Market Insights Snapshot
In the Nevada market, Virtue Las Vegas has shown varied performance across different categories. In the Concentrates category, the brand has experienced a slight decline in its ranking, moving from 6th place in July 2023 to 10th place in October 2023. This could be indicative of increased competition or a shift in consumer preferences. In contrast, the brand's performance in the Flower category has remained relatively stable, though it has consistently ranked outside of the top 20, suggesting room for improvement.
Interestingly, Virtue Las Vegas has demonstrated notable improvement in the Pre-Roll and Vapor Pens categories. In the Pre-Roll category, the brand has climbed from a ranking of 37th in July to 24th in October 2023, hinting at a successful strategy or product offering in this area. Similarly, in the Vapor Pens category, Virtue Las Vegas has made a significant jump from a ranking of 50th in July to 39th in October. This upward trend, despite still being outside the top 20, could point to potential growth opportunities for the brand in these categories in the Nevada market.
In the Nevada Flower category, Virtue Las Vegas has seen a relatively stable rank, fluctuating slightly between 22nd and 26th place from July to October 2023. This is in contrast to some of their competitors who have seen more significant changes. For instance, Matrix NV jumped from 39th to 15th place between August and September, while The Grower Circle dropped from 11th to 27th place between September and October. Bohemian Bros and High Heads have also seen fluctuations in their rankings, indicating a highly competitive market. In terms of sales, Virtue Las Vegas has maintained a steady performance, with minor ups and downs, while competitors like Matrix NV and High Heads have seen more significant increases. This data suggests that while Virtue Las Vegas has a stable presence in the market, there are dynamic shifts occurring among other brands in the Nevada Flower category.
In October 2023, Virtue Las Vegas' top-performing product was the Diamond Dust Pre-Roll (1g), which climbed from the second position in previous months to the top spot with a sales figure of 2130 units. Following closely at second place was the Northern Lights Cartridge (Half Gram), a new entrant in the top-performing list. The Fig Bar (3.5g), which had consistently held the top position in July and August, dropped to third place in October. The Orange Push Pop (3.5g) maintained a steady performance, securing the fourth spot, up from the third position in August. Rounding off the top five was the Fig Bar Pre-Roll (1g), holding its position from September.