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Oct-2024
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Overview
Market Insights Snapshot
In the state of Colorado, Bakked has shown a strong upward trajectory in the Vapor Pens category over the past few months. Starting outside the top 30 in July 2024, Bakked climbed to the 24th position by October 2024. This significant improvement in rankings indicates a growing consumer preference for Bakked's products in this category, reflecting a substantial increase in sales from $109,942 in July to $265,800 in October. Such a leap suggests that Bakked's strategies in product development or marketing may be resonating well with the Colorado market.
Despite the positive performance in Colorado, Bakked's absence from the top 30 rankings in other states and categories suggests that the brand may not have a strong foothold outside of its success with Vapor Pens in Colorado. This could be seen as a potential area for growth or a challenge to overcome, depending on their strategic goals. Brands that can replicate their success in one region across other markets often see substantial gains, but this requires careful market analysis and adaptation to local consumer preferences.
Competitive Landscape
In the competitive landscape of vapor pens in Colorado, Bakked has demonstrated a significant upward trajectory in recent months. Starting from a rank of 46 in July 2024, Bakked climbed to 24 by October 2024, showcasing a remarkable improvement in market position. This ascent is notable when compared to competitors such as EvoLab, which consistently remained outside the top 20, and Tastebudz, which saw a decline from 15 to 22 over the same period. Meanwhile, West Edison and Billo experienced fluctuating ranks, with Billo ending slightly ahead of Bakked at 23. The sales trends further highlight Bakked's growth, as it nearly doubled its sales from July to October, contrasting with the declining sales of Tastebudz. This upward momentum positions Bakked as a rising contender in the Colorado vapor pen market, potentially attracting more consumer interest and market share.
Notable Products
In October 2024, the top-performing product from Bakked was the Blueberry Muffin Distillate Cartridge (1g) in the Vapor Pens category, maintaining its number one rank from August and reclaiming it from July and September. The Maui Wowie Distillate Cartridge (1g) followed closely, holding the second position after previously fluctuating between first and third in earlier months. Lemon Cherry Gelato Distillate Cartridge (1g) consistently ranked third, showing stable performance across the months. Notably, Blueberry Muffin Distillate Cartridge (1g) achieved impressive sales of 6,582 units. The CBD:THC 1:1 Critical Mass Distillate Dabaratus (1g) emerged in the Concentrates category at fourth place, marking its first appearance in the rankings.
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.
