.svg){kind=small}
Aug-2024
Sales
Trend
6-Month
Product Count
SKUs
Overview
Market Insights Snapshot
MyHi has shown a strong performance in the Beverage category within New York. The brand achieved a notable rise from the 6th position in May 2024 to the 3rd position in June 2024, before stabilizing at the 4th position in both July and August 2024. This upward movement indicates a solid market presence and customer preference for their beverage products. However, in the Edible category, MyHi has struggled to break into the top 30, consistently ranking outside this range, which could be seen as a negative indicator of their performance in this segment. The brand's sales in the Beverage category also saw a significant increase in June, peaking at $52,910, before experiencing a slight decline in the following months.
In the Vapor Pens category, MyHi's performance in New York has been relatively stagnant, with rankings hovering around the 48th to 50th positions from May to August 2024. This consistent lower-tier ranking suggests that MyHi has not yet managed to capture a significant share of the Vapor Pens market. Despite this, there was a steady increase in sales figures, indicating some level of growth and potential for future improvement. Overall, while MyHi shows strength in the Beverage category, there is room for improvement in both the Edible and Vapor Pens categories.
Competitive Landscape
In the competitive landscape of the New York cannabis beverage market, MyHi has shown a notable performance, particularly in the summer months of 2024. MyHi's rank improved from 6th in May to 3rd in June, before stabilizing at 4th place in both July and August. This upward movement in rank indicates a positive reception and growing market presence. However, MyHi faces stiff competition from brands like Tune, which consistently held the 2nd position from June to August, and Weed Water, which fluctuated but remained in the top 5 throughout the period. Despite MyHi's strong performance, it still trails behind these competitors in sales, suggesting room for growth. Additionally, Harney Brothers Cannabis experienced a decline, dropping from 3rd in May to 6th by August, which could present an opportunity for MyHi to capitalize on shifting consumer preferences. The absence of Etain from the top 20 after June further underscores the dynamic nature of this market. For more detailed insights and advanced data, exploring the broader trends and consumer behaviors in the New York cannabis beverage market is recommended.
Notable Products
In August 2024, the top-performing product from MyHi was the Simply Flavorless Stir Stick 10-Pack (100mg) in the Beverage category, maintaining its rank at number one with sales of 804 units. The Boisterous Berry Stir Stick (10mg) also in the Beverage category held steady at the second position, reflecting consistent demand. The Sunrise Sativa Berry Gummies 10-Pack (100mg) in the Edible category climbed to the third rank from fourth in July, showing a positive trend in sales. The Boisterous Berry Stir Stick 10-Pack (100mg) improved its ranking to fourth place from fifth in the previous two months. Meanwhile, the Lively Lemon Stir Stick (10mg) saw a decline, dropping from third in July to fifth in August.
Top Selling Cannabis Brands
Data for this report comes from real-time sales reporting by participating cannabis retailers via their point-of-sale systems, which are linked up with Headset’s business intelligence software. Headset’s data is very reliable, as it comes digitally direct from our partner retailers. However, the potential does exist for misreporting in the instance of duplicates, incorrectly classified products, inaccurate entry of products into point-of-sale systems, or even simple human error at the point of purchase. Thus, there is a slight margin of error to consider. Brands listed on this page are ranked in the top twenty within the market and product category by total retail sales volume.
