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Oct-2024
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Overview
Market Insights Snapshot
Joyibles has shown a noteworthy performance in the Edible category within the state of Colorado. Over the past few months, the brand has climbed steadily in the rankings, moving from 49th place in July 2024 to 23rd place by October 2024. This upward trajectory indicates a strong growth in consumer preference and market penetration for their edible products. The brand's sales figures have also reflected this positive trend, with a significant increase observed from July to October. This growth suggests that Joyibles is gaining traction and potentially capturing a larger share of the edible market in Colorado, although they have yet to break into the top 20. The absence of Joyibles from the top 30 brands in other states or categories could imply challenges in those markets, or it might simply reflect a more focused strategy within Colorado.
While Joyibles has made strides in Colorado, their absence from the top 30 in other states or categories could be seen as a drawback or an opportunity for future growth. The brand's concentrated success in Colorado's edible market might indicate a strong local presence or a particularly appealing product line that resonates well with consumers in that region. However, the lack of visibility in other states suggests that there may be untapped potential or competitive challenges that Joyibles could address to expand their market footprint. Observing how Joyibles leverages their Colorado success to potentially enter other markets or categories will be an interesting development to watch in the coming months.
Competitive Landscape
In the competitive landscape of the Colorado edible cannabis market, Joyibles has demonstrated a notable upward trajectory in its rankings over the past few months, moving from 49th in July 2024 to 23rd by October 2024. This rise in rank is significant, especially when compared to competitors like Canyon and NFuzed, both of which experienced fluctuations and declines in their rankings, with Canyon dropping out of the top 20 in October and NFuzed falling from 17th to 22nd in the same period. Joyibles' consistent increase in sales, particularly from August to October, suggests a growing consumer preference and effective market strategies, contrasting with the declining sales of Canyon and NFuzed. Meanwhile, Billo maintained a stable position at 24th in September and October, and Spinello Cannabis Co. showed a slight improvement from 32nd to 25th, indicating a competitive but dynamic market environment where Joyibles is gaining momentum.
Notable Products
In October 2024, the top-performing product for Joyibles was Joy Bombs - Original Fruit Chews 40-Pack (100mg) in the Edible category, maintaining its number one rank from the previous two months with a notable sales figure of 3,285 units. The Joybombs - CBD/THC 1:1 Sour Fruit Chews 40-Pack (100mg CBD, 100mg THC) consistently held the second position across all months from July to October. Joybombs - CBD/THC 1:1 Berry Blends Chews 40-Pack (100mg CBD, 100mg THC) improved its ranking from fourth to third place in October, indicating a positive sales trend. Joy Bombs - CBN/THC 1:1 Dream Blends Fruit Chews 40-Pack (100mg CBD, 100mg THC) saw a decline in ranking, moving from third in September to fourth in October. Meanwhile, Quick - Sleep - CBN/THC 1:1 Dream Blends Mixes (50mg CBN, 50mg THC) was not ranked in October, suggesting a possible drop in sales or market presence.
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.
