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Aug-2024
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Overview
Market Insights Snapshot
Pheno Exotic has shown varied performance across categories and states over the past few months. In Nevada, the brand's standing in the Flower category has seen a decline, moving from rank 44 in May 2024 to rank 50 in August 2024. This drop in ranking suggests that Pheno Exotic is facing stiff competition in the Flower category, possibly indicating a need for strategic adjustments. On the other hand, the Pre-Roll category in Nevada tells a different story. Here, Pheno Exotic improved its ranking from 21 in May 2024 to 15 in August 2024, showcasing a positive trend and potential consumer preference for their Pre-Roll products. This dual performance highlights the brand's variable success across different product lines within the same state.
Examining the sales figures provides additional insights into Pheno Exotic's performance dynamics. While the Flower category saw a significant sales drop in Nevada, from $168,391 in May 2024 to $100,123 in August 2024, the Pre-Roll category experienced a notable sales increase, reaching $119,271 in August 2024 from $108,742 in May 2024. This divergence indicates that while Pheno Exotic's Flower products may be losing market share, their Pre-Roll offerings are gaining traction. The absence of Pheno Exotic from the top 30 brands in certain months for the Flower category further emphasizes the need for targeted marketing and product innovation to regain competitiveness. These trends underscore the importance of category-specific strategies for maintaining and enhancing market presence.
Competitive Landscape
In the competitive landscape of the Nevada pre-roll category, Pheno Exotic has shown notable fluctuations in rank and sales over the past few months. Starting at rank 21 in May 2024, Pheno Exotic saw a slight decline to 22 and 23 in June and July, respectively, before making a significant leap to rank 15 in August. This upward movement is indicative of a positive trend in market performance, especially when compared to competitors like Nature's Chemistry, which consistently hovered around the lower teens and high teens, and Verano, which experienced a similar dip but managed to recover to rank 13 in August. Notably, High Heads also showed a strong performance, moving from rank 28 in May to 14 in August, indicating a competitive push in the market. Meanwhile, Superior (NV) demonstrated a dramatic rise from rank 43 in May to 16 in August, suggesting aggressive market strategies. These shifts highlight the dynamic nature of the pre-roll market in Nevada and underscore the importance of strategic positioning for Pheno Exotic to maintain and improve its market share.
Notable Products
In August 2024, the top-performing product for Pheno Exotic was Lickz Pre-Roll (1g) in the Pre-Roll category, which surged to the number one rank with sales of 4026 units. I-95 Pre-Roll (1g) followed closely in the second position, showing a significant rise from its fourth-place ranking in July 2024. Orangecello Infused Pre-Roll (1g) debuted at the third rank, while PBJ Pre-Roll (1g) secured the fourth spot. Gemelo Pre-Roll (1g), which consistently held the second rank from May to July 2024, dropped to fifth place in August. This shift in rankings highlights a dynamic change in consumer preferences and the competitive landscape within the Pre-Roll category.
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.
