Market Insights Snapshot
In the competitive landscape of New York, New York Honey (NY Honey) has shown a notable performance across different cannabis product categories, particularly in Concentrates and Vapor Pens. Starting with the Concentrates category, NY Honey was not ranked in the top 20 brands in October 2023, which could be seen as a significant gap in market presence. However, the subsequent months unfolded a story of remarkable improvement and growth. By November 2023, the brand made a leap into the rankings at 18th place, followed by a climb to 15th in December 2023, and reaching 14th by January 2024. This ascending trajectory, coupled with a sales increase from $2,963 in November to $8,408 by January, underscores a growing consumer interest and acceptance in NY Honey’s Concentrate offerings.
Even more impressive is NY Honey’s performance in the Vapor Pens category within the same New York market. The brand was already positioned within the top 20 by October 2023, starting at 12th place. From there, NY Honey experienced a steady climb in the rankings over the subsequent months, moving up to 10th in November, 7th in December, and finally reaching 6th place by January 2024. This consistent upward movement is indicative of the brand's strong market presence and consumer preference in the Vapor Pens category. The sales figures further highlight this success, with a significant jump from $138,383 in October 2023 to $382,737 by January 2024, showcasing not only the brand's increasing popularity but also its significant contribution to the market's growth in this category.
In the competitive landscape of the Vapor Pens category in New York, New York Honey (NY Honey) has shown a notable upward trajectory in its market position over the recent months. Starting from October 2023, NY Honey was ranked 12th but climbed impressively to the 6th position by January 2024. This rise in rank is a reflection of its increasing sales, indicating a growing consumer preference for NY Honey's offerings. Among its competitors, Ayrloom has maintained a strong presence, consistently ranking in the top 4, suggesting that NY Honey's products are gaining traction in a market led by established brands. Similarly, Mfny (Marijuana Farms New York) and Eureka have shown stable performance, but NY Honey's growth outpaces Cannabals, which also improved but at a slower pace, moving from 13th to 8th place. This dynamic shift underscores NY Honey's potential to further disrupt the market and challenge the dominance of higher-ranked competitors through its increasing popularity and sales performance.
In January 2024, New York Honey (NY Honey) saw its top product as the Blue Dream Distillate Cartridge (1g) in the Vapor Pens category, maintaining its number one rank from the previous two months with sales reaching 1868 units. Following closely was the Berry White Full Spectrum Cartridge (1g), also in the Vapor Pens category, which secured the second position with a consistent performance over the last three months. The Mimosa Distillate Cartridge (1g) experienced a slight drop, moving from the second position in December 2023 to the third in January 2024. Notably, new entries such as the Barry White Distillate Cartridge (1g) and the Sour Tangie Distillate Disposable (1g) made it into the top five, ranking fourth and fifth respectively. These rankings indicate a strong preference for vapor pens within the NY Honey product line, alongside notable shifts in consumer preferences for specific strains and product types.