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Jun-2024
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Overview
Market Insights Snapshot
Dabs Labs has shown a varied performance across different categories and states. In Colorado, the brand has experienced a notable decline in the Concentrates category, where it fell out of the top 30 rankings by June 2024, indicating a potential struggle in maintaining its market position within this segment. On the other hand, Dabs Labs has maintained a more stable presence in the Vapor Pens category. Despite a gradual decline in their ranking from 19th in March 2024 to 23rd in June 2024, the brand has managed to stay within the top 30, suggesting a stronger foothold in this category.
The sales data reveals a downward trend in revenue for Dabs Labs in Colorado across both categories. For Vapor Pens, the sales figures have decreased consistently from March to June 2024, reflecting a potential challenge in sustaining consumer interest or facing increased competition. The absence of Dabs Labs from the top 30 in the Concentrates category by June 2024 further underscores the difficulties the brand might be encountering in this segment. These movements highlight the importance for Dabs Labs to reassess their strategies in these categories to regain and strengthen their market presence.
Competitive Landscape
In the competitive landscape of Vapor Pens in Colorado, Dabs Labs has experienced notable fluctuations in rank and sales over the past few months. Starting at rank 19 in March 2024, Dabs Labs dropped to rank 21 in April and May, and further to 23 in June. This downward trend in ranking correlates with a significant decline in sales, from $570,491 in March to $372,786 in June. In contrast, The Colorado Cannabis Co. showed a more stable performance, maintaining a rank within the top 20 for three months before dropping out in June, while Harmony Extracts saw a peak in April at rank 16 before falling to 24 in June. Additionally, Seed and Smith (LBW Consulting) and Mile High Xtractions (MHX) also experienced rank volatility but managed to stay competitive. These shifts highlight the dynamic nature of the market, suggesting that Dabs Labs may need to reassess its strategies to regain and sustain a higher market position.
Notable Products
In June 2024, the top-performing product from Dabs Labs was Versa Choice - Sleep Distillate Cartridge (1g) in the Vapor Pens category, maintaining its consistent number one ranking for the fourth consecutive month with sales of 3572 units. Uplift - Sativa Distillate Cartridge (1g) climbed to the second position, improving from its third-place rank in May 2024, with notable sales of 1595 units. Chill - Hybrid Distillate Cartridge (1g) dropped to third place, experiencing a decrease in sales to 1421 units from 2072 units in May 2024. Versa Energize Distillate Cartridge (2g) entered the rankings in June 2024 at fourth place. Versa Choice Energize Strawberry Lemonade Distillate Cartridge (1g) held steady at fifth place for three consecutive months, showing consistent performance.
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