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Dec-2024
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Overview
Market Insights Snapshot
Next1 Labs LLC has demonstrated notable performance in the Colorado market, particularly in the Concentrates category. Over the last few months, the brand has shown a significant upward trend, climbing from the 6th position in October 2024 to 3rd by December 2024. This improvement indicates a strong foothold in the Concentrates category, with sales figures reflecting a rebound to levels similar to those in September after a slight dip in October. In contrast, the Pre-Roll category saw a stable yet less dynamic performance, maintaining a consistent 20th ranking in September and October, with a slight dip to 22nd in November before recovering to 20th again in December. This consistency suggests a steady demand, although there might be room for growth in this segment.
In the Vapor Pens category, Next1 Labs LLC has made impressive strides, moving from 21st place in September to 12th by December in Colorado. This upward trajectory highlights the brand's growing popularity and competitive edge in this segment. The increase in sales from October to December further underscores this positive trend, suggesting effective strategies in marketing or product offerings. However, the absence of rankings in other states or categories suggests that while Next1 Labs LLC is performing well in Colorado, there may be missed opportunities for expansion or diversification into other markets or categories. This presents a potential area for growth and strategic development for the brand moving forward.
Competitive Landscape
In the competitive landscape of vapor pens in Colorado, Next1 Labs LLC has demonstrated a notable upward trajectory in brand ranking and sales performance from September to December 2024. Initially ranked 21st in September, Next1 Labs LLC climbed to the 12th position by December, indicating a strong competitive push. This improvement is particularly significant when compared to competitors such as Green Dot Labs, which experienced a decline from 7th to 10th place over the same period, and The Colorado Cannabis Co., which maintained a relatively stable position around the 14th rank. Meanwhile, X Vapes made a dramatic leap from 57th to 11th place, showcasing a significant surge in market presence. Despite this, Next1 Labs LLC's consistent sales growth, culminating in a peak in December, positions it favorably against these competitors. The brand's ability to improve its rank and sales amidst a dynamic market underscores its growing influence and potential for further expansion in Colorado's vapor pen category.
Notable Products
In December 2024, the Ghost Train Haze Live Resin Cartridge (1g) from Next1 Labs LLC emerged as the top-performing product, regaining its position from September with a notable sales figure of 8505. The Sunset Sherbet Distillate Cartridge (1g) maintained strong performance, securing the second rank after leading in November. Cannalope Crush Distillate Cartridge (1g) climbed to the third spot, showing a consistent upward trend from its fifth position in October. The Grape Stomper Distillate Cartridge (1g) held steady at fourth place, while the High-C Distillate Cartridge (1g) experienced a drop from its peak first rank in October to fifth in December. Overall, December's rankings reflect a dynamic shift in consumer preferences, with Ghost Train Haze reclaiming its dominance in the Vapor Pens category.
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.
