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Apr-2024
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Overview
Market Insights Snapshot
In the concentrates category, Dabble Extracts shows a notable presence in both British Columbia and Colorado, with a consistent performance in British Columbia, entering the top 30 in March 2024 and maintaining the 16th position through April. This consistency is a positive indicator of the brand's reception in the market, although the lack of a ranking for January and February suggests a recent entrance or a significant improvement in market position during the first quarter of 2024. In Colorado, the brand experienced a slight fluctuation in rankings within the top 20 for concentrates from January to April 2024, peaking at 10th position in January and March but dropping to 16th by April. This drop could indicate increased competition or changes in consumer preferences within the state's market.
However, Dabble Extracts' performance in the vapor pens category within Colorado tells a different story. Starting outside of the top 30 in January 2024 at the 39th position, the brand saw a decline in rankings over the following months, dropping to 58th by March and remaining there in April. This downward trend, coupled with a significant decrease in sales from January's 144,356 to April's 38,914, suggests challenges in capturing and retaining market share in the vapor pens category. Such a trend highlights the competitive nature of the vapor pens market in Colorado and may signal the need for strategic adjustments to improve the brand's standing in this category.
Competitive Landscape
In the competitive landscape of the concentrates category in Colorado, Dabble Extracts has experienced a slight decline in its market position, moving from 10th in January 2024 to 16th by April 2024. This shift indicates a challenging environment for Dabble Extracts, especially when compared to its competitors. For instance, Chronic Creations showed a more stable performance initially but faced a significant drop to 14th place by April, suggesting a volatile market. Meanwhile, Kush Masters maintained a stronger presence in the top 10, though it also saw a decrease to 15th place by April, closely rivaling Dabble Extracts. On the other hand, Nuhi and El Sol Labs have shown upward mobility, with Nuhi jumping from 19th to 17th and El Sol Labs making a significant leap from 31st to 18th place, indicating a potential shift in consumer preferences or strategic market moves. These dynamics suggest that while Dabble Extracts is facing challenges, the overall volatility in the concentrates category presents opportunities for strategic adjustments to regain or improve its market standing.
Notable Products
In April 2024, Dabble Extracts saw XXX Live Rosin (1g) leading the sales with a total of 615 units sold, marking its position as the top-performing product for the month. Following closely was Cherry Slimeade Shatter (1g), which maintained a strong performance, moving from fourth in January to second in April. Lemon Sour Diesel Budder (1g) and AK-47 Budder (1g) were introduced in the rankings for the first time in April, securing the third and fourth spots respectively. Golden Strawberry Wax (1g), which was the top seller in February, dropped to the fifth position by April. These shifts highlight a dynamic market with varying consumer preferences and the introduction of new products impacting the rankings significantly.
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