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Oct-2024
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Overview
Market Insights Snapshot
Highly Edible has demonstrated a varied performance across different categories and states over recent months. In Colorado, the brand has not made it into the top 30 rankings in the Edible category from July to October 2024, signaling a potential area for improvement or increased competition in that market segment. Conversely, in Nevada, Highly Edible managed to secure the 28th spot in July 2024 within the Edible category, but their presence in the top rankings did not continue in subsequent months, indicating a decline or changes in consumer preferences.
In the Topical category in Colorado, Highly Edible has maintained a relatively stable position, ranking 7th in July and September, and 8th in August and October 2024. This consistency suggests a steady demand and possibly a loyal customer base for their topical products in Colorado. However, the sales figures show some fluctuation, with a notable decrease in October compared to previous months, which could be due to seasonal trends or market dynamics. These insights highlight the importance of monitoring both category performance and regional trends to strategize effectively in the cannabis market.
Competitive Landscape
In the Colorado Topical category, Highly Edible has experienced fluctuations in its ranking over the past few months, consistently oscillating between the 7th and 8th positions. This indicates a stable yet competitive position in the market. Notably, NectarBee has shown a competitive edge, surpassing Highly Edible in August and October 2024, suggesting a potential threat to Highly Edible's market share. Meanwhile, ioVia has seen a decline in its rankings, dropping to 10th place in October, which could present an opportunity for Highly Edible to strengthen its position. Additionally, Nove Luxury Chocolate entered the top 20 in September and improved its rank by October, indicating a rising competitor. However, My Brother's Flower has maintained a steady 6th place, consistently outperforming Highly Edible, highlighting the need for strategic initiatives to enhance sales and improve ranking.
Notable Products
In October 2024, Highly Edible's Sour Assorted Indica Gummy Pucks 10-Pack (100mg) maintained its position as the top-selling product, having regained the top rank from September with sales of 335 units. The CBD/THC 1:1 Nordic Goddess Body Balm (250 CBD, 250 THC, 2oz) slipped to second place after leading in September, reflecting a notable decrease in sales. Indica Sweet Assorted Pucks 20-Pack (100mg) climbed to third place, improving from its consistent fifth-place ranking in the previous months. Indica Sour Pucks (100mg) held steady at fourth place, while Indica Assorted Sweet Pucks 10-Pack (100mg) entered the rankings for the first time at fifth place. The Edible category continues to dominate the top ranks, showcasing a strong consumer preference for a variety of gummy products.
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.
