Market Insights Snapshot
In the state of Colorado, High West Cannabis has shown a steady performance in the Concentrates category. While it was not in the top 20 brands for the months of August and July 2023, the brand showed a slight improvement in its ranking from 85th in May to 84th in June. This indicates a potential upward trajectory for the brand in this category, which could be a positive sign for future performance. The lack of a ranking for the months of July and August suggests that there is room for growth and improvement in this category.
On the other hand, High West Cannabis has demonstrated a commendable performance in the Flower category in Colorado. The brand has consistently ranked within the top 20 brands from May to August 2023, with a gradual improvement in rankings from 18th in May to 14th in August. This steady rise in the rankings, along with an increase in sales from 453,627 in May to 564,043 in August, signifies a positive trend and the brand's strong standing in the Flower category. However, it's worth noting that the competition in this category is quite intense, and maintaining or improving these rankings will require sustained efforts.
In the Flower category in Colorado, High West Cannabis has seen a slight improvement in its rank, moving from 18th place in May 2023 to 14th place in August 2023. This is a positive trend, but competition remains fierce. 710 Labs and In The Flow are consistently ranking higher, with In The Flow experiencing a slight drop in rank but still maintaining a higher position overall. LoCol Love (TWG Limited) showed a significant jump in June, but has since dropped back down, indicating a possible volatility in their market position. Hummingbird, on the other hand, has remained fairly steady in its rank, but is still consistently ranking higher than High West Cannabis. In terms of sales, all these brands are performing at a higher level than High West Cannabis, indicating a need for strategic initiatives to boost market share.
In August 2023, High West Cannabis saw its top product sales dominated by the Flower category. The product 'Stardawg Guava (3.5g)' held the top spot with an impressive sales figure of 9476 units. Following closely was 'Sugar Shack (3.5g)' in second place and 'Sugar Shack (7g)' in third. The fourth and fifth positions were taken by 'Zkittlez Cake Popcorn (28g)' and 'Sugar Shack Popcorn (28g)' respectively. It's noteworthy that these rankings represent a significant shift from previous months, indicating a strong customer preference for these products in August.