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Sep-2024
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Overview
Market Insights Snapshot
CannaPunch has demonstrated consistent performance in the beverage category within Colorado, maintaining a steady rank of 5th place in June and July 2024 before improving to 4th place in both August and September. This upward movement, coupled with a noticeable increase in sales from July to August, suggests a growing consumer preference for their products in this state. However, the September sales figures indicate a slight dip compared to August, which may warrant further analysis to understand consumer behavior or market conditions affecting this change.
In Nevada, CannaPunch's performance in the beverage category is more sporadic. The brand ranked 9th in July and improved to 8th in September, but it did not make the top 30 in June or August. This inconsistency in ranking could highlight challenges in maintaining a stable market presence or competition from other brands. Despite these fluctuations, the sales figures in September show a positive trend, with an increase from July, indicating potential growth opportunities if the brand can stabilize its market position.
Competitive Landscape
In the competitive landscape of the Colorado beverage category, CannaPunch has consistently maintained a strong position, ranking 5th in June and July 2024, and improving to 4th place in August and September 2024. This upward trend in rank is indicative of a positive reception in the market, despite facing stiff competition. Notably, Dixie Elixirs has consistently held the 3rd position, with sales figures significantly higher than CannaPunch, suggesting a strong brand presence and customer loyalty. Meanwhile, Ripple (formerly Stillwater Brands) has dominated the category, maintaining the 2nd spot with sales figures several times higher than those of CannaPunch, underscoring the challenge of competing with established market leaders. Major and Ript have remained in the lower ranks, with Major consistently at 6th and Ript showing an improvement from 7th to 5th place by September 2024. This competitive analysis highlights CannaPunch's resilience and potential for growth in a dynamic market.
Notable Products
In September 2024, Blue Raspberry Sour Punch Drink (100mg) reclaimed the top spot among CannaPunch products with sales of 1,021 units, maintaining its position from July 2024. Pineapple Mango Drink (100mg) slipped to second place after holding the top rank in August 2024. Black Cherry Fusion (100mg) made a significant leap to third place, improving from its consistent fifth-place ranking in previous months. Granddaddy Grape Lite Punch Drink (100mg) maintained its steady fourth position throughout the last four months. Hybrid Watermelon Nectar (100mg) experienced a drop to fifth place, despite holding the third rank from June to August 2024.
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.
