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Oct-2024
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Overview
Market Insights Snapshot
In the Colorado market, Spectra has shown notable fluctuations across various categories. Within the Concentrates category, Spectra demonstrated a strong performance, maintaining a top 10 position throughout the months of July to October 2024, despite a dip in September when it fell to the 9th position before rebounding to 5th place in October. This indicates a resilient market presence and an ability to recover quickly from setbacks. In contrast, the Vapor Pens category tells a different story, where Spectra started strong in July and August, ranking 9th and 10th respectively, but saw a significant drop in September and October, falling out of the top 30. This decline suggests challenges in maintaining competitive momentum in this category.
Meanwhile, Spectra's performance in the Pre-Roll category in Colorado was less prominent, as they did not secure a position within the top 30 brands from August to October 2024. This absence from the rankings highlights potential areas for improvement or strategic focus for the brand moving forward. Despite these challenges, the Concentrates category remains a stronghold for Spectra, suggesting that the brand may benefit from leveraging its strengths in this area to regain ground in other categories where performance has waned. Overall, Spectra's journey across these categories in Colorado reflects both its competitive capabilities and the dynamic nature of the cannabis market.
Competitive Landscape
In the competitive landscape of the Colorado concentrates market, Spectra has experienced notable fluctuations in its ranking and sales over the past few months. While Spectra started strong in July 2024, ranking 4th, it saw a dip to 9th place by September, before rebounding to 5th in October. This volatility contrasts with the consistent performance of Next1 Labs LLC, which maintained a stable position at 3rd throughout the period. Meanwhile, Dabble Extracts demonstrated a significant upward trajectory, climbing from 19th in July to secure the 4th spot by August and maintaining it through October. This rise in rank for Dabble Extracts suggests a growing consumer preference that could pose a challenge for Spectra if the trend continues. On the other hand, 710 Labs experienced a slight decline from 5th to 6th place by October, indicating potential opportunities for Spectra to capture market share. As Spectra navigates these competitive dynamics, understanding these shifts is crucial for strategic positioning and maintaining its market presence.
Notable Products
In October 2024, Plant Power 6 - Glueball Wax (1g) maintained its position as the top-performing product for Spectra, with sales reaching 1082 units. Plant Power 6 - San Fermodo Wax (1g) moved up to the second position, showing a notable increase from its third-place rank in September. Plant Power 6 Lilac Diesel Wax (1g) entered the top three after not ranking in September, now holding the third spot. Plant Power 6 - Monkey Funk Wax (1g) debuted at fourth place, while Plant Power 6 - Orange Cookie Chem Wax (1g) followed closely in fifth. These shifts indicate a strong performance in the Concentrates category for Spectra, with several new entries in the top five for October.
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.
