Market Insights Snapshot
Looking at the performance of Summa Cannabis in the Nevada market, we see a slight decline in their rankings in the Flower category from August to November 2023. They started at rank 10 in August and slipped to rank 13 by November. This indicates a slight decrease in their competitive position within this category. However, it's worth noting that despite the fall in rankings, they have managed to stay within the top 20 brands in this category, which is commendable.
On the other hand, in the Pre-Roll category, Summa Cannabis has shown an upward trend in the same state. They started at rank 50 in August and climbed up to rank 37 by November. This is a significant improvement, considering they were not even in the top 20 brands at the beginning of this period. This upward trend suggests that Summa Cannabis has been successful in gaining market share in the Pre-Roll category in Nevada. However, there's still room for growth as they're yet to break into the top 20 brands in this category.
In the Nevada Flower category, Summa Cannabis has seen a slight decline in rank from 10th in August 2023 to 13th in November 2023. This is in contrast to Kynd Cannabis Company which improved its rank from 14th to 12th over the same period. Interestingly, Curaleaf, a brand that was consistently ranked higher than Summa Cannabis, saw a significant drop from 7th to 15th. Meanwhile, Firestar, which was not in the top 20 in August, made a remarkable jump to 11th by November. Find., another competitor, maintained a relatively stable position around Summa Cannabis' rank. In terms of sales, while specific figures are not disclosed, it can be inferred that Summa Cannabis' sales have been slightly decreasing, similar to Curaleaf, while Firestar has seen a noticeable increase.
In November 2023, the top-performing product from Summa Cannabis was Mother's Milk (1g) with sales of 1323 units. This product climbed from the 2nd rank in September to the top spot in November. The second and third highest selling products were GMO (1g) and Chemistry (3.5g), respectively, both of which were not among the top sellers in the previous months. The product Wedding Cake (3.5g), which held the top position from August to October, fell to the 4th rank in November. The 5th rank was occupied by Jealousy 58 (1g), another product that wasn't in the top ranks in earlier months.