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Aug-2024
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Overview
Market Insights Snapshot
In the Colorado market, Mile High Dabs has shown a fluctuating performance in the Concentrates category over the past few months. Starting at rank 25 in May 2024, the brand experienced a dip, placing at rank 30 in both June and July, before making a slight recovery to rank 24 by August. This movement indicates a volatile market presence, with a notable decline in sales from $115,350 in May to $68,313 in July, followed by a modest uptick to $72,915 in August. The initial drop and subsequent recovery suggest that while Mile High Dabs faced challenges, there is potential for stabilization or growth in the coming months.
It is important to highlight that Mile High Dabs managed to stay within the top 30 brands in the Concentrates category in Colorado throughout the observed period, which is a positive sign despite the fluctuations. The brand's ability to climb back to rank 24 in August after hitting the lowest ranks in June and July reflects a resilience that could be leveraged for future strategic planning. However, the competitive nature of the market is evident, and Mile High Dabs will need to maintain or improve its ranking to ensure sustained success.
Competitive Landscape
In the competitive landscape of Colorado's concentrates market, Mile High Dabs has experienced notable fluctuations in its ranking and sales over recent months. From May to August 2024, Mile High Dabs' rank varied between 24th and 30th, indicating a struggle to maintain a stable position. In contrast, competitors like Bud Fox Supply Co and Lazercat Cannabis have shown more consistent performance, with Bud Fox Supply Co ranking as high as 8th in June before dropping to 22nd in August, and Lazercat Cannabis maintaining a top 25 position throughout the period. Additionally, TREES has demonstrated a significant upward trend, climbing from 64th in May to 26th in August. These shifts highlight the competitive pressure Mile High Dabs faces, particularly from brands that are either stabilizing at higher ranks or showing upward momentum. This dynamic environment suggests that Mile High Dabs needs to strategize effectively to improve its market position and capitalize on potential sales opportunities.
Notable Products
In August 2024, Mile High Dabs' top-performing product was Strawberry Guava Wax (1g), which rose to the number one position with notable sales of 1089 units. Rainbow Belts Wax (1g) slipped to the second position, down from its previous first place in June and July, with sales of 978 units. Loompas Headband Wax (1g) maintained its third position for the second consecutive month, showing a slight decline from July's sales. Fritter Breath Sugar Wax (1g) remained steady at fourth place, consistent with its July ranking. Coffee Creamer Wax (1g) held the fifth position, mirroring its ranking from July, despite a small decrease in sales.
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.
