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Oct-2024
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Overview
Market Insights Snapshot
In Colorado, Dabs Labs has shown a consistent presence in the Vapor Pens category, fluctuating within the top 30 rankings over the past few months. Starting at the 23rd position in July 2024, the brand experienced a slight dip to 24th in August, followed by a notable rise to 19th in September. By October, however, Dabs Labs saw a slight decline, settling at the 21st spot. This movement indicates a dynamic market presence, with the brand managing to stay within the competitive ranks despite the fluctuating sales figures, which peaked in September at over $400,000. Such trends suggest that while Dabs Labs successfully maintained visibility in the market, there remains room for improvement in stabilizing their upward trajectory.
Despite their consistent rankings in Colorado, Dabs Labs did not appear in the top 30 brands in other states or categories over the same period, highlighting a potential area for growth and expansion. The absence from these rankings could be seen as a missed opportunity, suggesting that Dabs Labs might benefit from strategies to enhance their market penetration and brand recognition in other regions. The focus on Vapor Pens in Colorado seems to have been a strategic choice, yet exploring additional categories or states could provide a more diversified revenue stream and mitigate the risks associated with market saturation in a single area.
```Competitive Landscape
In the competitive landscape of vapor pens in Colorado, Dabs Labs has shown a dynamic performance over recent months. While Dabs Labs improved its rank from 24th in August 2024 to 19th in September 2024, it slightly declined to 21st in October 2024. This fluctuation is indicative of a competitive market where brands like Natty Rems and Sano Gardens have maintained stronger positions, with Natty Rems climbing to 20th and Sano Gardens dropping to 19th in October. Despite these challenges, Dabs Labs' sales in September 2024 outperformed its August figures, highlighting a positive trend in consumer preference. However, the brand faces stiff competition from Tastebudz, which, although dropping out of the top 20 in October, had been a close competitor in previous months. These insights suggest that while Dabs Labs is gaining traction, continuous strategic efforts are necessary to solidify its position against these formidable competitors in the Colorado vapor pen market.
Notable Products
In October 2024, Versa Choice - Sleep Distillate Cartridge (1g) maintained its position as the top-performing product for Dabs Labs, continuing its streak of being ranked number one since July 2024 with sales of 2659 units. Versa Energize Cartridge (1g) made a significant leap in rankings, moving from fourth place in August to second place in October, showing a strong upward trend in demand. Chill - Hybrid Distillate Cartridge (1g) remained consistently in third place, indicating stable consumer interest. Uplift - Sativa Distillate Cartridge (1g) saw a drop in its ranking from second in September to fourth in October, despite a previous upward trend. Energize - Sativa Distillate Cartridge (1g) held steady in fifth place, showing resilience amidst the competitive product landscape.
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.
