Market Insights Snapshot
In the Colorado market, Green Dot Labs has shown significant performance across various categories. In the Concentrates category, the brand maintained a steady top position from July to September 2023, but experienced a slight drop to the 4th rank in October. This could be a point of concern, but it's also worth noting that the brand still remained in the top 5. The Flower category saw consistent performance, with the brand hovering around the 8th and 9th rank, showing a slight dip to the 11th rank in September.
For the Pre-Roll category, Green Dot Labs was not in the top 20 in July, but made a notable recovery, climbing to the 15th rank in August. However, the brand's ranking fluctuated in the following months, ending at the 20th rank in October. This indicates a need for improvement in this category. The Vapor Pens category saw a consistent performance with the brand maintaining a spot within the top 10 from July to September. However, a drop to the 13th rank was observed in October, indicating a potential area of focus for the brand. In terms of sales, there seems to be a downward trend across all categories, which might suggest an overall market challenge or increased competition.
In the Vapor Pens category in Colorado, Green Dot Labs has seen a slight downward trend in rank from July to October 2023, moving from 9th to 13th place. This indicates a potential decrease in market share compared to competitors. Notably, EvoLab has shown a significant improvement, jumping from 19th to 7th place in August, although it slipped slightly to 11th place by October. AiroPro (formerly IndigoPro) and Haze (CO) have maintained relatively stable positions, with minor fluctuations within the top 20. Interestingly, PAX has shown a slight improvement, moving from 14th to 12th place. These shifts in ranking suggest a highly competitive market, with Green Dot Labs needing to strategize effectively to regain its higher position.
In October 2023, the top-performing product from Green Dot Labs was the 'Black Label - Hybrid Live Resin Cartridge (0.5g)' in the Vapor Pens category, maintaining its position from the previous month with sales reaching 1,617 units. The second highest-selling product was the 'Black Label - Blu Froot Pre-Roll (1g)' from the Pre-Roll category with 1,013 units sold. The 'Head Huncho Silver Label Live Resin Cartridge (1g)', also in the Vapor Pens category, jumped from the 5th position in August to the 3rd in October, selling 998 units. The 'Cherry Lime Soda (7g)' in the Flower category entered the top 5 list for the first time in October, ranking 4th with 957 units sold. Lastly, the 'Purple Froot (7g)' from the Flower category dropped from the 5th position in September to the last in October, selling 952 units.