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Nov-2024
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Overview
Market Insights Snapshot
Highly Edible has shown varied performance across different categories and states in recent months. In the Colorado market, the brand has maintained a consistent presence in the Topical category, ranking 8th in August 2024 and slightly improving to 7th in September before settling at 9th in both October and November. This indicates a stable demand for their topical products, although a slight dip in rank towards the end of the period suggests increased competition or changes in consumer preferences. Despite fluctuations in sales figures, with a noticeable peak in September, Highly Edible has managed to stay within the top 10, highlighting a strong foothold in this category.
In contrast, Highly Edible's performance in the Nevada market's Edible category paints a different picture. The brand did not appear in the top 30 rankings from August to October 2024, which may indicate challenges in market penetration or competition from other brands. However, by November, Highly Edible made a notable entry into the rankings at the 27th position. This late entry could signal a strategic push or a successful marketing campaign that improved their visibility and sales in the Nevada market. Despite the absence from the rankings in earlier months, the November position suggests potential for growth if the brand can build on this momentum.
Competitive Landscape
In the Colorado topical cannabis market, Highly Edible has experienced notable fluctuations in its ranking and sales over recent months. As of November 2024, Highly Edible maintained its position at 9th place, consistent with its October ranking, despite a dip from 7th place in September. This stability in rank comes amidst a competitive landscape where NectarBee has consistently outperformed Highly Edible, holding a higher rank in both October and November. Meanwhile, ioVia showed a significant improvement, climbing from 10th place in October to 7th in November, surpassing Highly Edible. Interestingly, Nove Luxury Chocolate entered the top 10 in September and improved to 8th place in October, although it did not maintain a top 20 position in August. These dynamics suggest that while Highly Edible remains a stable player, it faces increasing competition from both established and emerging brands, indicating a need for strategic adjustments to enhance its market position.
Notable Products
In November 2024, Highly Edible's top-performing product was the CBD/THC 1:1 Nordic Goddess Body Balm, which regained its position as the top-ranking product with sales reaching 304 units. This product had previously ranked first in September before dropping to second in October. The Sativa Assorted Sour Pucks 10-Pack emerged as the leading edible, sharing the top rank with the body balm, marking a significant rise from an unranked position in preceding months. The Sativa Sweet Pucks secured the second rank among edibles, showing a consistent presence despite not being ranked in October. Lastly, the Indica Sweet Assorted Pucks 20-Pack maintained its third-place ranking, showing a steady increase in sales from previous months.
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.
