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Aug-2024
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Overview
Market Insights Snapshot
Coda Signature has shown a promising performance trend in the Edible category within Colorado. Over the past few months, the brand has consistently improved its ranking, moving from 24th in May 2024 to 18th in August 2024. This upward trajectory indicates a growing acceptance and popularity among consumers in this state. The sales figures support this movement, with a significant increase from $42,659 in May to $112,764 in August. This substantial growth suggests that Coda Signature is effectively capturing market share and becoming a notable player in the Colorado edible cannabis market.
However, it is important to note that Coda Signature's presence in other states and categories might not be as strong. The absence of rankings in the top 30 for other states and categories could be a point of concern, highlighting areas where the brand has yet to establish a significant footprint. For instance, their lack of ranking in any other state or category suggests that while they are making strides in Colorado, there is still considerable room for expansion and improvement in other markets. This divergence in performance across different regions and product categories provides a nuanced view of the brand's overall market position and potential growth opportunities.
Competitive Landscape
In the competitive landscape of the Colorado edible cannabis market, Coda Signature has shown a notable upward trend in rankings over the summer months of 2024. Starting at the 24th position in May, Coda Signature climbed to the 18th spot by August, showcasing a significant improvement. This positive shift is particularly noteworthy when compared to competitors such as Canyon, which maintained a relatively stable rank around the 16th to 18th positions, and Binske, which fluctuated slightly but remained outside the top 20 in July. Meanwhile, Rebel Edibles and Muncheez experienced more volatility, with Rebel Edibles peaking at 14th in July before dropping to 16th in August, and Muncheez falling out of the top 20 in June but recovering to 19th by August. The consistent improvement in Coda Signature's rank suggests a growing consumer preference and potentially effective marketing strategies, positioning it as a rising player in the market.
Notable Products
In August 2024, the top-performing product from Coda Signature was the Coffee & Doughnuts Milk Chocolate Bar 20-Pack (100mg), maintaining its first-place ranking with sales reaching 1887 units. The Toffee & Sea Salt Chocolate Bar 20-Pack (100mg) rose to the second position, with notable sales of 1178 units. The Maple & Pecan Milk Chocolate Bar 20-Pack (100mg) held steady at third place, while the Cream & Crumble White Chocolate Bar 20-Pack (100mg) dropped to fourth. The CBD:THC 1:1 Cream & Crumble White Chocolate Bar 20-Pack (100mg CBD, 100mg THC) reappeared in the fifth position. Compared to previous months, the Coffee & Doughnuts Milk Chocolate Bar consistently led the sales, whereas the Toffee & Sea Salt Chocolate Bar showed significant improvement in its ranking.
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.
