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Jun-2024
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Overview
Market Insights Snapshot
El Sol Labs has shown notable performance in the Colorado market, particularly in the Concentrates category. The brand has consistently improved its ranking from 18th in March 2024 to 14th in May 2024, before experiencing a slight drop to 16th in June 2024. This fluctuation in ranking is accompanied by a corresponding trend in sales, with a peak in May 2024 at $176,253 before dropping to $121,644 in June 2024. The continuous presence in the top 30 brands in this category highlights a strong foothold in the market, although the recent dip suggests potential areas for improvement or external market influences affecting sales.
In the Vapor Pens category, El Sol Labs has demonstrated significant upward mobility within Colorado. Starting from a lower ranking of 82nd in March 2024, the brand has climbed steadily to 67th by June 2024. This positive trend is mirrored by increasing sales figures, indicating growing consumer acceptance and market penetration. Despite not being in the top 30, the upward trajectory suggests that El Sol Labs is making strides in this competitive category. The brand's ability to improve its position month over month could signal effective marketing strategies or product innovations that resonate well with consumers.
Competitive Landscape
In the competitive landscape of Colorado's concentrates market, El Sol Labs has demonstrated a relatively stable performance, maintaining ranks between 14th and 18th place from March to June 2024. Notably, Concentrate Supply Co. and Sunshine Extracts have shown more volatility, with Concentrate Supply Co. experiencing a significant dip to 23rd place in April before rebounding to 14th in June. Meanwhile, Seed and Smith (LBW Consulting) fluctuated out of the top 20 in May but returned to 15th in June. Rare Dankness has also shown a notable upward trend, climbing from 33rd in March to 18th in June. These shifts suggest that while El Sol Labs has maintained a consistent presence, competitors are experiencing more dramatic changes in rank, which could signal opportunities for El Sol Labs to capitalize on market instability and potentially increase its market share.
Notable Products
In June 2024, Ruby Helix Wax (1g) topped the sales charts for El Sol Labs with a notable figure of 612 units sold. Blue Raspberry Distillate Cartridge (1g) followed closely in second place, while Gold Star Wax (1g) secured the third spot. Watermelon Zkittlez Distillate Cartridge (1g) came in fourth. Smiling Assassin Wax (1g) maintained its fifth position from April 2024. The rankings of Ruby Helix Wax and Blue Raspberry Distillate Cartridge represent new entries for June, indicating a shift in consumer preferences towards these products.
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