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Oct-2024
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Overview
Market Insights Snapshot
In the state of Colorado, NectarBee has shown varying performance across different product categories. In the Concentrates category, the brand did not make it into the top 30 rankings for July or August 2024, but by September, it climbed to the 64th position, further improving to 57th in October. This upward trend suggests a growing consumer interest or effective marketing strategies that have started to pay off in recent months. However, being outside the top 30 for two months indicates there is still significant room for improvement to compete with leading brands in this category.
Conversely, in the Topical category in Colorado, NectarBee has demonstrated a strong and consistent presence. Starting in July 2024, the brand was ranked 9th, and by October, it had improved to the 7th position, maintaining a steady top 10 status throughout the period. This consistent ranking is indicative of a robust product line in the Topical category, possibly due to consumer loyalty or high product efficacy. The noticeable increase in sales from July to October also highlights the brand's strengthening foothold in this segment. While these insights are promising, further exploration into their strategies and consumer preferences could provide a deeper understanding of NectarBee's market dynamics.
Competitive Landscape
In the Colorado Topical category, NectarBee has demonstrated a notable upward trend in its market position over the past few months, moving from 9th place in July 2024 to 7th place by October 2024. This improvement in rank indicates a positive reception of their products, likely driven by a steady increase in sales, which rose consistently from July to October. Despite this progress, NectarBee faces stiff competition from brands like Care Division, which has maintained a strong and consistent 5th place ranking throughout the same period, and My Brother's Flower, which holds 6th place. While Highly Edible and Nove Luxury Chocolate have fluctuated in their rankings, NectarBee's consistent climb suggests a growing brand loyalty or successful marketing strategies that could further enhance its competitive edge in the coming months.
Notable Products
In October 2024, NectarBee's top-performing product was the CBD/THC 1:1 Heal Line Muscle Balm in the Topical category, which regained its leading position with sales reaching 690 units. Following closely, Pure Caviar in the Concentrates category maintained a strong presence, ranking second with a slight decrease from its peak in September. The CBD/THC 1:5 Heal Line Nerve Salve, also in the Topical category, consistently held the third spot across the months, showing a steady increase in sales. Ginger Ale, a Beverage product, remained steady at fourth place throughout the period, indicating stable demand despite fluctuating sales figures. Overall, NectarBee's top products demonstrated consistency in rankings, with minor shifts primarily between the top two 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.
