Market Insights Snapshot
HRVST, a renowned cannabis brand, has shown some interesting fluctuations in its performance across different categories in the Colorado market. In the Concentrates category, HRVST started at rank 13 in August 2023 and saw a slight dip in performance, moving to rank 17 in October 2023. However, the brand managed to regain some ground in November 2023, climbing back up to rank 14. This movement suggests a competitive and dynamic market for Concentrates in Colorado, with HRVST maintaining a consistent presence in the top 20 brands.
On the other hand, HRVST's performance in the Vapor Pens category presents a different picture. The brand did not manage to secure a spot in the top 20 in this category throughout the observed period. Starting at rank 46 in August 2023, HRVST's rank continued to slide, reaching rank 60 by November 2023. While this could be seen as a challenge, it also represents an opportunity for the brand to reassess its strategies in the Vapor Pens category and strive to improve its standing in the Colorado market.
In the Concentrates category within the Colorado market, HRVST has experienced a fluctuating rank over the period from August to November 2023. The brand started at rank 13 in August, dropped to 16 in September, further down to 17 in October, and then rebounded to 14 in November. This indicates a slight decrease in their market position overall. In comparison, Harmony Extracts and Nomad Extracts have shown similar volatility, while Concentrate Supply Co. and West Edison have maintained a more consistent rank, despite some fluctuations. Sales trends for these competitors show a mixed picture, with some brands experiencing higher sales than HRVST, while others are lower. This competitive landscape suggests opportunities for HRVST to improve its market position through strategic initiatives.
In November 2023, the top-performing products for HRVST were predominantly from the Concentrates category. The 'Lilac Diesel Wax (1g)' emerged as the highest seller with a sales figure of 1098 units. Following closely behind was the 'Tangerine Daydream Shatter (1g)' which climbed from the third position in September to the second in November. The 'Blue Vishnu Wax (1g)', despite being the top seller in October, slipped to the third position in November. The 'Pachamama Wax (1g)' and 'Tangcicle Wax (1g)' rounded out the top five, marking their first appearance in the rankings.