Market Insights Snapshot
In the edible category within New York, Cannabals has shown a notable upward trajectory over the recent months. Starting from October 2023, Cannabals held the 16th position, slightly dipped to 17th in November, but then regained momentum to climb back to 16th in December and made a significant leap to the 10th position by January 2024. This progression, especially the jump observed in the last month, indicates a growing consumer preference for Cannabals' edibles. The sales figures mirror this positive movement, with a substantial increase from 35,206 units in October 2023 to 96,276 units by January 2024. This growth trajectory in the edibles category is a strong indicator of Cannabals' increasing market presence and consumer acceptance in New York.
Similarly, in the vapor pens category within the same state of New York, Cannabals has demonstrated impressive performance. The brand started off at the 13th rank in October 2023 and saw a consistent climb in the rankings, moving up to 12th in November, 10th in December, and reaching the 8th position by January 2024. The sales data for vapor pens reflects a robust growth, with sales almost tripling from 101,909 units in October 2023 to 285,511 units in December 2023, albeit with a slight dip in January 2024. This steady rise in the rankings, coupled with the significant sales increase, underscores Cannabals' solidifying position and growing dominance in the vapor pens category. The consistent upward movement across both categories in New York highlights Cannabals' successful market penetration and the brand's ability to resonate with consumers' preferences.
In the competitive landscape of the Vapor Pens category in New York, Cannabals has shown a notable upward trajectory in rankings over the recent months, moving from 13th in October 2023 to 8th by January 2024. This improvement in rank is indicative of a growing consumer preference and an increase in sales, despite the brand not leading the category. Competitors such as Eureka and New York Honey (NY Honey) have also seen improvements, with New York Honey notably jumping from 12th to 6th in the same period, suggesting a highly competitive environment where brand positioning can significantly shift within months. Meanwhile, brands like PAX and Off Hours experienced fluctuations in their rankings, indicating potential vulnerabilities or shifts in consumer preferences that Cannabals could capitalize on. The dynamic nature of the rankings and sales within this category underscores the importance for Cannabals to continue innovating and engaging with their target market to maintain and improve their competitive position.
In January 2024, Cannabals saw Forbidden Fruit Distillate Disposable (1g) from the Vapor Pens category maintain its position as the top-selling product, with sales reaching 1249 units. Following closely, CBN/THC 1:1 Blueberry Dreams Gummies 20-Pack (100mg CBN, 100mg THC) from the Edible category climbed back to the second position, showcasing a significant sales increase to 980 units. The Mango Distillate Disposable (1g), also from the Vapor Pens category, secured the third spot, indicating a consistent preference for vapor pen products among consumers. Notably, the Dragonfruit Gummies 10-Pack (100mg) made a notable jump back into the fourth position, reflecting a growing interest in the Edible category. These rankings highlight a dynamic shift in consumer preferences, with significant sales growth for both top-performing and returning products.