Market Insights Snapshot
In the Nevada market, Panna Extracts has seen some interesting movements across different categories. In the Concentrates category, the brand had a steady presence in the top 20 from July to August 2023, moving from rank 19 to 17. However, in September and October, the brand fell out of the top 20, indicating a decline in performance in this category. On the other hand, in the Vapor Pens category, Panna Extracts maintained a consistent position within the top 20, staying at rank 21 in July and August, and improving to rank 19 in September and October. The consistency in this category suggests a stable demand for their Vapor Pens.
Turning our attention to the Pre-Roll category, Panna Extracts had a slightly fluctuating performance. Although the brand did not make it into the top 20 in July, it did manage to secure a place in August, ranking 25. In the following months, the brand saw a slight improvement, moving up to rank 23 in September and further to rank 22 in October. This upward movement indicates a gradual increase in the popularity of Panna Extracts' Pre-Rolls in the Nevada market. However, it's worth noting that the brand's overall performance across categories shows room for growth and improvement.
In the Vapor Pens category within Nevada, Panna Extracts has been consistently hovering just outside the top 20 brands, with a slight upward trend from July to October 2023. This puts them in direct competition with brands like Savvy and Desert Drip. Savvy, while initially ranking higher, has seen a decline and fell below Panna Extracts in October. Desert Drip, on the other hand, made a significant leap from not being in the top 20 in July and August to the 20th spot in October. Other competitors, such as Church Cannabis Co. and UB GOOD, have consistently ranked within the top 20 but have seen a decline in their rankings over the same period. While Panna Extracts' sales have been lower than these competitors, their steadier performance and upward trend in rank indicate potential for growth.
In October 2023, Panna Extracts' top-performing product was the Sour Diesel Live Resin Cartridge (0.5g) from the Vapor Pens category, with a notable sales figure of 2342 units. This product maintained its number one rank from the previous month. The second bestseller was the Purple Punch Live Resin Cartridge (0.5g), also from the Vapor Pens category, which dropped one rank from September. The Garlic Cookies Infused Pre-Roll (1g) from the Pre-Roll category moved up two ranks to secure the third spot. Lastly, the Lemon Diesel Live Resin Cartridge (0.5g) and Blueberry OG Live Resin Cartridge (0.5g), both from the Vapor Pens category, entered the top five, ranking fourth and fifth respectively.