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Jun-2024
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Overview
Market Insights Snapshot
High Falls Canna New York has shown varied performance across different categories and states. In the New York market, their presence in the Edible category has not been strong enough to place them in the top 30 brands for the months of April, May, and June 2024, despite a sales figure of $15,087 in March 2024 when they were ranked 38th. This indicates a potential area for improvement or a strategic pivot to boost their standing in this category. On the other hand, their performance in the Flower category has been relatively stable, though not without fluctuations. They were ranked 26th in March 2024, dropped to 31st in April, improved slightly to 28th in May, and then reverted to 31st in June. This consistency, albeit with minor ups and downs, suggests a solid foothold in the Flower market within the state.
The sales trends for High Falls Canna New York in the Flower category further underline their steady presence. Their sales reached $130,614 in March 2024 and peaked at $168,935 in May, before slightly decreasing to $126,748 in June. This indicates a strong but somewhat volatile performance, which could be attributed to seasonal variations or market competition. The fact that they have consistently remained within the top 31 brands in the Flower category highlights their resilience and potential for growth. However, their absence in the top 30 for the Edible category in subsequent months points to a need for strategic adjustments to capture a larger market share in that segment.
Competitive Landscape
In the competitive landscape of the New York Flower category, High Falls Canna New York has shown fluctuating ranks over the past few months, indicating a dynamic market presence. Despite a brief dip to 31st place in April 2024, the brand rebounded to 28th in May before slipping back to 31st in June. This variability suggests that while High Falls Canna New York is a recognized player, it faces stiff competition. For instance, Packwoods consistently outperformed High Falls Canna New York, maintaining a higher rank throughout the period, peaking at 24th in April. Similarly, House of Sacci and Rolling Green Cannabis have shown more stable rankings, with House of Sacci even reaching 20th in March. Interestingly, Harney Brothers Cannabis made a significant leap from 65th in March to 33rd in June, showcasing rapid growth that could pose a future threat. These competitive dynamics highlight the need for High Falls Canna New York to strategize effectively to improve its market position and capitalize on sales opportunities.
Notable Products
In June 2024, the top-performing product for High Falls Canna New York was G13 Genius (3.5g) in the Flower category, maintaining its number one ranking from April and May with sales of $951. Killer Queen HV (3.5g) also kept its consistent position at number two, though its sales figures saw a slight decrease compared to May. Rosetta Stone (3.5g) climbed to the third position with notable sales improvement, reaching $698. Gelato (3.5g) moved up from fifth to fourth place, showing a positive trend in sales. Mimosa (3.5g) entered the rankings at fifth place for the first time, indicating growing consumer interest.
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