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Nov-2024
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Overview
Market Insights Snapshot
Hedy has shown significant upward momentum in the edible category within Colorado, where it climbed from the 13th position in August 2024 to the 9th position by November 2024. This steady rise is supported by a notable increase in sales, which surged from approximately $177,641 in August to $261,149 in November. Such a trend suggests a growing consumer preference for Hedy's products in Colorado, positioning the brand as an increasingly prominent player in the state's edibles market. Meanwhile, in Maryland, Hedy maintained a relatively stable presence, hovering around the mid-20s in rankings, which indicates a consistent, albeit less aggressive, market performance.
In contrast, Hedy's performance in Illinois and Massachusetts presents a mixed picture. In Illinois, the brand made a remarkable jump from the 60th position in August to the 42nd position by November, highlighting a strong recovery and potential for growth. However, in Massachusetts, Hedy's rankings slipped slightly, falling from 46th in August to 51st in October, before dropping out of the top 30 entirely by November. This decline in Massachusetts suggests challenges in maintaining market share, possibly due to increased competition or shifting consumer preferences. These contrasting movements across states underscore the importance of regional strategies tailored to local market dynamics for Hedy's continued success.
Competitive Landscape
In the competitive landscape of the Colorado edible market, Hedy has demonstrated a notable upward trajectory in its rankings from August to November 2024. Initially ranked 13th in August, Hedy climbed to 9th by November, reflecting a consistent improvement in market position. This upward movement is indicative of a positive trend in sales performance, with Hedy's sales figures showing a steady increase over the months. In comparison, Incredibles maintained a stable position at 8th, suggesting a strong but static market presence. Meanwhile, Smokiez Edibles experienced fluctuations, peaking at 9th in September and dropping to 10th by November, which may indicate volatility in their sales strategy or market reception. Revel (CO) also showed variability, moving from 10th to 11th, while Joyibles consistently held the 7th position, underscoring its stable market share. Hedy's rise in rank and sales amidst these dynamics highlights its growing appeal and competitive edge in the Colorado edible sector.
Notable Products
In November 2024, the top-performing product from Hedy was the Sour Cherry Lime Gummies 10-Pack (100mg), maintaining its first-place rank for the fourth consecutive month with sales reaching 8,348 units. The Sour Green Apple Chews 10-Pack (100mg) climbed to second place, up from third in previous months, showing a significant surge in popularity. Sour Watermelon Gummies 10-Pack (100mg) dropped to third place, despite consistently holding the second spot in prior months. The Blueberry Acai Gummy 10-Pack (100mg) maintained its fourth-place rank, while the Passion Fruit Gummy 10-Pack (100mg) entered the top five for the first time since August. These shifts highlight dynamic consumer preferences within the Edible category.
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.
