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Jun-2024
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Overview
Market Insights Snapshot
Hudson Cannabis has demonstrated notable performance in the New York market across various product categories. In the Concentrates category, the brand has seen a consistent upward trend, moving from 11th place in March 2024 to 7th place by May 2024, before slightly dipping to 9th place in June 2024. This indicates a strong presence and increasing consumer preference for their concentrates. However, the Vapor Pens category tells a different story, as Hudson Cannabis was not ranked in the top 30 brands for March and April 2024 but made an entry at 47th place in May and improved to 43rd place in June. This suggests a gradual but positive movement in this category, although they still have significant ground to cover to become a top contender.
The Flower and Pre-Roll categories present a mixed yet promising picture for Hudson Cannabis in New York. In the Flower category, the brand experienced a dip from 13th place in March 2024 to 19th place in May 2024, but it made a remarkable recovery to 10th place in June 2024, indicating a resurgence in consumer demand. The Pre-Roll category shows a more consistent improvement, with the brand moving from 14th place in March 2024 to a strong 6th place in May 2024, and maintaining a solid position at 7th place in June. This upward trajectory in Pre-Rolls highlights Hudson Cannabis's growing dominance and appeal in this segment. Overall, while there are areas for improvement, particularly in Vapor Pens, the brand's performance across categories in New York showcases its potential for sustained growth and market penetration.
Competitive Landscape
In the competitive landscape of the Flower category in New York, Hudson Cannabis has experienced notable fluctuations in rank and sales over recent months. In March 2024, Hudson Cannabis was ranked 13th, but it saw a decline to 15th in April and further down to 19th in May, before making a significant recovery to 10th place in June. This recovery is particularly impressive given the competitive pressure from brands like Rythm and Zizzle, which consistently maintained higher ranks, with Zizzle even climbing to 8th place in June. Meanwhile, Back Home Cannabis Co. and Platinum Reserve also showed upward trends, with Back Home Cannabis Co. moving from 18th in March to 12th in June, and Platinum Reserve stabilizing around the 11th position. Hudson Cannabis's rebound in June, with sales nearing those of the top competitors, indicates a strong potential for growth and resilience in a highly competitive market.
Notable Products
In June 2024, the top-performing product from Hudson Cannabis was the Lemon Cherry Gelato Pre-Roll (0.5g), which ascended to the number one rank with notable sales of $7,691. The Farmer's Blend Pre-Roll (0.5g) dropped to second place after maintaining the top rank for three consecutive months, with sales slightly declining to $3,980. The Natural Wine Pre-Roll 7-Pack (3.5g) climbed to third place from its previous fifth position in May. The Farmer's Blend (3.5g) debuted at fourth place, while the Apple Fritter (7g) entered the rankings at fifth place. These changes indicate a dynamic shift in consumer preferences within the Pre-Roll and Flower categories.
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