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Jun-2024
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Overview
Market Insights Snapshot
Roots has shown a mixed performance across different categories in Nevada. In the Concentrates category, the brand maintained a steady ranking of 26th place in March and April 2024 but fell out of the top 30 in May before slightly recovering to 27th in June. This indicates some volatility in their market presence. On the other hand, their Vapor Pens category has seen a more positive trajectory, improving from 34th place in March to 28th place by June. This upward movement in Vapor Pens is particularly notable, suggesting that Roots is gaining traction in this category despite the competitive landscape.
The Flower category, however, tells a different story. Roots ranked 97th in March and made a slight improvement to 91st in April, but failed to make it into the top 30 in May, only to reappear at 93rd in June. This inconsistency could point to challenges in maintaining a strong foothold in the Flower market. Despite these fluctuations, the brand's overall sales in the Vapor Pens category have shown a significant upward trend, with June sales reaching 104,087, which is a substantial increase from March. This suggests that while Roots may face challenges in some categories, they are making notable strides in others, particularly in the Vapor Pens segment.
Competitive Landscape
In the competitive landscape of Vapor Pens in Nevada, Roots has shown a notable fluctuation in its rankings over the past few months. Despite starting at rank 34 in March 2024, Roots climbed to rank 28 by June 2024, indicating a positive trend in market presence. This improvement is significant when compared to competitors like INDO, which hovered around the mid-20s but did not break into the top 20, and Vegas Valley Growers North, which saw a drop from rank 26 in May to rank 30 in June. Meanwhile, Matrix NV showed a strong performance by reaching rank 20 in May but fell back to rank 26 in June, suggesting some volatility. Baseline maintained a relatively stable position around the high 20s. Roots' upward trajectory in rankings, coupled with a steady increase in sales from March to June, positions it favorably against these competitors, highlighting its growing market acceptance and potential for continued growth in Nevada's Vapor Pens category.
Notable Products
In June 2024, the top-performing product for Roots was Cherry Chem Distillate Disposable (0.5g) in the Vapor Pens category, achieving the highest sales figure of 599 units. Following closely was Black Line - Peanut Butter Breath Hash Oil Disposable (0.5g), also in the Vapor Pens category, ranked second. Mac and Cheese Hash Oil Disposable (0.5g) secured the third position, maintaining the dominance of Vapor Pens in the top ranks. Sour Blueberry Live Resin Sugar (0.5g) in the Concentrates category ranked fourth, marking a notable presence outside the Vapor Pens category. Lastly, North Cake Distillate Disposable (0.5g) in the Vapor Pens category rounded out the top five, with these rankings showing a strong introduction as they were not listed in previous months.
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