Market Insights Snapshot
In Nevada, the cannabis brand Huni Labs has shown a significant upward trend in the concentrates category. In June 2023, the brand was not even in the top 20, ranking 37th, but by September 2023, it had skyrocketed to the 18th position. This substantial jump in rankings indicates a strong positive momentum for Huni Labs in the Nevada market. However, it's important to note that the brand was not in the top 20 in the months of June, July, and August, which suggests there is still substantial room for growth and market penetration.
Looking at the sales figures, there is an interesting pattern. In August 2023, Huni Labs recorded sales of $6,975, a slight decrease from $7,059 in July. However, in September, there was a massive leap in sales to $42,840. This sharp increase aligns with their rise in rankings, indicating a robust demand for their concentrates in Nevada. The significant sales growth also suggests that Huni Labs' strategies and offerings in the concentrates category are resonating well with consumers in the state. However, the specific strategies leading to this success remain a topic for further exploration.
In the Concentrates category within Nevada, Huni Labs has seen a significant improvement in its rank, moving from 41st in August 2023 to 18th in September 2023. This leapfrogged them over several competitors, including Tsunami and City Trees, both of which saw their ranks decline or remain static during the same period. However, Huni Labs still trails behind Grassroots, which consistently held a higher rank, despite a slight drop from 11th to 17th. Notably, Tidal was not even in the top 20 in June 2023 but jumped to 16th in September, surpassing Huni Labs. While specific sales numbers are not provided, the upward trend in Huni Labs' rank suggests a corresponding increase in sales, although the exact magnitude of growth relative to competitors remains to be seen.
In Sep-2023, the top-performing product from Huni Labs was the Butterscotch Cured Resin Badder (1g) with impressive sales of 882 units. Following closely behind was the Leftover Bananas Cured Resin Badder (1g) at second place. The third bestseller was the Rose Live Resin Budder (0.5g). Notably, the Grape Forbidos Live Resin Crumble (1g) dropped from its consistent second place in both Aug-2023 and Jul-2023 to fourth place in Sep-2023. The Berry Bubba Live Resin Budder (1g) also experienced a rank change, moving from fifth in Jul-2023 to fifth in Sep-2023.