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Nov-2024
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Overview
Market Insights Snapshot
In the state of Colorado, Tastebudz has shown a consistent performance in the Edible category, maintaining a steady rank of 5th place from August to November 2024. This stability indicates a strong foothold in the Colorado edibles market, despite fluctuations in monthly sales figures. However, in the Vapor Pens category, Tastebudz has experienced a decline in its ranking, dropping from 18th in August to 29th by November. This downward trend suggests a potential challenge in maintaining competitiveness in this category, which could be attributed to various factors such as market saturation or shifting consumer preferences.
Meanwhile, in Illinois, Tastebudz's performance in the Edible category has been more volatile. The brand's ranking fluctuated, starting at 22nd in August, improving slightly to 20th in September, but then dropping to 26th in October before recovering to 23rd in November. Such movements could reflect dynamic market conditions or competitive pressures within the Illinois edibles market. Notably, Tastebudz did not appear in the top 30 for any other category in Illinois, suggesting a focused presence in the edibles sector but also highlighting potential areas for growth or diversification.
Competitive Landscape
In the competitive landscape of the Colorado edible market, Tastebudz has consistently maintained its position at rank 5 from August to November 2024. Despite stable rankings, Tastebudz faces stiff competition from brands like Dialed In Gummies and Ript, which have held higher ranks at 4 and 3 respectively during the same period. Notably, Ript has shown a positive sales trajectory, increasing its sales each month, which could pose a potential threat to Tastebudz if this trend continues. Meanwhile, Joyibles and Good Tide have remained steady at ranks 7 and 6, respectively, indicating a less immediate threat. For Tastebudz, maintaining its rank amidst these dynamics suggests a stable customer base, but the brand may need to innovate or enhance its offerings to climb higher in the rankings and boost sales, especially as competitors like Ript continue to gain momentum.
Notable Products
In November 2024, the top-performing product from Tastebudz was Nightly Rituals - CBD/CBN/THC 1:1:1 Blueberry Lavender 20-Pack (100mg CBD,100mg CBN,100mg THC) in the Edible category, maintaining its first-place rank for four consecutive months with sales reaching 10,642 units. The CBD:THC 50:1 Hybrid Raspberry Lemonade Gummies 20-Pack (1000mg CBD, 20mg THC) held the second position, a consistent improvement from its fourth-place rank in September. Strawberry Lemon Fade Gummies 10-Pack (100mg) remained steady in third place since September, showing stable sales performance. Indica Blue Raspberry Live Rosin Gummies 10-Pack (100mg) secured the fourth position, climbing up from fifth in September. Lastly, the CBD/THC 2:1 Sour Water mellow Gummies 10-Pack (200mg CBD, 100mg THC) experienced a decline in rank, moving from second place in September to fifth in November.
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.
