Market Insights Snapshot
In the competitive New York market, Florist Farms has demonstrated a remarkable consistency in the Edibles category, maintaining a fourth-place ranking from October 2023 through January 2024. This stability is noteworthy, especially when considering the fluctuating nature of the cannabis market. However, their performance in the Flower category shows a more dynamic trajectory, with significant improvement from a tenth-place ranking in October 2023 to a fifth-place in December 2023, before slightly dropping to sixth in January 2024. This indicates a strong market presence and consumer preference in these categories, though the slight dip in the Flower category could suggest minor challenges in maintaining their upward momentum.
Conversely, Florist Farms' rankings in the Pre-Roll and Vapor Pens categories reveal challenges and opportunities. The Pre-Roll category saw a decline from an eighth-place ranking in October 2023 to a nineteenth-place in December 2023, before partially recovering to thirteenth in January 2024. This volatility suggests potential issues with product availability, consumer preference, or competition. In the Vapor Pens category, Florist Farms experienced a notable rise to a sixth-place ranking in December 2023, showcasing a strong consumer shift towards their vapor products during the holiday season, although this was followed by a drop to twelfth place in January 2024. This fluctuation highlights the competitive nature of the vapor pens market and the need for strategic positioning to maintain high rankings consistently.
In the competitive landscape of the Flower category in New York, Florist Farms has shown a notable upward trajectory in rankings over the recent months, moving from 10th in October 2023 to 6th by January 2024. This rise in rank is indicative of a significant increase in sales, positioning Florist Farms among the top contenders in the market. Key competitors include Nanticoke, consistently holding a higher rank and achieving greater sales, and Revert Cannabis New York, which, despite a fluctuation in rank, ended up just one position above Florist Farms in January 2024. Another notable competitor, Zizzle, has seen a slight decline, moving from 6th to 7th place, while Canna Cure Farms made a significant leap from 14th to 8th place, indicating a highly competitive and dynamic market. Florist Farms' consistent upward movement in both rank and sales highlights its growing prominence and competitive edge in New York's Flower category.
In Jan-2024, Florist Farms saw the THC/CBN 1:1 Bedtime Blueberry Sleep Gummies 10-Pack (100mg THC, 100mg CBN) leading the sales with 3626 units sold, maintaining its top position from the previous months. The Strawberry Gummies 10-Pack (100mg) followed as the second top-selling product, consistently holding its rank from Nov-2023. The Peach Gummies 10-Pack (100mg) moved up one rank to become the third best-selling product in Jan-2024, indicating a positive trend in its sales performance. Sour Green Apple Gummies 10-Pack (100mg) also saw a change in ranking, moving back to the fourth position after an unreported ranking in Dec-2023. Lastly, Sour Watermelon Gummies 10-Pack (100mg) experienced a slight drop to the fifth position, despite its consistent performance in the previous months.