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Feb-2024
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Overview
Market Insights Snapshot
In the competitive cannabis market of New York, Empire Cannabis / Empire Hemp Co. has shown a fluctuating performance across various categories. Notably, in the Edibles category, the brand experienced a slight decline in ranking from November 2023 to February 2024, moving from 45th to 53rd place. This movement might indicate a challenge in maintaining its market position amidst growing competition. However, in the Flower category, Empire Cannabis / Empire Hemp Co. made a significant jump in February 2024 to the 39th rank, up from 58th in January 2024, showcasing a remarkable improvement and possibly reflecting a successful strategic shift or increased consumer acceptance. This leap is particularly impressive considering the substantial increase in sales in February 2024, hinting at a strong market demand for their Flower products.
On the other hand, the brand's performance in the Pre-Roll and Vapor Pens categories tells a story of struggle and potential areas for reevaluation. The Pre-Roll category saw a consistent decline from 35th in November 2023 to 66th by February 2024, alongside a noticeable drop in sales, which could point towards operational challenges or shifting consumer preferences. Similarly, the Vapor Pens category observed a downward trend, albeit with a slight recovery in February 2024. Interestingly, Empire Cannabis / Empire Hemp Co. maintained a strong presence in the Topicals category until December 2023, ranked 7th, but did not appear in the rankings for the subsequent months, which may raise questions about product availability or strategic focus shifts. These insights into Empire Cannabis / Empire Hemp Co.'s performance across different categories and over time provide a nuanced view of their market dynamics in New York, highlighting both areas of strength and opportunities for growth.
Competitive Landscape
In the competitive landscape of the cannabis flower category in New York, Empire Cannabis / Empire Hemp Co. has shown a notable upward trajectory in terms of rank and sales from November 2023 to February 2024, moving from a rank of 45th to 39th. This improvement is significant when compared to competitors such as Packwoods, which saw a decline from 15th to 35th rank, and FLWR CITY, which also experienced a drop from 40th to 45th rank in the same period. On the other hand, urbanXtracts showed remarkable growth, moving from 47th to 36th rank, closely mirroring Empire Cannabis / Empire Hemp Co.'s positive momentum. However, High Peaks maintained a relatively stable position, with only slight fluctuations in their ranking. The directional trend for Empire Cannabis / Empire Hemp Co. suggests a growing consumer interest and market share within New York's competitive flower category, despite the brand not breaking into the top 20 as of February 2024. This analysis indicates a competitive but promising market landscape for Empire Cannabis / Empire Hemp Co., highlighting the importance of monitoring both rank and sales performance in relation to competitors.
Notable Products
In February 2024, Empire Cannabis / Empire Hemp Co. saw Wedding Cake (3.5g) maintain its position as the top-selling product with a significant sales figure of 416 units, indicating a strong consumer preference for this strain. Following closely, Blueberry Muffin (3.5g) climbed back up to the second rank with notable sales, showcasing its consistent popularity among customers. New entries such as Northern Lights #5 x Afghan Kush (3.5g) and Tropical Runtz (3.5g) made impressive debuts at ranks three and four, respectively, highlighting a growing interest in diverse strains. Wedding Cake x Apple Fritter (3.5g) also entered the charts for the first time, securing the fifth position and expanding the top product lineup. These rankings demonstrate a dynamic market with shifting consumer preferences, where new products quickly gain popularity alongside established favorites.
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