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Oct-2024
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Overview
Market Insights Snapshot
Hummingbird has shown notable performance improvements in the Colorado market, particularly in the Flower category. Over the course of four months, from July to October 2024, Hummingbird's rank in this category has impressively climbed from 34th to 15th. This upward movement is indicative of a strong growth trajectory, with sales figures reflecting a substantial increase from $217,201 in July to $381,764 in October. Such a rise suggests effective market strategies and increasing consumer preference for their Flower products. However, the brand's absence from the top 30 in July highlights a significant turnaround, showcasing their ability to gain traction rapidly in a competitive landscape.
In contrast, Hummingbird's performance in the Pre-Roll category in Colorado has been less impressive. Despite some fluctuations, their ranking has remained outside the top 60, peaking at 62nd in August before falling to 66th by October. This indicates a challenge in gaining a strong foothold in the Pre-Roll market, possibly due to intense competition or less favorable consumer reception compared to their Flower offerings. The sales figures for Pre-Rolls have also shown inconsistency, with a notable dip in September. This suggests areas for potential improvement, perhaps through product innovation or targeted marketing strategies to boost visibility and consumer interest in this category.
Competitive Landscape
In the competitive landscape of the Colorado flower category, Hummingbird has demonstrated a notable upward trajectory in recent months. Starting from a rank of 34 in July 2024, Hummingbird climbed to 15 by October 2024, indicating a significant improvement in market positioning. This upward movement is contrasted by the fluctuating ranks of competitors such as Bonsai Cultivation, which saw a dip out of the top 20 in August and September before recovering to 16 in October. Meanwhile, Super Farm experienced a rapid rise to 17 in August and maintained a similar position through October, suggesting strong competition in the mid-tier ranks. In The Flow maintained a relatively stable presence, peaking at rank 8 in September, while Green Tree Medicinals (CO) showed a decline from 7 in August to 14 in October. These dynamics highlight Hummingbird's successful strategies in gaining market share and improving sales performance, positioning it as a growing contender in the Colorado flower market.
Notable Products
In October 2024, Crosswalker (Bulk) from Hummingbird maintained its top position in the Flower category, with impressive sales reaching 2126 units. Super Boof Pre-Roll (1g) consistently held the second spot in the Pre-Roll category since August, showing steady performance with a slight increase to 646 units sold. Banana OG (3.5g) made a notable entry into the rankings at third place, indicating strong market reception. Spritzer (14g) followed closely in fourth position, contributing to the competitive Flower category. Blue Dream (3.5g) re-entered the top five, moving up to fifth place after being unranked in previous months, highlighting a resurgence in popularity.
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.
