Market Insights Snapshot
In the Nevada market, Cannavative has exhibited a solid performance in several categories. In the Capsules category, the brand consistently ranked within the top 4 from July to October 2023, even improving its position from 4th to 3rd place between July and August, and again in October. Similarly, in the Pre-Roll and Vapor Pens categories, Cannavative maintained its position within the top 7 brands throughout the four-month period, showing a slight upward trend in the Vapor Pens category by moving from 6th to 5th place from September to October. It's worth noting that the brand's sales in the Vapor Pens category also increased progressively over these months.
However, Cannavative's performance in other categories has been less consistent. In the Concentrates category, the brand fluctuated around the 12th rank, indicating a stable but not leading position. More concerning is the brand's performance in the Edibles category, where it hovered around the 40th rank, and in the Flower category, where it didn't make the top 20 in July and August. The latter could be seen as a missed opportunity given the popularity of this category. While these rankings might suggest areas for improvement, they also highlight Cannavative's strength and potential in other categories, such as Capsules, Pre-Rolls, and Vapor Pens, within the Nevada market.
In the Vapor Pens category in Nevada, Cannavative has shown a consistent performance, maintaining a rank within the top 7 brands from July to October 2023. The brand has seen a slight upward trend, moving from 6th place in July to 5th place in October. In comparison, Rove and &Shine have consistently ranked higher, with Rove even reaching 2nd place in September. However, Cannavative has managed to surpass AiroPro (formerly IndigoPro) and TRENDI in October, both of which had higher ranks in July. It's important to note that the absence of a rank indicates that the brand was not in the top 20 for that month. Overall, Cannavative is showing a positive trend in a competitive market.
In October 2023, Cannavative's top-selling product was the Resin8 - Blueberry Distillate Cartridge (0.8g) from the Vapor Pens category, with robust sales of 3936 units. The Resin8 - Melon Balls Distillate Cartridge (0.8g) followed closely in second place, showing a commendable improvement from its September rank of fourth. The third position was maintained by the Resin8 - Apple Jack Distillate Cartridge (0.8g). Interestingly, the Resin8 - Sunset Sherbet Distillate Cartridge (0.8g) made a notable leap from the fifth position in August to fourth in October. However, the Resin8 - Tropic Thunder Distillate Cartridge (0.8g) saw a slight dip in its ranking, moving from second place in September to fifth in October.