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Nov-2024
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Overview
Market Insights Snapshot
In the Colorado market, Care Division has shown consistent performance in the Tincture & Sublingual category, maintaining a strong presence with a rank of 2 in both August and November 2024, despite a slight dip to rank 3 in October. This indicates a robust position in the market, although sales have seen a downward trend over these months. In the Topical category, Care Division has consistently held the 5th position from August through November 2024, suggesting a stable yet unchanging position in this segment. The steady ranking in both categories highlights Care Division's resilience in maintaining its brand presence, although it also points to potential areas for improvement in sales growth or market expansion.
It's notable that Care Division did not fall out of the top 30 brands in either category in Colorado, which can be seen as a positive indicator of its market strength and consumer loyalty. However, the lack of upward movement in rankings, particularly in the Topical category, suggests that while Care Division is maintaining its market share, it may face challenges in climbing higher against competitors. The brand's ability to sustain its ranking amidst fluctuating sales figures is commendable, yet it also poses questions about strategic initiatives that could be employed to enhance its market position and drive further growth.
Competitive Landscape
In the competitive landscape of the topical cannabis market in Colorado, Care Division consistently held the 5th rank from August to November 2024, indicating a stable position amidst fluctuating sales figures. Despite a downward trend in sales over these months, Care Division maintained its rank, suggesting a loyal customer base or effective market strategies. In contrast, Mary's Medicinals showed a slight dip in rank from 2nd in September and October to 3rd in November, although their sales remained significantly higher than Care Division's. Meanwhile, ioVia improved its rank from 10th in October to 7th in November, potentially posing a future threat if this upward trend continues. Nordic Goddess consistently ranked 4th, just above Care Division, but experienced a notable decline in sales, which could present an opportunity for Care Division to overtake them if they can capitalize on this weakness. My Brother's Flower maintained the 6th rank with declining sales, indicating that Care Division's position is secure for now, but vigilance is required to maintain this stability in a competitive market.
Notable Products
In November 2024, the top-performing product from Care Division was CBD:THC 1:1 The Truth Pain Relief Cream (2000mg CBD, 2000mg THC) in the Topical category, maintaining its first-place ranking for four consecutive months with sales of 603 units. The CBD/THC 10:1 Mend Tincture (1000mg CBD, 100mg THC) rose to second place from fifth in October, showing a notable improvement in its ranking. Meanwhile, the CBD/THC 5:1 Dream Sleep Tincture (500mg CBD, 100mg THC) secured the third position, moving up from fourth place. The Carefree - CBD/THC 1:1 Pain Relief Cream (500mg CBD, 500mg THC) dropped from third to fourth place, while the CBD:THC 1:1 Stress Free Tincture (100mg CBD, 100mg THC) fell to fifth place from second. Overall, the Tincture & Sublingual category saw significant shifts in rankings, indicating 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.
