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Aug-2024
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Overview
Market Insights Snapshot
Nove Luxury Chocolate has shown consistent performance in the Edible category across several months in Colorado. Notably, the brand maintained a steady presence within the top 15 rankings from May to August 2024. In May, it was ranked 14th, slightly improving to 13th in June, before settling back to 15th in July and August. This consistent ranking highlights the brand's stable market presence in the state. However, the slight fluctuation in rankings suggests there is room for growth and potential competition within the Edible category.
While Nove Luxury Chocolate's ranking has remained relatively stable, their sales figures demonstrate a positive trend. From May to July, there was a noticeable increase in sales, peaking in July before experiencing a slight dip in August. This upward trajectory, especially the peak in July, indicates increasing consumer interest and market penetration. However, the slight decline in August sales may signal seasonal variations or emerging competition. The brand's ability to maintain a top 15 position in a competitive market like Colorado is commendable, although the absence of top 30 rankings in other states or provinces could be a point of concern for broader market expansion.
Competitive Landscape
Nove Luxury Chocolate has shown a relatively stable performance in the Colorado edible market, maintaining a rank around the mid-teens from May to August 2024. Despite a slight dip in July, Nove Luxury Chocolate's sales have remained robust, peaking in June with a notable increase. Comparatively, Mr. Moxey's has consistently outperformed Nove, climbing to the 11th rank in July and maintaining higher sales figures throughout the period. Meanwhile, Rebel Edibles has shown significant volatility, peaking in July but dropping in August, which could indicate fluctuating consumer preferences. Interestingly, PAX experienced a dramatic rank drop in June and July but rebounded strongly in August, suggesting a potential for rapid market shifts. These dynamics highlight the competitive nature of the Colorado edible market and suggest that while Nove Luxury Chocolate is holding its ground, there is significant competition from brands like Mr. Moxey's and Rebel Edibles, which could impact its future market position and sales trends.
Notable Products
In August 2024, Sea Salt Caramel Milk Chocolate (100mg) from Nove Luxury Chocolate maintained its top rank as the best-selling product, although its sales dipped to 1689 units. The Honey Peanut Butter Milk Chocolate Bar (100mg) held steady at the second position, with notable sales of 1250 units. Raspberry Bramble Dark Chocolate 10-Pack (100mg) climbed back to third place, showing consistent improvement over the months. Glacier Mint Milk Chocolate (100mg) slightly dropped to fourth place but still exhibited strong sales performance. Cafe Cappuccino Milk Chocolate (100mg) remained in the fifth position, continuing its steady sales trend from previous months.
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.
