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Aug-2024
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Overview
Market Insights Snapshot
Care Division has shown impressive performance in the Colorado market, particularly in the Tincture & Sublingual category. Over the span of four months from May to August 2024, the brand has consistently maintained a top-three ranking, peaking at the third position for three consecutive months. This stability in the rankings indicates strong consumer loyalty and effective market strategies. The sales figures have also shown a positive trend, with a notable increase from $21,137 in May to over $44,000 in July, before a slight dip in August. This consistent performance highlights Care Division's strong foothold in the Tincture & Sublingual category in Colorado.
In the Topical category, Care Division has also demonstrated significant progress in Colorado. Starting from the sixth position in May, the brand managed to climb to the fifth spot by August. This upward movement is complemented by a substantial increase in sales, particularly in July, where sales nearly doubled compared to June. However, the brand's ranking outside the top five in May and June indicates there was room for improvement, which they successfully capitalized on in subsequent months. This trend of rising rankings and sales in the Topical category suggests that Care Division is gaining traction and expanding its influence in the Colorado market.
Competitive Landscape
In the competitive landscape of the Topical cannabis category in Colorado, Care Division has shown a notable performance trend. From May to August 2024, Care Division maintained a steady rank of 6th place before improving to 5th in August. This upward movement is significant when compared to competitors like My Brother's Flower, which dropped to 6th place in August after consistently holding the 5th spot. Meanwhile, Mary's Medicinals and Nordic Goddess have maintained higher ranks, with Mary's Medicinals consistently in the top 3 and Nordic Goddess holding steady at 4th place. The sales data suggests that Care Division's sales peaked in July but saw a slight decline in August, which could be a strategic point for marketing efforts to stabilize and boost sales further. In contrast, NectarBee has shown a gradual increase in sales, suggesting a growing market presence despite fluctuating ranks. Overall, Care Division's improved ranking and competitive sales performance indicate a positive trajectory in a highly competitive market.
Notable Products
In August 2024, the top-performing product for Care Division was CBD:THC 1:1 The Truth Pain Relief Cream (2000mg CBD, 2000mg THC), maintaining its consistent first-place ranking with sales of 634 units. The CBD:THC 1:1 Stress Free Tincture (100mg CBD, 100mg THC) secured the second position, showing stability from the previous month. Carefree - CBD/THC 1:1 Pain Relief Cream (500mg CBD, 500mg THC) also held the second spot, climbing from fourth place in May and June. The CBD/THC 20:1 Everyday Care Tincture (2000mg CBD, 100mg THC) ranked third, a slight drop from its peak in June. Finally, the CBD/THC 5:1 Dream Sleep Tincture (500mg CBD, 100mg THC) improved to fourth place, marking a steady rise in the rankings over the past few months.
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.
