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Aug-2024
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Overview
Market Insights Snapshot
Platinum Vape has shown varied performance across different states and categories in recent months. In California, the brand has struggled to stay within the top 30 for vapor pens, with rankings fluctuating between 76th and 94th from May to August 2024. This indicates a downward trend and potential challenges in maintaining market share in this competitive category. On the other hand, in Michigan, Platinum Vape has consistently performed well in the vapor pens category, holding strong positions within the top 10 and even ranking as high as 4th in May 2024. This consistency is a clear indicator of the brand's strong presence and consumer preference in the Michigan market.
In the edible category in Michigan, Platinum Vape has also shown steady improvement, moving from 37th in May to 33rd in August 2024. This upward trend suggests growing consumer acceptance and increased market penetration. Conversely, in Ontario, the brand's entrance into the vapor pens category has been less impactful, with a rank of 40th in both July and August 2024, indicating room for growth. Notably, in Missouri, Platinum Vape has demonstrated significant strength, climbing from 5th to 2nd place in the vapor pens category from May to August 2024, reflecting robust sales growth and a strong market position.
Competitive Landscape
In the competitive landscape of vapor pens in Missouri, Platinum Vape has demonstrated a notable upward trajectory in rank and sales over the past few months. Starting from a rank of 5th in May 2024, Platinum Vape has climbed to 2nd place by August 2024, showcasing a consistent improvement in market position. This rise is particularly significant when compared to competitors like Kushy Punch, which moved from 11th to 3rd place, and Good Day Farm, which improved from 6th to 4th place. The leading brand, Illicit / Illicit Gardens, has maintained its top position, moving from 3rd in May to 1st in August. The competitive dynamics indicate that while Platinum Vape has made significant gains, it faces strong competition from both established and rising brands. This trend highlights the importance of strategic marketing and product differentiation for Platinum Vape to maintain and further enhance its market position in Missouri's vapor pen category.
Notable Products
For August 2024, the top-performing product from Platinum Vape is the OPP x Smarties Distillate Cartridge (1g) in the Vapor Pens category, maintaining its first-place ranking with sales of 13,925 units. The TT Sprinkles Distillate Cartridge (1g), also in the Vapor Pens category, rose to the second position with notable sales of 12,016 units. The Banana Candy Distillate Cartridge (1g) secured the third spot, marking its first appearance in the top three since June. The Ghost Train Haze Distillate Cartridge (1g) debuted in fourth place with impressive sales figures. Lastly, the Pink Lemonade Distillate Cartridge (1g) dropped to fifth place from its consistent second-place ranking in previous months.
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.
