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Sep-2024
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Overview
Market Insights Snapshot
In the bustling cannabis beverage market of New York, Weed Water has shown a consistent presence in the top ranks. The brand maintained its position at rank 3 in July and August 2024, before slightly dropping to rank 4 in September. This indicates a strong foothold in consumer preference despite the competitive nature of the beverage category. The sales figures for July and August reflect a positive trajectory, but a noticeable dip in September suggests that the brand might face challenges in maintaining its upward trend. Such fluctuations could be attributed to market dynamics or seasonal variations, which are crucial for stakeholders to monitor.
While Weed Water's performance in New York is noteworthy, it is important to observe its absence from the top 30 rankings in other states, which could indicate either a strategic focus on specific markets or potential areas for growth. The brand's ability to consistently rank within the top five in New York's beverage category suggests that there is a strong consumer base and effective marketing strategies in place. However, expanding its reach to other states could provide a significant boost to its overall market presence. Understanding the factors behind its success in New York could serve as a blueprint for replication in other regions. The absence of data from other states also highlights the need for Weed Water to evaluate and potentially diversify its market strategy.
Competitive Landscape
In the competitive landscape of the New York cannabis beverage market, Weed Water has demonstrated notable fluctuations in its ranking over the past few months. In June 2024, Weed Water was ranked fourth, but it climbed to third place in July and August, before dropping back to fourth in September. This indicates a competitive tussle with brands like MyHi and Harney Brothers Cannabis, which have also experienced shifts in their rankings. Notably, Tune has maintained a consistent second-place position throughout this period, underscoring its strong market presence. Despite the fluctuations, Weed Water's sales have shown a positive trend from June to August, before a decline in September, which mirrors the sales pattern of MyHi. Meanwhile, Altua entered the top 20 only in September, ranking eighth, suggesting a potential emerging competitor. These dynamics highlight the competitive pressures Weed Water faces in maintaining and improving its market position in New York's cannabis beverage category.
Notable Products
In September 2024, the top-performing product for Weed Water was the CBD/THC 1:5 Pineapple Express Water (2mg CBD, 10mg THC, 222ml) in the Beverage category, maintaining its leading position with sales of 3,292 units. The CBD/THC 5:1 Pineapple Express Water 6-Pack (12mg CBD, 60mg THC) climbed to second place, showing a consistent upward trend from fifth in June. Gelato 41 Water (2mg CBD, 10mg THC) slipped to third place after holding the top spot in June. The CBD/THC 5:1 Gelato Water (2mg CBD, 10mg THC) ranked fourth, while the CBD/THC 5:1 Gelato Water 6-Pack (12mg CBD, 60mg THC) rounded out the top five. Notably, the rankings for these products have shown a dynamic shift over the months, reflecting changing consumer preferences.
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.
