Verano

Data Snapshot: Jun 11, 2024
Verano Cannabis Brand Logo
$5M+

May-2024

Sales

Decline

Trend

6-Month

594

Product Count

SKUs

Verano

Overview

Verano is a recognized, multi-state cannabis company in the United States, known for cultivating a premium selection of cannabis strains and products aimed at personalizing experiences for both new and seasoned users. Beyond its status as a cultivator, Verano expands its focus on cannabis education, showing its commitment to fostering an informed cannabis community. Leveraging its rapid growth, the company notably ventures into social equity initiatives, such as the opening of their first joint venture location in Connecticut.
Product Trends

Verano Categories

Verano Sales

Market Insights Snapshot

Verano Historical Sales by Category

Verano has exhibited varied performance across different states and product categories. In Illinois, the brand has shown consistent strength in the Pre-Roll category, maintaining a top-three position for the past four months. However, Verano's performance in Concentrates has been more volatile, with a noticeable drop in May 2024 where it fell out of the top 30 rankings. The Flower category in Illinois has seen a steady improvement, moving from the 30th position in February to 23rd in May. This indicates a positive trend in consumer preference for Verano's flower products in the state.

In Maryland, Verano's Pre-Roll category continues to perform exceptionally well, consistently holding a top-three position. However, the brand's Vapor Pens category has experienced fluctuations, ranking as low as 25th in March before slightly improving to 21st by May. In Nevada, Verano's presence in the Concentrates category was strong in February but did not maintain a top 30 position in subsequent months, which could be concerning. Conversely, in Ohio, Verano entered the top 30 for Vapor Pens in May, indicating a potential growth area. These mixed results highlight the brand's strengths and challenges across different markets and categories.

May-2024 Rank
Concentrates
Flower
Pre-Roll
Vapor Pens
23
3
19
57
36
3
21
11
28
22
Verano

Competitive Landscape

In the Illinois Pre-Roll category, Verano has experienced a slight decline in its competitive position over the past few months. Initially holding the second rank in February and March 2024, Verano dropped to third place in April and May 2024. This shift can be attributed to the consistent performance of Dogwalkers, which has maintained its top rank throughout this period, and the rising sales of Ozone, which moved up to the second rank by May 2024. Despite this, Verano's sales figures remain robust, indicating strong brand loyalty and market presence. However, the increasing competition from Nature's Grace and Wellness and High Supply, which have shown stable rankings, suggests that Verano must innovate and strategize effectively to reclaim its higher rank and drive further sales growth.

Verano market ranking for IL Pre-Roll

Verano

Notable Products

In May-2024, Verano's top-performing product was Reserve Stix - Gelato Pre-Roll (1g), maintaining its first-place ranking with notable sales of $9,580. Reserve Stix - Lemon Sorbet Pre-Roll (1g) continued to hold the second spot, while Traveler Essence - Bombsicle BDT Distillate Disposable (0.3g) consistently ranked third. Reserve Swift Lifts - Gelato Pre-Roll 5-Pack (2.5g) climbed to fourth place after being unranked in April-2024. Essence Swift Lifts - Yum Yum Pre-Roll 5-Pack (2.5g) appeared in the rankings for the first time, securing the fifth position.

Product Rank
Category
Feb-2024
Mar-2024
Apr-2024
May-2024
Reserve Stix - Gelato Pre-Roll (1g)
Pre-Roll
5
>5
1
1
Reserve Stix - Lemon Sorbet Pre-Roll (1g)
Pre-Roll
>5
>5
2
2
Traveler Essence - Bombsicle BDT Distillate Disposable (0.3g)
Vapor Pens
4
5
3
3
Reserve Swift Lifts - Gelato Pre-Roll 5-Pack (2.5g)
Pre-Roll
>5
1
>5
4
Essence Swift Lifts - Yum Yum Pre-Roll 5-Pack (2.5g)
Pre-Roll
>5
>5
>5
5
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