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Oct-2024
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Overview
Market Insights Snapshot
Mile High Xtractions (MHX) has shown a notable performance in the Colorado market, particularly in the Concentrates category. Over the past few months, MHX has improved its ranking from 64th in July 2024 to 52nd in October 2024. This upward trajectory suggests a positive reception and growing demand for their concentrates in the state. However, it's important to note that despite this progress, MHX has not yet broken into the top 30 brands, indicating room for growth and potential market penetration opportunities. The consistent increase in sales, peaking in September 2024, underscores a strengthening foothold in this category.
In contrast, the Vapor Pens category in Colorado presents a more fluctuating scenario for Mile High Xtractions (MHX). The brand experienced a notable drop in ranking from 28th in July to 31st in August, before rising to 21st in September, only to fall back to 30th in October. This volatility suggests a competitive landscape where MHX faces challenges in maintaining a stable position. Despite this, the brand achieved a peak in sales during September, indicating potential for capturing consumer interest. However, the drop in October sales suggests that MHX needs to strategize on sustaining consumer engagement to secure a more consistent ranking in this category.
Competitive Landscape
In the competitive landscape of vapor pens in Colorado, Mile High Xtractions (MHX) has experienced fluctuating ranks over the past few months, indicating a dynamic market presence. In July 2024, MHX was ranked 28th, but saw a dip to 31st in August, followed by a significant improvement to 21st in September, before falling back to 30th in October. This volatility suggests that while MHX can achieve competitive positioning, maintaining it is challenging amidst strong competition. For instance, Seed and Smith (LBW Consulting) consistently outperformed MHX, maintaining a rank between 23rd and 29th, with sales generally higher than MHX's. Meanwhile, Spectra started strong in the top 10 but experienced a decline, ending October at 33rd, which could indicate opportunities for MHX to capitalize on shifting consumer preferences. Additionally, Sauce Essentials showed a positive trend, moving up from 36th in August to 28th in October, suggesting a growing market share that MHX needs to watch closely. Overall, MHX's ability to regain and sustain higher ranks will be crucial in navigating this competitive market.
Notable Products
In October 2024, the top-performing product for Mile High Xtractions (MHX) was Zealousy Distillate Disposable (1g) in the Vapor Pens category, securing the number one rank with significant sales of 867 units. Following closely, Tropical Ice Pop Distillate Disposable (1g) achieved the second rank, marking its first appearance in the top rankings. The Menage Distillate Disposable (1g) and Lemon Drip Distillate Cartridge (1g) occupied the third and fourth positions, respectively, both debuting in the rankings for the first time. Gary Poppins Live Resin Cartridge (1g) rounded out the top five, also appearing for the first time in the rankings. Notably, Zealousy Distillate Disposable (1g) showed a remarkable rise, moving from second place in September to first place in October.
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.
