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Nov-2024
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Overview
Market Insights Snapshot
In the state of Colorado, Canyon's performance in the Edible category has shown a notable decline over the months from August to November 2024. The brand's ranking dropped from 22nd in August to 28th by November, indicating a downward trend in its competitive position. This decline is further reflected in the sales figures, which saw a significant decrease from August to November. Such movement suggests that Canyon might be facing increased competition or shifting consumer preferences in the Edible category. Interestingly, Canyon did not make it to the top 30 in the Pre-Roll category after August, which might highlight a challenge in maintaining a presence across multiple product categories.
The absence of Canyon in the top 30 rankings for Pre-Rolls in the following months after August could be seen as a setback, emphasizing the brand's struggle to capture a significant market share in this category. This situation could be indicative of either a strategic decision to focus on other categories or a need to reassess their approach in the Pre-Roll segment. While the Edible category still sees Canyon within the top 30, albeit with a declining trend, the lack of presence in the Pre-Roll category might suggest potential areas for growth or improvement. The data from Colorado provides a snapshot of the brand's current market challenges and opportunities, offering insights into the competitive landscape they are navigating.
Competitive Landscape
In the competitive landscape of the Colorado edible market, Canyon has experienced notable fluctuations in its ranking and sales over the past few months. While Canyon held the 20th position in September 2024, it saw a decline to 28th by November 2024. This downward trend in rank is mirrored by a significant decrease in sales, from $84,683 in September to $42,776 in November. In contrast, brands like Sweet Mary Jane and Billo have shown resilience, with Sweet Mary Jane improving its rank from 33rd in September to 30th in November, and Billo maintaining a relatively stable position despite minor rank fluctuations. Binske and Dutch Girl have also demonstrated more consistent performance, with Dutch Girl even climbing from 29th in October to 26th in November. These dynamics suggest that while Canyon faces challenges in maintaining its market position, competitors are capitalizing on opportunities to stabilize or improve their standings, potentially at Canyon's expense.
Notable Products
In November 2024, Canyon's top-performing product was the Chew It - CBD/THC 1:1 Sour Lemonade Gummies 40-Pack, maintaining its first-place ranking from the previous two months, despite a drop in sales to 696 units. The Chew It - Sativa Sour Cherry Limeade Gummies 40-Pack climbed to the second position, improving from its fifth-place ranking in October. The Suck It - Sativa Strawberry Lemonade Hard Candy 40-Pack, which was second in October, fell to third place. Suck It - Indica Blue Raspberry Hard Candy 40-Pack also experienced a decline, moving from third to fourth place. Finally, the Suck It - CBD/THC/CBN 1:1:1 Pink Lemonade Hard Candy 40-Pack remained in the fifth position, consistent with its October ranking.
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.
