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Sep-2024
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Overview
Market Insights Snapshot
Srene's performance in the Nevada market has shown varied results across different categories. In the Flower category, Srene has struggled to maintain a strong presence, failing to break into the top 30 rankings from June to September 2024. This indicates a challenging competitive landscape or potential shifts in consumer preferences. Conversely, the Vapor Pens category has been a more successful area for Srene, consistently ranking within the top 20. Notably, Srene achieved its highest ranking in July 2024, securing the 11th position, although it experienced a slight dip to 17th by September. This fluctuation suggests a dynamic market environment where Srene's Vapor Pens are relatively well-received compared to their Flower offerings.
While Srene's Vapor Pens have maintained a stronger position in Nevada, the sales trend reveals a decline from July to September, with sales dropping by approximately 37% over this period. This downward trend could be attributed to seasonal factors, increased competition, or shifts in consumer preferences. The absence of Srene in the top 30 for the Flower category during these months underscores the importance of strategic adjustments to enhance their market standing. Understanding these dynamics can provide valuable insights for stakeholders looking to capitalize on growth opportunities or address potential challenges within the cannabis industry.
Competitive Landscape
In the competitive landscape of vapor pens in Nevada, Srene has experienced notable fluctuations in its rankings over the past few months, reflecting shifts in market dynamics. In June 2024, Srene held a respectable 16th position, but climbed to 11th in July, indicating a positive reception and increased sales momentum. However, by August, Srene's rank slipped to 13th, and further dropped to 17th in September, suggesting challenges in maintaining its competitive edge. Meanwhile, INDO consistently improved its position, moving from 22nd in June to 15th by August and September, demonstrating a steady upward trend in sales. Similarly, BOUNTI showed resilience by bouncing back to 16th in September after a dip in July. In contrast, Dabwoods Premium Cannabis made significant gains, advancing from 29th in June to 18th in September. These movements highlight the competitive pressures Srene faces, emphasizing the need for strategic adjustments to regain and sustain higher market positions in Nevada's vapor pen category.
Notable Products
In September 2024, the top-performing product for Srene was the 747 Distillate Cartridge (1g) in the Vapor Pens category, securing the number one rank with sales of 1018 units. The Strange Haze #8 Distillate Cartridge (1g) maintained its position at rank two, although its sales decreased from August. Governmint Oasis Distillate Cartridge (1g) rose to third place, improving from its previous rank of four in July. Inzane In The Membrane Distillate Cartridge (1g) made its debut in the rankings at the fourth position. Lastly, Horchata Distillate Cartridge (0.9g) rounded out the top five, indicating a strong presence of Vapor Pens in Srene's product lineup for September.
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.
