Market Insights Snapshot
In the Nevada market, the performance of Pheno Exotic across various categories has shown some significant movements. In the Flower category, the brand's ranking has seen a consistent downward trend from July to October 2023, moving from 27th to 46th place. This indicates that the brand didn't make it to the top 20 brands in this category during these months. This is reflected in the sales figures, which have also been decreasing over the same period. However, it's important to note that despite the decline, the sales in the Flower category still remain substantial.
On a brighter note, Pheno Exotic's performance in the Pre-Roll category has been more promising. The brand's ranking fluctuated over the months, but it managed to maintain its position within the top 20 brands in Nevada. The highest rank it achieved was 14th in August 2023. The sales in this category also saw some ups and downs, with a noticeable dip in September, but rebounded in October. The brand's performance in the Vapor Pens category, however, has been less impressive. Pheno Exotic consistently ranked outside the top 20 brands, with its ranking hovering around the 60s, and sales in this category were significantly lower compared to the other two.
In the Pre-Roll category for Nevada, Pheno Exotic has seen a fluctuating market position over the past few months. In July 2023, it ranked 18th, rose to 14th in August, then dropped to 24th in September before slightly recovering to 16th in October. This indicates a somewhat unstable market presence. Comparatively, NLVO / North Las Vegas Organics has shown a significant improvement, moving from outside the top 20 in July to 10th place in September, although it fell back to 14th in October. TRYKE and TRENDI have remained fairly stable, with TRENDI consistently outperforming Pheno Exotic. Find. has also shown a relatively stable performance, although it has consistently ranked higher than Pheno Exotic. The sales trends for these brands generally align with their rankings, suggesting that Pheno Exotic may need to enhance its marketing strategies to improve its competitive standing.
In October 2023, Pheno Exotic's top-performing product was the Gemelo Pre-Roll (1g), reclaiming its July position at number one with a notable sales figure of 1717 units. The Medellin x Jet Fuel Gelato Pre-Roll (1g) saw a significant rise in popularity, moving from fourth place in September to second place. Meanwhile, the Garlic Grapes Pre-Roll (1g) dropped from the top spot in September to third place. The Turbulence Pre-Roll (1g) and Lickz Pre-Roll (1g) rounded out the top five, making their first appearance on the list in fourth and fifth place respectively. This analysis indicates a dynamic market with shifting customer preferences month to month.