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Jun-2024
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Overview
Market Insights Snapshot
New York Honey (NY Honey) has exhibited notable performance across various categories and states. In the New York market, the brand's ranking in the Concentrates category has seen a significant improvement, entering the top 30 at 21st place in June 2024, after not being ranked in the previous months. This upward movement indicates a growing acceptance and demand for their concentrates. However, the brand's performance in other states and categories has not been disclosed, which leaves room for speculation on their overall market penetration and strategy.
In the Vapor Pens category within New York, NY Honey has maintained a strong presence, although there has been a slight decline in ranking from 5th place in March and April to 8th place in June 2024. Despite this minor drop, the brand has shown resilience with a notable increase in sales in June, reaching $534,563. This suggests that while competition may be intensifying, NY Honey continues to attract a loyal customer base. The data does not provide insights into their performance in other regions, which could be crucial for understanding their overall market strategy and growth potential.
Competitive Landscape
In the competitive landscape of Vapor Pens in New York, New York Honey (NY Honey) has experienced notable fluctuations in its ranking over the past few months. Starting strong at rank 5 in March 2024, NY Honey maintained this position in April but saw a decline to rank 7 in May and further to rank 8 in June. This downward trend in rank is juxtaposed with a relatively stable sales performance, indicating that while NY Honey's sales figures are robust, the competitive pressure from brands like Heavy Hitters and Holiday (NY) is intensifying. Notably, Holiday (NY) showed a significant rise from rank 11 in March to rank 6 in June, surpassing NY Honey. Similarly, Cannabals and Off Hours have shown competitive resilience, maintaining or improving their positions. These shifts suggest that while NY Honey remains a key player, it must strategize effectively to counter the upward momentum of its competitors and regain a higher rank in the New York Vapor Pens market.
Notable Products
In June 2024, the top-performing product from New York Honey (NY Honey) was the Blue Dream Distillate Cartridge (1g) in the Vapor Pens category, maintaining its number one rank for four consecutive months with sales of 2,439 units. The Barry White Distillate Cartridge (1g) also showed strong performance, securing the second rank with a notable increase in sales to 1,039 units, up from the fourth rank in May. The Sour Tangie Distillate Disposable (1g) held steady at the third rank, consistent with its performance in May. The Berry White Full Spectrum Cartridge (1g) experienced a slight decline, moving from second to fourth rank with sales of 896 units. The Mimosa Distillate Cartridge (1g) entered the rankings at fifth place in June, indicating a new entry in the competitive landscape.
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