Market Insights Snapshot
Looking at the performance of the cannabis brand Srene across different categories, it's clear that their strongest presence is in the Flower category. In Nevada, Srene has consistently ranked within the top 10 brands from July to October 2023, improving from 10th to 7th place over this period. This is a positive indicator of the brand's growth and popularity in the Flower category. However, the brand's performance in the Concentrates category has been less consistent, with rankings fluctuating between 36th and 27th place over the same period.
When it comes to the Edibles and Vapor Pens categories, Srene has struggled to break into the top 20 brands in Nevada. In the Edibles category, the brand's ranking has hovered around the mid-50s, while in the Vapor Pens category, it has varied between 44th and 49th place. This indicates a need for the brand to improve its performance and standing in these categories. Nevertheless, it's worth noting that despite not being in the top 20, Srene has managed to maintain a steady presence in these categories, which suggests potential for growth in the future.
In the Flower category for Nevada, Srene has shown a steady improvement in its ranking from July to October 2023, moving from 10th to 7th place. This progression suggests a positive growth trend for the brand, outperforming its competitors such as Shango and Curaleaf, which have seen a drop in their rankings over the same period. Srene also surpassed Rythm in October, despite Rythm's higher ranking in the previous months. However, Srene still trails behind STIIIZY, which consistently held a spot in the top 5. It's worth noting that the absence of a rank for a particular month indicates that the brand was not among the top 20 in that category for the given month.
In October 2023, the top-performing product from Srene was Fruity Popcorn (14g), ranking first with a notable sales figure of 3694 units. The second best-selling product was Strange Haze #8 (3.5g), improving its rank from fourth in September to second. However, Daystripper (3.5g), which had previously held the top spot in July and August, dropped to third place in October. The fourth and fifth spots were occupied by new entries, Purple Haze Popcorn (14g) and 747 Popcorn (14g) respectively. This shows a shift in consumer preference towards popcorn-sized flower products in the month of October.