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Overview
Market Insights Snapshot
In the Colorado market, CBDayz's performance has seen some interesting fluctuations across different categories. In the Tincture & Sublingual category, the brand did not rank in the top 20 for the months of June and July 2023, but managed to claw back to the 21st position in August. This is a slight dip from their May 2023 ranking, where they were at 18th place. It's worth noting that despite the inconsistent rankings, the brand's sales in this category saw a significant increase from May to August 2023, indicating a positive trend in consumer demand.
On the other hand, CBDayz's performance in the Topical category has been more steady. The brand consistently ranked in the top 20 from May to August 2023, with a peak position of 17th in July. However, there was a drop in rank to 19th in August, which could be a point of concern. The sales in this category also experienced a noteworthy spike in July, but subsequently dropped in August. This could suggest a potential shift in consumer preferences or increased competition in the Topical category within the Colorado market. It's a space to watch for those interested in the dynamics of the cannabis industry.
Competitive Landscape
In the topical category within Colorado, CBDayz's performance has been fluctuating over the past few months. In August 2023, CBDayz ranked 19th, a slight drop from its July rank of 17th, but a significant improvement from its June rank where it didn't make it to the top 20. This indicates a recovery in sales from a low point in June. Among its competitors, The Colorado Cannabis Co. and Conscious Medz have shown a consistent presence in the top 20, with the former showing a slight improvement in rank and the latter maintaining a steady position. Highly Edible has consistently ranked higher than CBDayz, but it experienced a slight drop in rank from July to August. Quiq, on the other hand, has consistently ranked outside the top 20, indicating lower sales compared to CBDayz and the other mentioned brands.
Notable Products
In August 2023, the top-performing product from CBDayz was the CBD Muscle Gel (500mg CBD) from the Topical category, which rose from the 3rd rank in July 2023 to lead the sales with 13 units sold. The CBD Energy Tincture (2000mg CBD) from the Tincture & Sublingual category held the 2nd rank, maintaining its position from May 2023, while its sales doubled from 2 units to 4 units. The CBD Lipslide Balm (150mg CBD), also in the Topical category, shared the 2nd rank, although it didn't change its position from the previous month. The CBD Muscle Gel (1000mg CBD) dropped from 1st rank in July to the 2nd rank in August, despite its sales increasing from 23 units to 4 units. Interestingly, the CBD Muscle Gel (2000mg CBD) didn't appear in the top ranks for August, even though it was ranked 3rd in July.
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