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Jun-2024
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Overview
Market Insights Snapshot
Green Dot Labs has demonstrated a strong performance in the Colorado cannabis market, particularly in the Concentrates category. The brand held the number one spot from March through May 2024 but saw a slight dip to the second position in June 2024. Despite this minor setback, the brand's dominance in the Concentrates category remains noteworthy. In the Flower category, Green Dot Labs experienced some fluctuations, moving from seventh place in March to tenth in April, then rising to fifth in May, and slightly dropping to sixth in June. This indicates a generally positive trend with some variability. Their performance in the Pre-Roll category, however, has been more volatile, with a significant drop from third place in March to sixteenth by June, suggesting challenges in maintaining a strong foothold in this segment.
In the Vapor Pens category, Green Dot Labs started strong with a third-place ranking in March, but saw a decline to sixth in April, a brief recovery to fifth in May, and a more pronounced drop to eleventh in June. This downward trend could be indicative of increasing competition or shifting consumer preferences within Colorado. Overall, while Green Dot Labs has shown resilience and strength in certain categories like Concentrates and Flower, the fluctuations in rankings across Pre-Roll and Vapor Pens categories highlight areas that may require strategic adjustments. Notably, their absence from the top 30 in any category would be a significant concern, but Green Dot Labs has managed to stay within competitive rankings across all reported categories, underscoring their established presence in the market.
Competitive Landscape
In the competitive landscape of the Flower category in Colorado, Green Dot Labs has shown notable fluctuations in rank and sales over the past few months. Green Dot Labs experienced a dip in April 2024, dropping to 10th place from 7th in March, but quickly rebounded to 5th in May before settling at 6th in June. This indicates a resilient market presence despite short-term volatility. Competitors such as Classix have maintained a strong and consistent performance, securing the 4th rank in both May and June, which suggests a stable upward trend. Meanwhile, In The Flow made a significant leap from being outside the top 20 in March to 8th place in June, highlighting a rapid growth trajectory. The Health Center also showed a strong performance, moving from 12th place in April to 5th in June. Lastly, Artsy Cannabis Co has seen a more stable ranking, fluctuating between 7th and 9th place over the months. These dynamics suggest that while Green Dot Labs remains a key player, it faces stiff competition from brands that are either rapidly ascending or maintaining strong positions in the market.
Notable Products
In June 2024, the top-performing product from Green Dot Labs was Black Maple (3.5g) in the Flower category, achieving the highest sales figure of $1968. A5 Wagyu (3.5g) secured the second spot, closely following with significant sales. Lemon Butter Rum (3.5g) ranked third, while Cherry Lime Soda (3.5g) and Black Label - Black Maple (3.5g) took the fourth and fifth positions, respectively. Comparing these rankings to previous months, it is evident that Black Maple (3.5g) has consistently maintained a strong performance. The other products also showed steady sales, indicating a stable market presence for Green Dot Labs' Flower category.
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