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Aug-2024
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Overview
Market Insights Snapshot
Highly Edible has shown varied performance across different states and categories over the past few months. In Colorado, the brand has not ranked in the top 30 for the Edible category from May to August 2024, indicating a potential struggle in this competitive market segment. Conversely, in the Topical category within the same state, Highly Edible has maintained a strong presence, ranking 9th in May and improving to 7th in both June and July before dropping out of the top 30 in August. This fluctuation suggests that while they have a foothold in the Topical market, there are still challenges to maintaining consistent performance.
In Nevada, Highly Edible's performance in the Edible category has been relatively stable but not particularly strong. The brand ranked 27th in May and June, dropped slightly to 29th in July, and then fell out of the top 30 by August. This downward trend could be indicative of increasing competition or shifting consumer preferences within the state. Despite these challenges, the brand's consistent presence in the rankings earlier in the year shows that there is still a potential market for their products, albeit one that may require strategic adjustments to regain and maintain a higher ranking.
Competitive Landscape
In the competitive landscape of the Colorado edibles market, Highly Edible has shown fluctuating performance, with notable competitors such as LEIFFA, Lazercat Cannabis, Green Treets, and Pure Edibles impacting its rank and sales. Highly Edible did not make it into the top 20 brands from May to August 2024, indicating a challenging period. In contrast, Green Treets demonstrated a strong upward trend, climbing from rank 40 in May to 37 in August, with a significant sales increase from $13,018 to $23,875. LEIFFA also showed resilience, re-entering the top 20 in July and maintaining a steady position in August. Lazercat Cannabis and Pure Edibles, although not consistently ranked, still pose competition with their sporadic appearances in the top 20. These dynamics suggest that Highly Edible needs to strategize effectively to regain its competitive edge in the Colorado edibles market.
Notable Products
In August 2024, the top-performing product for Highly Edible was Sour Assorted Indica Gummy Pucks 10-Pack (100mg), maintaining its first-place position from June 2024 and showing a significant sales increase to 911 units. Sativa Assorted Sour Pucks 10-Pack (100mg) ranked second, consistent with its June 2024 position but with lower sales compared to previous months. CBD:THC 1:1 Wrangler Relief Balm (250mg CBD, 250mg THC 1.4oz) rose to third place from fifth in July 2024, indicating a growing popularity. CBD/THC 1:1 Nordic Goddess Body Balm (250 CBD, 250 THC, 2oz) dropped to fourth place after leading in July 2024. Indica Sweet Assorted Pucks 20-Pack (100mg) re-entered the rankings at fourth place, despite not being in the top ranks in July 2024.
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.
