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Mar-2024
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Overview
Market Insights Snapshot
In the competitive landscape of Nevada, Experience Premium Cannabis (EPC) has shown a notable performance in the Tincture & Sublingual category. Over the recent months, EPC has seen a positive trend in its rankings, moving from 9th place in December 2023 to 7th in February 2024, before slightly dipping to 8th in March 2024. This fluctuation in rankings indicates strong competition within the category, but also highlights EPC's resilience and ability to maintain a top 10 position. The sales figures reflect this competitive edge, with a steady increase from December 2023's $8,741 to February 2024's $9,859, before experiencing a significant drop in March 2024. This drop in sales, despite a relatively stable ranking, suggests external factors may have influenced the market, warranting further investigation for those interested in the nuances of market dynamics.
While the data provides a snapshot of EPC's performance in Nevada's Tincture & Sublingual category, it leaves room for speculation on how the brand is performing across other categories and states. The ability to maintain a top 10 ranking consistently over several months is commendable and indicates a loyal customer base and effective brand strategies. However, the sudden decrease in sales in March 2024, despite only a minor change in ranking, raises questions about market conditions or potential shifts in consumer preferences. Analysts and enthusiasts following the cannabis market in Nevada would do well to keep an eye on Experience Premium Cannabis's strategies in the coming months, as they adapt to these challenges and opportunities.
Competitive Landscape
In the competitive landscape of the Tincture & Sublingual category in Nevada, Experience Premium Cannabis (EPC) has shown a notable performance amidst its competitors. Initially ranked 9th in December 2023, EPC climbed to 7th by February 2024, showcasing a positive trajectory in rank, although it slightly dipped to 8th in March 2024. Despite this minor setback, EPC's sales peaked in February 2024 before experiencing a significant drop in March 2024. Competitors such as Rove and City Trees have demonstrated strong performances, with Rove moving from 12th to 7th place and City Trees maintaining a consistent position in the top ranks, eventually reaching 6th in March 2024. White Label saw a dramatic rise to 5th in January 2024 but fell to 9th by March 2024, indicating a volatile market. Mary's Medicinals also improved its standing, moving from 15th to 10th. This competitive analysis highlights the dynamic nature of the market and the need for EPC to strategize effectively to maintain and improve its market position amidst fluctuating sales and ranks of its competitors.
Notable Products
In March 2024, Experience Premium Cannabis (EPC) saw the CBN Good Night Tincture (500mg CBN, 14ml) retain its top position in the Tincture & Sublingual category, with sales reaching 51 units. Following closely, the CBD/THC 1:1 Golden Mylk Tincture (100mg CBD,100mg THC) climbed to the second rank, showcasing a consistent increase in its popularity. Notably, both the CBD/THC 20:1 Breath Easy Tincture (400mg CBD, 20mg THC,14ml) and the CBD/THC 8:1 Cannabis Tincture (270mg CBD, 30mg THC) shared the third rank, each with a significant shift in their positions from the previous month. This month's rankings indicate a shift in consumer preferences within the Tincture & Sublingual category, highlighting a diverse interest in CBD/THC ratios among EPC's offerings. The sales figures and rankings reflect a dynamic market, with the top products showcasing both stability and change in consumer choices over time.
Top Selling Cannabis Brands
Data for this report comes from real-time sales reporting by participating cannabis retailers via their point-of-sale systems, which are linked up with Headset’s business intelligence software. Headset’s data is very reliable, as it comes digitally direct from our partner retailers. However, the potential does exist for misreporting in the instance of duplicates, incorrectly classified products, inaccurate entry of products into point-of-sale systems, or even simple human error at the point of purchase. Thus, there is a slight margin of error to consider. Brands listed on this page are ranked in the top twenty within the market and product category by total retail sales volume.
