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Aug-2024
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Overview
Market Insights Snapshot
Virtue Las Vegas has shown a varied performance across different categories in the state of Nevada. In the Concentrates category, the brand experienced a decline in rankings from 21st in May 2024 to 28th in July 2024, eventually falling out of the top 30 by August 2024. This downward trend in rankings corresponds with a significant drop in sales, indicating potential challenges in maintaining market share within this category. Conversely, in the Flower category, Virtue Las Vegas demonstrated more stability, maintaining a relatively consistent ranking around the 22nd to 24th positions from May to August 2024, with a noticeable uptick in sales by the end of the period.
In the Pre-Roll category, Virtue Las Vegas has shown impressive upward momentum. Starting at 22nd in May 2024, the brand climbed to 11th by August 2024, reflecting a strong and growing presence in this segment. This positive trend is further supported by a substantial increase in sales, especially notable in August. On the other hand, in the Vapor Pens category, Virtue Las Vegas did not rank in the top 30 in May 2024, but made a significant leap to 36th by July 2024. Despite this improvement, the brand did not sustain its position into August, indicating potential volatility or challenges in this segment. Overall, Virtue Las Vegas displays strengths in certain categories while facing hurdles in others, suggesting areas for strategic focus and improvement.
Competitive Landscape
In the highly competitive Nevada flower category, Virtue Las Vegas has demonstrated a relatively stable performance, maintaining a rank around the low 20s over the past few months. Despite a slight dip in August 2024 to rank 24, Virtue Las Vegas has shown resilience with a notable increase in sales, reaching $298,970. This is particularly significant when compared to competitors like Redwood, which experienced fluctuating ranks and a drop in sales to $236,976 in August. Another competitor, Summa Cannabis, saw a significant rise in rank from 38 in June to 22 in August, accompanied by a sales surge to $316,501, indicating a strong upward trend. Meanwhile, Twelve Twelve has consistently outperformed Virtue Las Vegas in rank, although its sales have slightly declined to $313,813 in August. Lastly, Good Green has shown a volatile performance, with its rank plummeting to 42 in June but recovering to 25 in August, alongside an increase in sales to $246,389. These dynamics suggest that while Virtue Las Vegas is holding its ground, the brand faces significant competition from both rising and established players in the Nevada market.
Notable Products
In August 2024, the top-performing product from Virtue Las Vegas was Orange Push Pop Pre-Roll (1g) in the Pre-Roll category, reclaiming its number one spot with impressive sales of $4,618. Private Reserve Pre-Roll (1g) moved up to second place, showing significant growth from previous months. Orange Push Pop (3.5g) maintained a consistent third-place ranking in the Flower category. Diamond Dust Pre-Roll (1g) re-entered the rankings at fourth place. Fig Bar Pre-Roll (1g) experienced a drop to fifth place after previously holding the top position in July 2024.
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.
