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Oct-2024
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Overview
Market Insights Snapshot
Rare Dankness has shown varying performance across different product categories and states. In the Colorado market, the brand's presence in the Concentrates category has been relatively stable, maintaining a position within the top 30 for the past few months. Notably, Rare Dankness improved its ranking from 27th in August 2024 to 20th in September 2024, before slightly declining to 24th in October 2024. This fluctuation in ranking corresponds with a noticeable increase in sales during September, indicating a temporary surge in demand. However, the sales figures in October suggest a downward trend, which might be a point of concern for stakeholders monitoring their market share in this category.
In contrast, the Flower category presents a different picture for Rare Dankness in Colorado. The brand has struggled to secure a spot in the top 30, with rankings fluctuating outside of this range, indicating a more challenging competitive landscape. From July to October 2024, Rare Dankness's rank dropped from 57th to 66th, suggesting a decline in market presence or increased competition. This downward trend in rankings aligns with a consistent decrease in sales over the same period, highlighting potential challenges in maintaining consumer interest or product differentiation. These insights could be pivotal for strategic adjustments as the brand navigates the evolving cannabis market dynamics.
Competitive Landscape
In the competitive landscape of Colorado's concentrates category, Rare Dankness has shown a dynamic performance over the past few months. Starting from a rank of 28 in July 2024, Rare Dankness improved to 20 by September, before dropping slightly to 24 in October. This fluctuation indicates a competitive market where brands like Harmony Extracts and Sunshine Extracts are also vying for top positions. Notably, Harmony Extracts, despite a dip in August, maintained a stronger sales performance than Rare Dankness, suggesting a robust brand presence. Meanwhile, Sunshine Extracts experienced a decline in October, which could provide an opportunity for Rare Dankness to regain its rank. The absence of Spherex from the top 20 during these months highlights the volatility and potential for Rare Dankness to capitalize on shifting consumer preferences and market dynamics.
Notable Products
In October 2024, Tropicana Banana (1g) from Rare Dankness maintained its position as the top-selling product in the Flower category, with a notable sales figure of 2,433 units. Widow Fighter Sugar Wax (1g) made a significant leap, climbing from fifth place in September to become the second best-selling product in the Concentrates category. Widow Fighter (Bulk) saw a decline, dropping to third place in the Flower category from its previous top rank in July. Apples & Bananas Sugar Wax (1g) emerged as a new contender, securing the fourth position in the Concentrates category. Mai Tai (Bulk) rounded out the top five in the Flower category, slipping from its second position in September.
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.
