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Sep-2024
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Overview
Market Insights Snapshot
In the state of Colorado, EvoLab has experienced a noticeable decline in the Vapor Pens category. Starting from the 18th rank in June 2024, the brand slipped to the 26th position by September 2024. This downward trend is mirrored by the sales figures, which show a reduction from approximately $468,638 in June to about $246,859 in September. Such a decline in both sales and ranking might indicate increased competition or changing consumer preferences in the state. However, the brand's consistent presence within the top 30 suggests it still holds some market share and consumer interest, despite the challenges.
In contrast, EvoLab's performance in Maryland and Nevada presents a different picture. In Maryland, the brand did not make it into the top 30 for the Vapor Pens category until August, where it ranked 46th, indicating a challenging market entry or limited brand recognition. Meanwhile, in Nevada, EvoLab's presence in the Flower category was sporadic, with a 67th rank in June, missing from the top 30 in July, and reappearing at 92nd in August, before dropping out again in September. This irregular performance could suggest difficulties in establishing a foothold or variability in consumer demand. These insights highlight the varying dynamics EvoLab faces across different states and categories, pointing to potential opportunities for strategic focus and market adaptation.
Competitive Landscape
In the competitive landscape of vapor pens in Colorado, EvoLab has experienced a notable decline in both rank and sales over the past few months. In June 2024, EvoLab held the 18th position, but by September 2024, it had fallen to 26th, indicating a downward trend. This decline is contrasted by competitors like West Edison, which improved its rank from 27th in June to 25th in September, and Billo, which rose from 35th to 24th in the same period. Meanwhile, Seed and Smith (LBW Consulting) showed fluctuations but managed to peak at 21st in August before dropping to 27th in September. The entry of Sauce Essentials into the rankings in August at 36th and climbing to 28th by September further intensifies the competition. These shifts highlight the dynamic nature of the market and the need for EvoLab to innovate and strategize to regain its standing amidst rising competitors.
Notable Products
In September 2024, EvoLab's top-performing product was the Colors - Blueberry CO2 Disposable (1g) from the Vapor Pens category, climbing to the first rank with sales of 1019 units. This product showed a notable improvement from the consistent third position it held from June to August. The Colors - White Cherry CO2 Disposable (1g) slipped to second place, marking its first drop from the top spot since June. Meanwhile, the Chroma Color - Watermelon Co2 Disposable (1g) improved its rank to third, up from fourth in the previous two months. The Colors - Wild Berry CO2 Disposable (1g) maintained a strong presence, securing fourth place, while the Colors - Strawberry Lemonade BDT Distillate Disposable (1g) saw a decline to fifth from its previous second position in June and August.
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.
