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Nov-2024
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Overview
Market Insights Snapshot
Next1 Labs LLC has shown varied performance across different product categories and states. In the Colorado market, the brand has maintained a strong presence in the Concentrates category, consistently ranking within the top five brands. However, there was a slight dip from rank 3 in October 2024 to rank 4 in November 2024, which might suggest increased competition or changes in consumer preferences. The Pre-Roll category has been more challenging for Next1 Labs LLC, where they have struggled to break into the top 15, remaining steady at rank 20 in both October and November 2024. This stability, albeit at a lower ranking, could indicate a loyal customer base that has not significantly expanded in recent months.
In the Vapor Pens category, Next1 Labs LLC has demonstrated significant upward momentum in Colorado. Starting from rank 21 in August 2024, the brand climbed to rank 10 by November 2024. This impressive rise indicates a growing consumer interest and possibly effective marketing strategies or product innovations that have resonated well with the market. Despite the brand's declining sales in some categories, the Vapor Pens' upward trend suggests a potential area of focus for Next1 Labs LLC to strengthen its market presence. Notably, the absence of Next1 Labs LLC from the top 30 in any other states or provinces highlights areas for potential growth and expansion beyond Colorado.
Competitive Landscape
In the competitive landscape of vapor pens in Colorado, Next1 Labs LLC has shown a notable upward trajectory in recent months, improving its rank from 21st in August 2024 to 10th by November 2024. This significant climb in rank indicates a positive reception of their products in the market, correlating with a steady increase in sales over this period. In comparison, Green Dot Labs and Seed & Strain Cannabis Co. have maintained relatively stable positions within the top 10, suggesting strong brand loyalty and consistent market presence. Meanwhile, AiroPro and Packwoods have experienced fluctuations in their rankings, with AiroPro slightly improving and Packwoods seeing a decline. These shifts highlight a dynamic market environment where Next1 Labs LLC's strategic initiatives and product offerings are effectively capturing consumer interest and driving competitive sales growth.
Notable Products
In November 2024, the top-performing product for Next1 Labs LLC was the Sunset Sherbet Distillate Cartridge (1g) in the Vapor Pens category, maintaining its leading position from October with sales of 7886. The Ghost Train Haze Live Resin Cartridge (1g) held the second rank, consistently performing well since August. The Cannalope Crush Distillate Cartridge (1g) also showed stability, ranking third with a steady climb in sales over the months. High-C Distillate Cartridge (1g), which was the top product in October, dropped to fourth place in November. Grape Stomper Distillate Cartridge (1g) completed the top five, slipping from third in October to fifth in November, indicating a slight decline in its sales momentum.
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.
