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Aug-2024
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Overview
Market Insights Snapshot
Summa Cannabis has shown varied performance across different categories and states, with notable movements in the Nevada market. In the Flower category, Summa Cannabis has demonstrated significant improvement, climbing from a rank of 38 in June 2024 to 19 in July 2024, before slightly dropping to 22 in August 2024. This upward trend in the middle of the summer suggests a strong seasonal demand or successful marketing strategies. Conversely, the Pre-Roll category has been more challenging for Summa Cannabis in Nevada. The brand did not make it into the top 30 rankings for the months of May, June, or July 2024, although it managed to improve to a rank of 45 in August 2024. This indicates that while there is some positive movement, the brand still faces stiff competition in this category.
Examining the sales figures, Summa Cannabis has seen a notable increase in Flower sales from $173,656 in June 2024 to $322,217 in July 2024, which aligns with their improved ranking during this period. However, the Pre-Roll category has shown fluctuating sales with a significant drop in July 2024, followed by a recovery in August 2024. This inconsistency might suggest issues with product availability or consumer preference shifts. The absence of Summa Cannabis from the top 30 rankings in the Pre-Roll category for several months could be seen as a negative indicator, suggesting that the brand needs to reassess its strategy in this segment to gain a stronger foothold. Overall, while Summa Cannabis has made notable strides in the Flower category in Nevada, there remains room for growth and improvement in the Pre-Roll segment.
Competitive Landscape
In the highly competitive Nevada flower category, Summa Cannabis has shown notable fluctuations in its ranking over the past few months. Starting at rank 32 in May 2024, Summa Cannabis improved significantly to rank 19 in July 2024 before slightly dropping to rank 22 in August 2024. This upward trend in the middle months suggests a positive reception to their products, although the slight decline in August indicates the need for sustained marketing efforts. In comparison, Virtue Las Vegas has maintained a relatively stable position, hovering around rank 22-24, while Kynd Cannabis Company experienced a drop from rank 14 in July to rank 21 in August. Meanwhile, Twelve Twelve and Flower House have both seen more consistent rankings, with Flower House even breaking into the top 10 before falling to rank 20 in August. These dynamics highlight the volatile nature of the market and underscore the importance for Summa Cannabis to continue innovating and engaging with customers to maintain and improve its market position.
Notable Products
In August 2024, the top-performing product for Summa Cannabis was Lemon Snow Cone Popcorn (14g) in the Flower category, achieving the highest sales figure of 1228 units. Following closely, Mother's Milk (14g) also in the Flower category, ranked second with notable sales. Gary Payton (3.5g) and Sunset Sherbert (1g), both Flower products, secured the third and fourth positions respectively. Grapes and Cream (1g) maintained its fifth position from July 2024, although it had previously been ranked second in June 2024. This indicates a consistent performance for the top four products, while Grapes and Cream experienced a slight decline in its ranking over the past 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.
