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Jul-2024
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Overview
Market Insights Snapshot
Mile High Xtractions (MHX) has shown varied performance across different categories and states over recent months. In the Colorado market, their ranking in the Concentrates category has been outside the top 30, indicating a challenging period for this product line. From April to July 2024, their rank fluctuated from 59th to 55th, with sales steadily declining from $17,323 to $13,276. This downward trend suggests a need for strategic adjustments or enhanced marketing efforts to regain a competitive edge in the Concentrates category.
Conversely, MHX has seen relatively better performance in the Vapor Pens category within Colorado. Despite some fluctuations, they have consistently remained within the top 30 brands, peaking at 22nd in June 2024. Sales in this category experienced a significant spike in June, reaching $366,954, before dropping to $251,717 in July. This indicates a strong consumer demand for their Vapor Pens, although the decline in July suggests potential market saturation or increased competition. Overall, while MHX faces challenges in certain areas, their Vapor Pens category shows promise and potential for growth with the right strategic focus.
Competitive Landscape
In the competitive landscape of vapor pens in Colorado, Mile High Xtractions (MHX) has shown fluctuating performance in recent months. Despite a strong showing in June 2024, where MHX climbed to the 22nd rank, the brand experienced a decline to the 27th position by July 2024. This volatility is notable when compared to competitors such as Seed and Smith (LBW Consulting), which maintained a relatively stable ranking, hovering around the 25th to 27th positions. Meanwhile, West Edison consistently outperformed MHX, holding a steady rank of 26th in July 2024. Another competitor, Billo, showed significant improvement, moving from the 46th rank in May 2024 to the 29th rank in July 2024, which could indicate a rising threat to MHX's market share. The data suggests that while MHX has the potential for high sales, its position is vulnerable to the dynamic movements of its competitors in the Colorado vapor pen market.
Notable Products
In July 2024, the top-performing product from Mile High Xtractions (MHX) was Zealousy Distillate Cartridge (1g) in the Vapor Pens category, leading with impressive sales figures of 968 units. Following closely, Colorado Creamsicle Distillate Disposable (1g) secured the second position, showing a significant rise from its previous fifth rank in May 2024. Dolato Distillate Disposable (1g) ranked third, maintaining a strong presence in the Vapor Pens category. Colorado Creamsicle Distillate Cartridge (1g) and Rainbow Chip Distillate Cartridge (1g) took the fourth and fifth spots, respectively. Notably, the rankings indicate a dynamic shift with rising sales for these top products compared to previous months.
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.
