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Jun-2024
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Overview
Market Insights Snapshot
In the state of Colorado, Cannavative's performance in the Flower category has seen a notable improvement. After not ranking in the top 30 for March and April 2024, Cannavative entered the ranks at 87th place in June 2024. This upward movement suggests a growing presence and acceptance of their flower products in the Colorado market, despite a decrease in sales from $36,104 in March to $19,273 in June. This trend indicates that while their market penetration is increasing, there may be pricing or distribution strategies that need adjustment to sustain or grow sales figures.
In Nevada, Cannavative has shown a mixed performance across different categories. The brand maintained a strong presence in the Vapor Pens category, consistently ranking in the top 10 from March to June 2024. However, there was a decline in sales from $705,611 in March to $462,497 in June. In the Pre-Roll category, Cannavative's ranking dropped from 8th place in March and April to 13th place in June, indicating a slight loss in market share. On the other hand, their performance in the Concentrates category remained relatively stable, hovering around the 21st to 23rd positions. This stability in Concentrates, combined with their strong presence in Vapor Pens, suggests that Cannavative has a solid foothold in certain product lines within the Nevada market.
Competitive Landscape
In the competitive landscape of vapor pens in Nevada, Cannavative has shown a consistent presence, maintaining its rank at 6th place in March and April 2024 before slightly dropping to 7th place in May and June 2024. This stability is noteworthy, especially when compared to competitors like AiroPro, which also experienced a slight decline from 7th to 8th place over the same period. Cannavative's sales trajectory, however, reflects a downward trend, mirroring the broader market dynamics where brands like TRENDI have shown significant growth, maintaining a strong 5th place rank and even increasing their sales from April to May 2024. Meanwhile, Medizin and High Heads have demonstrated more volatility in their rankings, with High Heads making a notable leap from 15th in March to 6th in June 2024. This competitive environment suggests that while Cannavative remains a strong player, it must innovate and adapt to maintain its market position against rising brands.
Notable Products
In June 2024, the top-performing product from Cannavative was Resin8 - Melon Balls Distillate Cartridge (0.8g), which climbed to the number one spot with sales of 2303 units. Resin8 - Blueberry Distillate Cartridge (0.8g) dropped to second place after maintaining the top rank for the previous three months. Resin8 - Sunset Sherbet Distillate Cartridge (0.8g) made a notable entry into the rankings, securing third place with a significant sales figure. Resin8 - Apple Jack Distillate Cartridge (0.8g) slipped to fourth place despite consistently high sales in earlier months. Resin8 - Tropic Thunder Distillate Cartridge (0.8g) remained steady in fifth place, although its sales figures showed a declining trend.
Top Selling Cannabis Brands
