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Apr-2024
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Overview
Market Insights Snapshot
In the competitive cannabis market of New York, Blotter has shown a notable performance across different categories, with its Concentrates category standing out significantly. From January to April 2024, Blotter's ranking in Concentrates improved from second to third and then back to second, showcasing a strong presence in this category. Notably, their sales in January started at $79,664 and saw a consistent increase month over month, peaking at $108,548 in April. This upward trend not only highlights Blotter's solid market grasp but also indicates a growing consumer preference within the state's concentrates market. However, it's crucial to note that in other categories such as Pre-Roll and Vapor Pens, Blotter's performance tells a different story, with rankings fluctuating outside the top 30 and even missing from the rankings in February for Vapor Pens, which could suggest areas for strategic improvement or market challenges.
While Blotter's presence in New York's Pre-Roll and Vapor Pens categories may not mirror the success seen in Concentrates, these segments offer insight into the brand's broader market dynamics. The Pre-Roll category saw Blotter's ranking slightly decline from 35th in January to 39th in April, despite a short-lived improvement in sales from January to March. This indicates that while there might be a demand for Blotter's Pre-Rolls, the competition might be too stiff or the market too saturated for significant rank improvement. On the other hand, the Vapor Pens category showed an absence in February's top 30 rankings, followed by a lower-end ranking in the subsequent months. This volatility could point to challenges in consumer loyalty or product availability. Nonetheless, these insights into Blotter's performance across different categories and the specific market of New York underline the importance of strategic focus and market adaptation for cannabis brands aiming to maintain or improve their market standings.
Competitive Landscape
In the competitive landscape of the concentrates category in New York, Blotter has shown notable resilience and adaptability. Initially ranked 2nd in January 2024, Blotter experienced a slight dip to 3rd place in February and March, before climbing back to the 2nd position by April 2024. This fluctuation in rank is indicative of the brand's ability to navigate a highly competitive market, marked by significant players such as Mfny (Marijuana Farms New York), which consistently held the top rank across all four months, and Critical Concentrates, which oscillated between the 2nd and 3rd ranks, eventually settling at 3rd in April. The entry of #Hash into the top rankings in April as the 4th placed brand further underscores the dynamic nature of the concentrates market in New York. Despite these challenges, Blotter's upward trajectory in rank from March to April, coupled with a consistent increase in sales, underscores its growing market presence and the effective engagement strategies it must be employing to capture and retain consumer interest in a highly competitive environment.
Notable Products
In Apr-2024, Blotter's top-performing product was Lucys - Sativa Infused Pre-Roll (0.7g) in the Pre-Roll category, maintaining its number one rank consistently from January with sales hitting 1567 units. Following closely, Critical Jack Live Resin Sugar (1g) from the Concentrates category secured the second position, showing significant growth from a fifth-place ranking in February to second in April. The third spot was taken by Mimosa Live Resin Sugar (1g), also in the Concentrates category, which climbed from a fifth-place ranking in March to third in April, showcasing a notable improvement in its sales performance. The fourth and fifth ranks were occupied by Double Frosted Live Resin Sugar (1g) and Runtz Shatter (1g) respectively, both new entrants in the top five rankings for April in the Concentrates category. This shift indicates a growing interest and diversification in Blotter's Concentrates offerings, with significant changes in rankings from previous months.
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