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Oct-2024
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Overview
Market Insights Snapshot
Next1 Labs LLC has shown a consistent performance in the Colorado concentrates category, maintaining a strong position with a rank of 3rd in July, September, and October 2024, only briefly dropping to 4th in August. This consistency suggests a stable market share and consumer preference for their concentrates. However, in the pre-roll category, their performance has been more volatile, with rankings fluctuating between 15th and 19th. This indicates a competitive landscape where Next1 Labs LLC faces challenges to secure a top position. The vapor pens category, on the other hand, has shown promising growth, with the brand improving its rank from 21st in July to an impressive 11th in October. This upward trend in vapor pens could be indicative of strategic initiatives or product improvements that have resonated well with consumers.
Despite the positive movements in the vapor pens category, it is noteworthy that Next1 Labs LLC did not break into the top 30 brands in any other states or provinces across any categories, which might suggest a limited geographic footprint or brand recognition outside of Colorado. This could be an area of potential expansion or a strategic focus for the company in the future. The sales trends in Colorado reveal that while there was a decline in sales for concentrates from July to October, vapor pens experienced a significant sales increase, particularly in October. This divergence in sales performance across categories might reflect shifting consumer preferences or seasonal trends within the state.
Competitive Landscape
In the competitive landscape of vapor pens in Colorado, Next1 Labs LLC has shown a promising upward trajectory in recent months. Starting from a rank of 21 in July 2024, the brand has climbed steadily to position 11 by October 2024, indicating a significant improvement in market presence. This positive trend is underscored by a notable increase in sales, especially in October, where Next1 Labs LLC surpassed brands like The Clear, which experienced a drop from rank 7 to 12, and Packwoods, which fluctuated but remained behind Next1 Labs LLC in October. Meanwhile, AiroPro maintained a consistent ranking, but its sales figures did not exhibit the same upward momentum as Next1 Labs LLC. This dynamic shift highlights Next1 Labs LLC's growing influence and potential to capture a larger market share in the Colorado vapor pen category.
Notable Products
In October 2024, the High-C Distillate Cartridge (1g) emerged as the top-performing product for Next1 Labs LLC, climbing from the fifth position in the previous two months to secure the number one spot with sales of 9937 units. The Sunset Sherbet Distillate Cartridge (1g) maintained its consistent performance, holding steady in second place across the months with October sales reaching 8987 units. Ghost Train Haze Live Resin Cartridge (1g), previously the top product, slipped to third in October, despite a strong sales figure of 8260 units. The Grape Stomper Distillate Cartridge (1g) remained consistently in fourth place throughout the months, showing a solid sales increase to 8209 units in October. Cannalope Crush Distillate Cartridge (1g) saw its ranking drop to fifth in October, after being third in the previous two months, with sales reaching 7614 units.
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.
