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Oct-2024
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Overview
Market Insights Snapshot
ioVia has demonstrated significant performance in the Colorado market, particularly within the Tincture & Sublingual category. The brand achieved a notable ascent to the number one rank in both August and October 2024, despite a dip to fourth place in September. This fluctuation indicates a strong presence and resilience in this category, suggesting ioVia's ability to recover and maintain a leading position. This performance is even more remarkable considering the competitive nature of the market, where not all brands manage to secure a spot in the top 30 consistently. It's clear that ioVia's strategy in this category is effectively resonating with consumers, allowing them to reclaim and sustain their top ranking after a temporary setback.
In contrast, ioVia's performance in the Topical category within Colorado presents a more stable yet less dominant picture. The brand consistently ranked within the top 10 from July to October 2024, although it experienced a gradual decline from eighth to tenth place. This downward trend might indicate challenges in maintaining a competitive edge or the emergence of stronger competitors in the Topical space. Despite this, ioVia's ability to remain within the top 10 highlights a solid foothold in the category, though it may need to innovate or adjust its strategies to regain higher rankings. The brand's sustained presence in the top 10 suggests a reliable consumer base and a product offering that, while not leading, still holds considerable appeal.
Competitive Landscape
In the competitive landscape of the Tincture & Sublingual category in Colorado, ioVia has demonstrated a resilient performance amidst fluctuating market dynamics. Despite a dip in rank to fourth place in September 2024, ioVia reclaimed the top position by October, indicating a robust recovery strategy and strong consumer loyalty. This is particularly notable as My Brother's Flower, which held the top rank in July, experienced a steady decline to third place by October. Meanwhile, Stratos showed a consistent upward trend, climbing from sixth to second place over the same period, suggesting increasing competition. ioVia's ability to regain the leading position highlights its competitive edge and potential for sustained market leadership, despite the dynamic shifts in consumer preferences and competitive pressures.
Notable Products
In October 2024, the top-performing product from ioVia was the CBD/THC 1:1 Unflavored Precision Dose Tincture (100mg CBD, 100mg THC), maintaining its first-place ranking for the third consecutive month with sales reaching 703 units. The CBD/THC 1:1 Lavender Restorative Bath Soak (100mg THC, 100mg CBD, 17.6oz) held steady in the second position, despite a notable decline in sales from previous months, now at 184 units. The CBD/THC 20:1 Tincture (190mg CBD, 10mg THC) remained consistently ranked third over the past four months, though its sales have gradually decreased to 152 units in October. New to the rankings in October were the CBD:THC 1:1 Precision Dose and the CBD:THC 1:1 Restorative Bath Soak - Tea Tree, both debuting at the fourth position with sales of 89 units each. These insights highlight a stable preference for tincture products while indicating a declining trend in the sales of the bath soak 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.
