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Oct-2024
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Overview
Market Insights Snapshot
Pyramid Pens has shown varied performance across different categories and states over the past few months. In the Concentrates category in Colorado, the brand was not ranked in the top 30 in July 2024 but made a significant entry in August, ranking 56th, and improved to 44th by September and October. This upward trend suggests a growing acceptance and possibly a strategic shift in their product offerings or marketing efforts. However, in Michigan, Pyramid Pens has experienced fluctuations in the same category. Starting at 34th in July, the brand's ranking slipped to 42nd in August, climbed back to 36th in September, but fell again to 46th in October. Such volatility could indicate challenges in maintaining a stable market presence or competitive pressures in the Michigan concentrates market.
In the Vapor Pens category within Colorado, Pyramid Pens has maintained a relatively stable position, albeit with some fluctuations. The brand was ranked 22nd in July 2024, dropped to 33rd in August, and then slightly improved to 27th in September and October. Despite the decline in sales from July to October, the brand's ability to stay within the top 30 suggests a consistent consumer base or effective brand loyalty strategies. Notably, the absence of Pyramid Pens from the top 30 in any additional states or categories could be seen as a limitation in their market reach or an opportunity for expansion, depending on the brand's strategic goals. These movements highlight the competitive nature of the cannabis market and the importance of adapting to consumer preferences and market dynamics.
Competitive Landscape
In the competitive landscape of vapor pens in Colorado, Pyramid Pens has experienced notable fluctuations in its market position over recent months. Starting from a rank of 22 in July 2024, Pyramid Pens saw a significant drop to 33 in August, before recovering slightly to stabilize at 27 in both September and October. This volatility suggests a dynamic market environment, with competitors like EvoLab and West Edison also showing fluctuating ranks, though West Edison notably improved its position from 32 in August to 24 in September. Meanwhile, Seed and Smith (LBW Consulting) and Sauce Essentials have not shown consistent upward trends, with Sauce Essentials not even ranking in the top 20 in July. Despite the rank changes, Pyramid Pens' sales have been higher than many competitors, indicating a strong brand presence that could be leveraged to regain and maintain a higher market position in the future.
Notable Products
In October 2024, Pyramid Pens' top-performing product was the Waiting Game Distillate Cartridge (1g) in the Vapor Pens category, securing the number one rank with sales of 2063 units. The Thelonious Skunk Live Resin (1g), a Concentrates category product, maintained its position at rank two, despite a decrease in sales from September. The Prism - Alien Stardawg Distillate Cartridge (1g) saw a drop from first to third place in the Vapor Pens category, indicating a notable shift in consumer preference. Truffle Cake Budder (5g) entered the rankings for the first time at fourth place, highlighting a growing interest in the Concentrates category. Lastly, the Prism - Tangerine Dream Distillate Cartridge (1g) debuted at fifth place, showcasing potential for growth in the Vapor Pens lineup.
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.
