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Jun-2024
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Overview
Market Insights Snapshot
Virtue Las Vegas has shown varying performance across different categories in Nevada. In the Concentrates category, the brand has experienced a downward trend, moving from 12th place in March 2024 to 23rd place by June 2024. This decline is also reflected in their sales, which dropped from $56,129 in March to $18,068 in June. On the other hand, their performance in the Flower category has been inconsistent. After starting strong in March 2024 at 8th place, they fell to 21st in April and further down to 23rd in May, before slightly improving to 20th place in June. Despite the fluctuations, the Flower category remains a significant part of their portfolio, with sales of $277,706 in June 2024.
In the Pre-Roll category, Virtue Las Vegas has maintained a relatively stable but modest position. They ranked 13th in March 2024 and experienced minor fluctuations, ending up in 16th place by June 2024. Although their ranking dipped to 20th in May, they managed to recover slightly. Sales in this category have also seen some variation, with a noticeable dip in May but a recovery to $132,027 in June. It's important to note that Virtue Las Vegas did not make it into the top 30 brands in any other states or provinces for these categories, which could be seen as a limitation in their market reach or competitiveness.
Competitive Landscape
In the Nevada Flower category, Virtue Las Vegas has experienced significant fluctuations in its market rank and sales over the past few months. Starting at rank 8 in March 2024, Virtue Las Vegas dropped out of the top 20 in April and May, before re-entering at rank 20 in June. This volatility contrasts with competitors like Green Life Productions, which maintained a relatively stable position, fluctuating between ranks 11 and 19, and Hustler's Ambition, which saw a notable rise from rank 31 in March to rank 12 in May before settling at 18 in June. The sales figures for Virtue Las Vegas reflect this instability, with a sharp decline from March to April and continued decreases through June. In comparison, Redwood and Essence also showed fluctuating ranks but with less dramatic sales drops. This data suggests that Virtue Las Vegas may need to reassess its market strategies to stabilize and improve its competitive standing in the Nevada Flower market.
Notable Products
In June 2024, the top-performing product from Virtue Las Vegas was Fig Bar Pre-Roll (1g), which ascended to the number one rank with impressive sales of 2308 units. Orange Push Pop Pre-Roll (1g) maintained a strong position, ranking second, though it dropped from the top spot it held in May 2024. Orange Push Pop (3.5g) consistently held the third position over the past four months, showing stable performance. Private Reserve Pre-Roll (1g) entered the rankings at fourth place in June, indicating a significant rise in popularity. J1 Pre-Roll (1g) also made its debut in the top five, securing the fifth position.
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