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Dec-2024
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Overview
Market Insights Snapshot
In Colorado, Harmony Extracts has shown varied performance across different product categories. In the Concentrates category, the brand has demonstrated a slight improvement in its ranking from September to December 2024, moving from 24th to 22nd place. This upward trend, despite a gradual decrease in sales, indicates a relative strengthening in market position compared to competitors. However, the sales figures suggest a need for strategic adjustments to maintain and enhance this positive trajectory. On the other hand, the Vapor Pens category tells a different story, where Harmony Extracts experienced a decline in ranking, slipping from 16th to 20th place over the same period. This drop is coupled with a noticeable decrease in sales, highlighting potential challenges in this category that may need addressing to regain a competitive edge.
It's noteworthy that Harmony Extracts maintained its presence within the top 30 brands in both categories throughout the final months of 2024 in Colorado. This consistent presence, despite fluctuations in rankings, underscores the brand's established foothold in the market. However, the absence of top 30 rankings in other states or provinces could indicate a limited geographical reach or varying competitive dynamics outside Colorado. This could present both a challenge and an opportunity for Harmony Extracts, as expanding their market presence could potentially lead to increased brand recognition and sales across broader regions. Understanding these dynamics will be crucial for the brand's strategic planning and future growth.
Competitive Landscape
In the competitive landscape of vapor pens in Colorado, Harmony Extracts has experienced a notable shift in its market position from September to December 2024. Initially ranked 16th in September, Harmony Extracts saw a gradual decline to 20th by December. This downward trend in rank coincides with a decrease in sales, particularly evident in December when sales dropped significantly. In contrast, Olio, which maintained a strong position at 13th place from September to November, also saw a decline to 19th in December, indicating potential market challenges for top brands. Meanwhile, Haze (CO) showed a fluctuating performance, peaking at 15th in October before dropping to 22nd in December. Sano Gardens maintained a relatively stable rank, ending December at 18th, suggesting a more consistent market presence. These dynamics highlight the competitive pressures Harmony Extracts faces, underscoring the importance of strategic adjustments to regain and sustain higher market rankings.
Notable Products
In December 2024, Harmony Extracts' top-performing product was Flash - Fairy Floss Distillate Disposable (1g) in the Vapor Pens category, maintaining its consistent first-place ranking throughout the past four months with a sales figure of 3540. Flash - Watermelon Distillate Disposable (1g) saw a significant rise, climbing from fifth place in November to second place in December. Flash - Grape Distillate Disposable (1g) re-entered the rankings in December at third place, showing strong performance despite missing data for October and November. Flash - Strawberry Distillate Disposable (1g) held steady in the fourth position, while Flash - Mountain Blast Distillate Disposable (1g) experienced a drop from second to fifth place over the same period. This analysis highlights the dynamic shifts in consumer preferences within Harmony Extracts' Vapor Pens lineup.
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.
