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Aug-2024
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Overview
Market Insights Snapshot
Craft / Craft 710 has shown impressive performance in the Colorado market, particularly in the Capsules and Vapor Pens categories. In Capsules, the brand has maintained a strong presence, holding the #2 rank in May and June 2024, and rising to the top position in July and August 2024. This upward trajectory is accompanied by a notable increase in sales, peaking at 81,946 units in August. Vapor Pens have also been a standout category, with the brand climbing from the 9th position in May to the 5th in August, reflecting a consistent growth in sales volume. However, their performance in the Pre-Roll category has been less remarkable, as they did not rank in the top 30 after May 2024, indicating potential areas for improvement.
In the Concentrates category, Craft / Craft 710 has seen a gradual improvement in Colorado, moving from the 42nd position in May to just outside the top 30 by August 2024. This incremental progress suggests a positive trend, although the brand still has significant ground to cover to become a leading player in this segment. The absence of top 30 rankings in the Pre-Roll category post-May could be seen as a setback, highlighting the need for strategic adjustments to enhance their market share in this area. Overall, Craft / Craft 710's performance across categories in Colorado showcases both strong points and opportunities for growth, making it a brand to watch in the coming months.
Competitive Landscape
In the competitive landscape of vapor pens in Colorado, Craft / Craft 710 has demonstrated a notable upward trajectory in rank and sales over the past few months. Starting from 9th place in May 2024, Craft / Craft 710 climbed to 5th place by August 2024, showcasing a consistent improvement. This rise is significant when compared to competitors like The Clear, which started at 11th place in May and improved to 6th place by August, and Packwoods, which fluctuated between 5th and 7th place during the same period. Despite these competitors' efforts, Craft / Craft 710's sales growth, peaking at over 1.3 million in August, indicates a strong market presence and consumer preference. However, brands like Eureka and Batch Signature Extracts continue to dominate the top ranks, with Batch Signature Extracts maintaining a steady 3rd place and Eureka holding 4th place in August. This competitive analysis highlights Craft / Craft 710's impressive growth in a highly competitive market, suggesting a positive trend for future performance.
Notable Products
In August 2024, the top-performing product from Craft / Craft 710 was Sativa Dablets - Energy Tablets 10-Pack (100mg), maintaining its number one rank since May 2024 with a notable sales figure of 7629. Dablets - Sleep Tablets 10-Pack (100mg) also held its consistent second-place ranking, achieving 5873 in sales. Twist - Blueberry Swirl Distillate Cartridge (1g) remained steady in third place since its entry in July 2024. Blueberry Bubble Oil Distillate Cartridge (1g) climbed back into the rankings at fourth place, with Tropsicle Oil Twists Cartridge (1g) debuting at fifth place. The rankings indicate a strong preference for capsules and vapor pens, with consistent sales growth observed for the top products.
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.
