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Oct-2024
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Overview
Market Insights Snapshot
Ript has shown a notable performance in the Colorado market, particularly in the Beverage and Edible categories. In the Beverage category, Ript has made significant progress, climbing from the 7th position in July 2024 to the 4th position by October 2024. This upward trend indicates a growing consumer interest and acceptance of Ript's beverage offerings in Colorado. The Edible category tells a different story, with Ript maintaining a steady 3rd position throughout the same period. This consistency suggests a strong foothold in the edible market, highlighting the brand's ability to retain its consumer base while potentially exploring new avenues for growth.
Interestingly, while Ript has been able to break into the top 30 in both categories in Colorado, the absence of rankings in other states or provinces indicates a limited market presence outside of this region. This could be seen as a strategic focus on the Colorado market, or it might suggest room for expansion opportunities in other markets. The steady rise in sales figures, particularly the increase from $51,450 in September to $61,471 in October for the Beverage category, underscores the brand's growth momentum. However, the lack of presence in other regions might be an area for Ript to explore further, potentially unlocking new growth avenues and diversifying their market reach.
Competitive Landscape
In the competitive landscape of the Edible category in Colorado, Ript has consistently maintained its position as the third-ranked brand from July to October 2024. Despite not overtaking the top two brands, Wyld and Wana, Ript has shown a positive sales trajectory, with a notable increase in sales each month, suggesting a growing consumer base and effective marketing strategies. In contrast, Tastebudz experienced a dip in rank in September before recovering, while Good Tide improved its rank slightly by October. This stable ranking amidst fluctuating competitors highlights Ript's strong market presence and potential for further growth in Colorado's edible market.
Notable Products
In October 2024, Ript's top-performing product was Faded Fruit Punch Gummies 10-Pack (100mg), maintaining its first-place ranking for four consecutive months with sales reaching 41,871 units. Blazed Blue Raz Gummies 10-Pack (100mg) consistently held the second position, closely trailing with sales of 41,669 units. The CBN/THC 1:2 Knockout Punch Gummies 10-Pack (50mg CBN, 100mg THC) remained steady in third place, showing a consistent upward trend in sales figures since August. Sour Smashed Watermelon Gummies 10-Pack (100mg) ranked fourth, recovering from a dip in August to match its July ranking. Baked Apple Gummies 10-Pack (100mg) re-entered the rankings in October at fifth place, after missing the list in September, indicating a resurgence in popularity.
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.
