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Sep-2024
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Overview
Market Insights Snapshot
El Sol Labs has demonstrated a dynamic performance in the Colorado market, particularly in the Concentrates category. The brand showed a promising upward trajectory, moving from the 15th rank in July 2024 to the 8th rank by September 2024. This improvement suggests that El Sol Labs is gaining traction and possibly expanding its consumer base in this category. Notably, the brand was consistently within the top 15 for most of the summer, indicating a strong presence. However, the Vapor Pens category tells a different story, as El Sol Labs did not make it into the top 30, reflecting a potential area for growth or reevaluation of strategy in this segment.
Despite the fluctuations in ranking, El Sol Labs maintained a steady performance in sales across the Concentrates category, with a noticeable increase in August 2024. This could indicate a successful marketing campaign or product innovation that resonated well with consumers. In contrast, the Vapor Pens category saw a slight decline in sales over the months, which may require strategic adjustments to regain momentum. The absence from the top 30 in Vapor Pens is a critical point of reflection for the brand as it strategizes future moves within Colorado. These insights provide a glimpse into the brand's current standing and potential areas of focus to enhance its market position.
Competitive Landscape
In the competitive landscape of concentrates in Colorado, El Sol Labs has experienced notable fluctuations in rank and sales over the past few months. While El Sol Labs saw a dip in rank from 11th in June 2024 to 15th in July, it managed to recover to 8th place by September. This recovery is significant, especially when compared to competitors like The Colorado Cannabis Co., which jumped from 18th to 7th place in the same period, indicating a more aggressive upward trajectory. Meanwhile, Denver Dab Co consistently maintained a top 10 position, peaking at 7th in August before dropping to 9th in September. Despite these shifts, El Sol Labs' sales showed resilience, with a notable rebound in September, suggesting a potential for sustained growth if the brand continues to leverage its strengths against competitors like Chronic Creations and Nomad Extracts, both of which experienced their own rank fluctuations. This dynamic environment highlights the importance of strategic positioning and market adaptation for El Sol Labs to maintain and enhance its competitive edge.
Notable Products
In September 2024, Mendo Cream Sangria Wax (1g) emerged as the top-performing product for El Sol Labs, leading the sales in the Concentrates category with a notable figure of 648 units sold. Following closely, 8 Mile Blow Pop Wax (1g) secured the second position, while Indica Wax (4g) climbed to the third spot from its consistent fifth place in the previous two months. Purple Tang Wax (1g) and Jello Salad Wax (1g) rounded out the top five, holding the fourth and fifth positions, respectively. Notably, the Indica Wax (4g) demonstrated a significant improvement in ranking, moving up from fifth in July and August to third in September. This data indicates a strong performance and growing popularity of El Sol Labs' Concentrates in the market.
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.
