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Sep-2024
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Overview
Market Insights Snapshot
Off Hours has demonstrated a strong performance in the New York market, particularly in the Edible category, where it consistently held the number one ranking from June through September 2024. This sustained top position highlights Off Hours' dominance and consumer preference within this category. The sales figures for Edibles also reflect a positive trend, showing an increase from around 2 million in June to over 2.6 million by September. In contrast, Off Hours' performance in the Vapor Pens category shows a more modest presence, maintaining a rank around the 11th to 14th position over the same period. This suggests potential growth opportunities in the Vapor Pens segment, although the brand has yet to break into the top 10 in this category.
The consistent top ranking in the Edible category across all months in New York indicates a strong market position and potentially a loyal customer base. However, the absence of Off Hours from the top 30 in other states or provinces for both Edibles and Vapor Pens suggests that their market penetration may be limited geographically. This could be viewed as a challenge or an opportunity, depending on the brand's strategic goals. The consistent ranking in the Vapor Pens category, albeit outside the top 10, suggests stable performance but also highlights the competitive nature of this category. The lack of presence in the top 30 in other markets could signal areas for expansion or indicate a focus on consolidating their current market strengths.
Competitive Landscape
In the competitive landscape of the Edible category in New York, Off Hours has consistently maintained its leading position from June to September 2024, ranking 1st each month. This consistent top ranking highlights Off Hours' strong market presence and consumer preference in the region. Despite fluctuations in sales figures, Off Hours has managed to outperform its closest competitors, such as Camino and Ayrloom, which have consistently held the 2nd and 3rd ranks, respectively. Notably, while Camino's sales have shown a significant upward trend, particularly from August to September, Off Hours has successfully defended its top spot, suggesting a robust brand loyalty and effective marketing strategies. Ayrloom, although stable in its 3rd position, has not demonstrated the same sales growth momentum, indicating potential challenges in capturing additional market share against the dominant presence of Off Hours.
Notable Products
In September 2024, the top-performing product for Off Hours was the THC/CBG 10:2 Euphoric Watermelon Lemonade Sour Gummies 10-Pack, maintaining its number one rank with sales reaching 19,606 units. The CBD/THC/CBN 2:10:1 Mellow Blue Razzberry Sour Gummies 10-Pack held its second-place position consistently across the months, showing a slight increase in sales to 13,654 units. The CBD/THC/CBN 2:10:3 Offline Grape Punch Gummies 10-Pack also remained steady in third place, with a notable improvement in sales from August to September. The THC/CBG 10:1 Illuminate Peach Mango Gummies 10-Pack climbed back to fourth place after dropping to fifth in the previous months. Meanwhile, the THC/THCV 10:2 Awaken Orangeade Gummies 10-Pack, despite a dip in sales, maintained its position at fifth place.
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.
