Market Insights Snapshot
In the cannabis market of New York, Pines has shown some interesting trends across different categories. In the 'Concentrates' category, Pines made a notable entry into the top 20 brands in December 2023. However, the brand's performance in the 'Edible' category has been somewhat static, with rankings hovering around the mid-40s over the last three months of 2023. On a positive note, the 'Flower' category showed a promising upward trend, with the brand climbing from rank 41 in September to 35 in November, although it slipped slightly to rank 38 in December.
Meanwhile, Pines' performance in the 'Pre-Roll' and 'Vapor Pens' categories present contrasting scenarios. The brand did not make it into the top 20 in the 'Pre-Roll' category until November, indicating room for improvement. However, it maintained a steady position in the mid-30s in the 'Vapor Pens' category from October to December, suggesting a stable consumer base in this category. One could infer that while Pines has successfully established its presence in some categories, there are others where the brand could potentially enhance its market position.
In the Flower category within the New York market, Pines has shown a notable shift in rank over the last quarter of 2023. Starting from a low rank of 41 in September, Pines made a significant leap to 35 in November, before settling at 38 in December. This indicates a positive trend in market performance, despite being outpaced by some competitors. For instance, Lobo started strong in September with a rank of 15, but saw a steady decline over the following months, ending at rank 30 in December. Similarly, Hepworth maintained a more stable presence, fluctuating between ranks 18 and 33. Other competitors like High Peaks and Harney Brothers Cannabis remained consistently lower in the ranks, indicating less market impact in comparison to Pines. These trends suggest a dynamic and competitive landscape for the Flower category in New York, with Pines showing potential for growth.
In December 2023, the top-performing product from Pines was 'Cinderella 99 (3.5g)', a Flower category product, maintaining its number one position from November. The second place was taken by 'Sour Diesel (3.5g)', another Flower category product, which had a notable increase from its previous rank. 'Rainbow Belts Live Resin Disposable (1g)', a Vapor Pens category product, secured the third position, improving its rank from October. The fourth and fifth positions were held by 'Pie Piss (3.5g)' and 'Fruit King (3.5g)', both from the Flower category, with 'Pie Piss (3.5g)' showing a rank improvement from November. It's worth mentioning that the 'Cinderella 99 (3.5g)' product had impressive sales of 101 units in December.