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Aug-2024
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Overview
Market Insights Snapshot
CG Labs has shown varied performance across different product categories in Colorado. In the Concentrates category, the brand experienced fluctuations but managed to improve its ranking from 54th in May to 45th in August, despite a dip in sales in July. The Flower category saw a more consistent upward trend, with CG Labs climbing from 54th in May to 36th in August, accompanied by a steady increase in sales, peaking at $169,199 in August. However, the brand's performance in the Vapor Pens category was less stable, with rankings oscillating between 55th and 61st, and sales showing a downward trend in August. The Pre-Roll category also presented challenges, with CG Labs failing to make the top 30 in August after peaking at 68th in July, indicating potential areas for improvement.
Analyzing CG Labs' performance across these categories highlights both strengths and weaknesses. The Flower category stands out as a significant growth area, suggesting that the brand's strategies in this segment are paying off. Conversely, the Vapor Pens and Pre-Roll categories reveal inconsistencies, with rankings and sales not showing the same positive momentum. The absence of a top 30 ranking in the Pre-Roll category for August is particularly notable and could signal a need for strategic adjustments. Overall, while CG Labs has made impressive strides in certain areas, there is clearly room for further growth and stabilization in others.
Competitive Landscape
In the competitive landscape of the Flower category in Colorado, CG Labs has shown a notable upward trend in rankings and sales from May to August 2024. Starting at rank 54 in May, CG Labs improved its position to rank 36 by August, indicating a consistent rise in market presence. This positive trajectory is significant when compared to competitors like Northwest Cannabis Solutions, which only appeared in the top 20 in August at rank 46, and Nuhi, which fluctuated but did not show a clear upward trend. Seed and Smith (LBW Consulting) also demonstrated strong performance, moving from rank 53 in May to 35 in August, but CG Labs' consistent climb suggests a more stable growth pattern. Sunshine Extracts maintained a strong position throughout, but its drop from rank 23 in July to 34 in August contrasts with CG Labs' steady rise. These insights underscore CG Labs' growing competitiveness and potential for continued market share expansion in the Colorado Flower category.
Notable Products
In August 2024, the top-performing product for CG Labs was NY Mayhem Distillate Cartridge (1g) in the Vapor Pens category, with notable sales of 1295 units. Following closely, Elon Musk Distillate Cartridge (1g) ranked second in the same category. Ice Cream Man Distillate Cartridge (1g) and Jupiter OG Distillate Cartridge (1g) both held the third position in July but dropped to third and fourth positions respectively in August. The Flower category saw #Sprinklez (1g) holding the fourth position. Notably, the rankings for these products have shown some shifts, particularly with Ice Cream Man and Jupiter OG swapping places in the top three from the previous month.
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.
