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Nov-2024
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Overview
Market Insights Snapshot
Summit's performance in the cannabis market shows varied trends across different categories and states. In Colorado, Summit has demonstrated a steady improvement in the Concentrates category, climbing from 64th place in August 2024 to 49th in November 2024. This upward movement suggests a strengthening presence and growing consumer interest in their concentrates. However, in the Vapor Pens category, Summit's ranking fluctuated, indicating some volatility in consumer preferences or competitive pressure within the state. Notably, Summit's Flower category saw a significant leap from 68th in August to 56th in November, suggesting a positive reception in this segment.
In Michigan, Summit's presence in the Concentrates category has been less consistent. The brand was not ranked in the top 30 in October 2024, which could be a concern for maintaining market visibility. However, by November, Summit re-entered the rankings at 98th place, indicating a potential rebound or strategic adjustments to regain market share. This fluctuation highlights the competitive nature of the Michigan market and the challenges Summit faces in establishing a strong foothold. Such dynamics offer insights into regional performance and the varying consumer trends that Summit must navigate across states.
Competitive Landscape
In the competitive landscape of the Flower category in Colorado, Summit has shown a notable upward trend in its rankings from August to November 2024, moving from 68th to 56th position. This improvement in rank is indicative of a positive trajectory in sales performance, with Summit experiencing a significant increase in sales from August to October, peaking in October before a slight decline in November. In contrast, competitors such as Seed and Smith (LBW Consulting) and Rare Dankness have shown more volatility in their rankings and sales, with Rare Dankness dropping out of the top 80 in October before recovering slightly in November. Meanwhile, Meraki Gardens made a remarkable leap in November, moving from 89th to 50th, suggesting a strong comeback. Summit's consistent climb in rankings amidst these fluctuations highlights its growing market presence and potential for further sales growth in the Colorado Flower market.
Notable Products
In November 2024, Summit's top-performing product was Apricot Scone Bulk in the Flower category, reclaiming its position at rank 1 with a notable sales figure of 5500 units. Following closely, Granny Apple Sass Bulk in the Flower category rose to rank 2, showing a significant increase in sales from the previous month. Summit Berry Jellies 10-Pack (200mg) in the Edible category maintained a strong presence, ranking 3rd, with a slight improvement in sales compared to October. Crank Yanker 3.5g made its debut in the rankings at 4th place, indicating a strong market entry. Raspberry Lemonade Drink (10mg THC, 355ml) in the Beverage category returned to the rankings at 5th, despite a dip in sales from its August figures.
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.
