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Jun-2024
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Overview
Market Insights Snapshot
In New York, Nanticoke has shown a consistent performance across various categories with notable improvements in some areas. In the Edible category, Nanticoke has gradually climbed from rank 30 in March to rank 28 in June, indicating a steady increase in popularity. In the Flower category, the brand has maintained a strong presence, consistently ranking at 8th place from March to May before jumping to 5th place in June. This upward movement in the Flower category suggests a significant boost in consumer preference and market penetration. Conversely, in the Vapor Pens category, Nanticoke's ranking has seen a decline from 21st in March to 28th in June, which could signal a need for strategy reassessment in this segment.
The Pre-Roll category has been another area of strength for Nanticoke in New York. The brand ranked 5th in March, dropped to 9th in April, but managed to climb back to 5th place by June, indicating a resilient performance despite fluctuations. This category's recovery points to effective responses to market dynamics and consumer preferences. Overall, Nanticoke's performance in New York highlights strengths in Flower and Pre-Roll categories, while the Edible category shows promising growth. However, the downward trend in Vapor Pens suggests potential challenges that might need addressing to maintain a balanced portfolio across all product categories.
Competitive Landscape
In the competitive landscape of the Flower category in New York, Nanticoke has shown a notable upward trend in its rankings and sales over the past few months. Starting from a consistent 8th place in March, April, and May 2024, Nanticoke made a significant leap to 5th place in June 2024. This improvement in rank is accompanied by a substantial increase in sales, from $463,409 in March to $667,880 in June. In contrast, Matter. has maintained a strong position, climbing from 7th to 3rd place with a remarkable sales surge, indicating a competitive edge. Similarly, FlowerHouse New York experienced fluctuations, dropping from 3rd to 7th place, which may suggest volatility in their market performance. Electraleaf also saw a mixed performance, ending June in 6th place after peaking at 4th in May. Meanwhile, Revert Cannabis New York consistently performed well, securing 4th place in June. These dynamics highlight Nanticoke's growing presence in the market, though it still faces stiff competition from established brands.
Notable Products
In June 2024, Blue Dream Pre-Roll (0.5g) topped the sales chart for Nanticoke, maintaining its first-place ranking from May with a notable sales figure of 3,638 units. Mac Nilla Pre-Roll (0.5g) held steady in second place, showing consistent performance. Lemon Grab Pre-Roll (0.5g) climbed to third place, improving from its fourth place in May. Mac Nilla (3.5g) ranked fourth, slightly dropping from its third-place position in May. Blue Dream (3.5g) re-entered the rankings in fifth place, having not been in the top five for the previous months of April and May.
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