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Nov-2024
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Overview
Market Insights Snapshot
ioVia has demonstrated a strong performance in the Tincture & Sublingual category in Colorado, consistently ranking at the top for most of the months from August to November 2024. Despite a brief dip to the fifth position in September, ioVia quickly regained its number one spot in October and maintained it into November. This resilience in the rankings indicates a robust brand presence and consumer preference within this category. However, the sales figures reveal a slight fluctuation, with a notable drop in September before a recovery in November. This suggests potential market dynamics or seasonal influences affecting consumer purchasing behavior.
In the Topical category, ioVia's performance in Colorado has been more variable, with rankings fluctuating between ninth and tenth positions from August to October, before improving to seventh in November. This upward movement in November could signal a positive response to marketing efforts or product innovations. Nonetheless, ioVia's absence from the top 30 in other states or categories highlights areas where the brand could potentially expand or improve its market reach. The sales trend in the Topical category shows a significant increase in November, which may reflect strategic adjustments or increased consumer interest during this period.
Competitive Landscape
In the competitive landscape of the Tincture & Sublingual category in Colorado, ioVia has demonstrated a strong market presence, consistently ranking at the top in August, October, and November 2024, despite a temporary drop to fifth place in September. This fluctuation highlights a potential vulnerability during that month, possibly due to market dynamics or promotional activities by competitors. Notably, Care Division maintained a steady performance, holding the second rank in August, September, and November, and only briefly dropping to third in October. Meanwhile, My Brother's Flower showed a more volatile performance, fluctuating between third and fifth positions over the same period. Despite these shifts, ioVia's ability to reclaim and maintain the top spot suggests a strong brand loyalty and effective marketing strategies that could be further leveraged to counteract competitive pressures and sustain sales growth.
Notable Products
In November 2024, ioVia's top-performing product was the CBD/THC 1:1 Unflavored Precision Dose Tincture (100mg CBD, 100mg THC) in the Tincture & Sublingual category, maintaining its first-place rank consistently from August through November, with sales reaching 591 units. The CBD/THC 1:1 Lavender Restorative Bath Soak (100mg THC, 100mg CBD, 17.6oz) in the Topical category also held its second-place position throughout these months, showing a notable sales increase to 521 units in November. The CBD/THC 20:1 Tincture (190mg CBD, 10mg THC) remained steady at third place since September, after climbing from fourth in August. The CBD :THC 1:1 Aloe Vera Restorative Bath Soak (100mg THC, 100mg CBD 17.6oz) improved its rank from fifth in October to fourth in November. Lastly, the CBD:THC 1:1 Restorative Bath Soak - Tea Tree (100mg CBD, 100mg THC) entered the rankings in October at fourth place and settled at fifth in November, indicating a growing interest in ioVia's bath soak 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.
