Market Insights Snapshot
In the competitive cannabis market of New York, Good Times New York has shown varied performance across different product categories. In the edible category, their ranking has seen a gradual decline from October 2023 to January 2024, moving from the 39th to the 48th position. This consistent drop in ranking, coupled with a decrease in sales from 4055 units in October 2023 to 3009 units in January 2024, indicates a challenging period for the brand within this category. Conversely, their pre-roll products have demonstrated resilience and a strong market presence, initially ranking 5th in October 2023, experiencing a slight dip in the following months, but rebounding to the 9th position by January 2024. This category not only showcases the brand's competitive edge but also highlights a significant sales jump from 80467 units in December 2023 to 116274 units in January 2024, suggesting a robust recovery and growing consumer interest.
However, the performance of Good Times New York's vapor pens in the New York market tells a different story. Starting from a mid-tier position at 28th in October 2023, the brand saw a slight decline and then a more substantial drop to the 43rd rank by January 2024. This fluctuation in rankings, especially the sharp decline in the latest month, underscores potential challenges in maintaining their market share in this category. Despite an increase in sales from October to December 2023, January 2024 saw a reduction in units sold to 11493, suggesting that while there was a momentary peak, maintaining consumer interest might be a growing concern. This analysis across categories underscores the importance of strategic focus and adaptation for Good Times New York, highlighting strengths in the pre-roll segment but also pointing out areas for improvement in edibles and vapor pens within the New York market.
In the competitive landscape of the Pre-Roll category in New York, Good Times New York has experienced notable fluctuations in its market position. Initially ranked 5th in October 2023, it saw a decline to 11th in November and further to 16th in December, before making a significant recovery to 9th in January 2024. This rollercoaster in rankings reflects a challenging market environment, with sales trends showing a dip before a recovery in January 2024, surpassing its initial October sales. Competitors such as Dank. By Definition, with a remarkable rise from 61st to 7th within the same period, and Supernaturals New York, improving to 8th by January 2024, highlight the dynamic nature of the market. Meanwhile, Mfny (Marijuana Farms New York) and Canna Cure Farms have also shown resilience, maintaining positions within the top 11 across the months. Good Times New York's ability to rebound in rank and sales amidst stiff competition and fluctuating market demands underscores its resilience and potential for growth in New York's Pre-Roll market.
In January 2024, Good Times New York saw the Pineapple Upside Down Cake Infused Pre-Roll 5-Pack (2.5g) reclaim its top position in sales with 646 units sold, a significant rebound from its previous rankings. Following closely behind was the Purple Punch Infused Pre-Roll 5-Pack (2.5g), maintaining a strong presence in the market with a consistent performance, ranking second in January after holding top positions in the preceding months. The Sour Skittles Infused Pre-Roll 5-Pack (2.5g) secured the third spot, demonstrating steady demand despite slipping from its earlier second-place ranking. A notable newcomer, the Randy Marsh Infused Blunt (2g), made an impressive entry at fourth place, indicating a growing interest in varied product offerings. Lastly, the Sour Skittles Infused Blunt (1g) rounded out the top five, highlighting the popularity of the Sour Skittles strain across different product forms.