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Jun-2024
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Overview
Market Insights Snapshot
Haze (CO) has shown impressive performance in the Vapor Pens category within the state of Colorado. Over the past few months, the brand has consistently improved its ranking, moving from 13th in March 2024 to 10th in June 2024. This upward trend suggests a growing consumer preference for Haze (CO) products in this category. The increase in sales from $741,905 in March to $804,640 in June further supports this positive momentum. However, it’s worth noting that Haze (CO) did not make it into the top 30 brands in some other states and categories, which could indicate potential areas for improvement or expansion.
In addition to their success with Vapor Pens in Colorado, Haze (CO) should consider leveraging their growing brand recognition to explore opportunities in other categories and states where they currently lack a top 30 presence. This strategic expansion could help mitigate risks associated with relying too heavily on a single market or product category. The brand’s consistent climb in rankings within Colorado's Vapor Pens category is a strong indicator of their potential to replicate this success in other regions and categories, provided they adapt their strategies accordingly.
Competitive Landscape
In the competitive landscape of Vapor Pens in Colorado, Haze (CO) has shown a steady improvement in its market position over recent months. Starting from a rank of 13 in March 2024, Haze (CO) climbed to rank 10 by June 2024. This upward trend is notable when compared to competitors such as The Clear, which also improved its rank from 15 to 9 during the same period, and Spectra, which fluctuated but ultimately maintained a strong position, moving from rank 8 to 8 again in June. However, Green Dot Labs experienced a decline, dropping from rank 3 in March to 11 in June, which may present an opportunity for Haze (CO) to capture more market share. Additionally, PAX showed inconsistency, ranking 16 in March and improving to 12 by June, but still trailing behind Haze (CO). These shifts in rankings suggest that Haze (CO) is gaining traction in the market, potentially leading to increased sales and a stronger competitive position in the coming months.
Notable Products
In June 2024, the top-performing product from Haze (CO) was the Hazy Blueberry Kush Distillate Cartridge (1g) in the Vapor Pens category, maintaining its first-place ranking from March 2024 and climbing back to the top after being ranked second in May. The Maui Wowie Distillate Cartridge (1g) secured the second position, down from its peak in May but consistently within the top five in previous months. Pineapple Whip Distillate Cartridge (1g) ranked third, showing a steady performance since its absence in April and May. The Juice Box - Strawberry Smash Live Resin Cartridge (2g) and Juice Box - Watermelon Crush Live Resin Cartridge (2g) followed in fourth and fifth places, respectively, both experiencing a drop from their higher rankings in April. Notably, the Hazy Blueberry Kush Distillate Cartridge (1g) achieved raw sales of 1508 units in June 2024.
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