Market Insights Snapshot
In the competitive New York market, Veterans Choice Creations (VCC) has shown a notable performance across several cannabis product categories, as evidenced by the rankings and sales data. Particularly strong showings in the Tincture & Sublingual and Topical categories, where VCC maintained top 5 rankings consistently over the past few months, demonstrate the brand's solid footing in these segments. The Tincture & Sublingual category saw VCC climbing from a rank of 5 in October 2023 to rank 4 by January 2024, alongside a significant sales increase from 6742 units in October 2023 to 16999 units by January 2024. Similarly, in the Topical category, VCC improved its position from rank 4 in October 2023 to rank 2 by January 2024, with sales more than tripling in the same period. However, it's worth noting a new entry into the Vapor Pens category in January 2024 at rank 44, suggesting VCC is expanding its product lineup but has yet to capture a significant market share in this category.
While VCC has demonstrated growth and stability in certain categories, its performance in others indicates areas for potential improvement or strategic realignment. The Flower category, for instance, saw a slight dip in rankings from 7 in November 2023 to 11 by January 2024, despite being one of the brand's highest volume sales categories. This fluctuation could reflect the highly competitive nature of the Flower market in New York or possibly inventory and supply chain challenges. The Pre-Roll category rankings also experienced a decline, moving from rank 51 in November 2023 to rank 59 by January 2024, which might signal a need for VCC to revisit its strategy within this segment. However, the consistent rankings in the Beverage and Edible categories, despite not breaking into the top 20, suggest a steady demand for these products, highlighting the brand's diverse appeal across the cannabis product spectrum in New York.
In the competitive landscape of the flower category within New York's cannabis market, Veterans Choice Creations (VCC) has demonstrated a fluctuating yet resilient performance. Initially ranked 8th in October 2023, VCC improved to 7th in November, experienced a slight dip to 11th in December, and then stabilized at 11th in January 2024. This trajectory indicates a competitive resilience amidst a dynamic market. Notably, Electraleaf and Hudson Cannabis have consistently outperformed VCC, maintaining top 10 positions throughout this period, with Electraleaf notably dropping from 3rd to 10th by January 2024, and Hudson Cannabis slightly improving its rank to 9th. On the other hand, Mfny (Marijuana Farms New York) showed remarkable growth, moving from 17th in October to 12th by January 2024, closely trailing VCC. Tyson 2.0, despite not being ranked until December, quickly ascended to 13th by January 2024, showcasing the volatile nature of market entries and their potential to disrupt existing rankings. This analysis underscores the importance of strategic agility for VCC to maintain and improve its competitive stance in a rapidly evolving market.
In January 2024, Veterans Choice Creations (VCC) saw Spacebuds - Blueberry Muffin Moonrocks (4g) leading the sales chart, maintaining its top position since October 2023, with sales figures reaching 1838 units. Following closely was Spacebuds - End Game Moonrock (4g), which also held its rank at second place consistently over the past few months. A notable rise was observed with Spacebuds - Snow Panda Moonrocks (3.5g), which climbed to the third position in January from its fourth place debut in December, showcasing a significant increase in consumer interest. The CBD/THC 1:6 Liberty Squares Assorted Fruit Gummy 10-Pack (15mg CBD, 90mg THC) from the Edible category ranked fourth, moving up one spot since November and showing a steady increase in sales. Lastly, Blue Cookies (3.5g) entered the rankings at fifth place, a new addition to the top products list for January, indicating a diversifying consumer preference within VCC's product offerings.