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Jun-2024
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Overview
Market Insights Snapshot
Hummingbird has shown notable performance in the Colorado market, particularly in the Flower category. Over a span of four months, the brand climbed from being ranked 41st in March 2024 to 22nd by June 2024. This upward trajectory is accompanied by a steady increase in sales, indicating a growing consumer preference for Hummingbird's Flower products. The brand's ability to break into the top 30 by May 2024 and further improve its position in June is a significant achievement, especially considering the competitive nature of the cannabis market in Colorado.
In the Pre-Roll category, Hummingbird's performance has been more modest yet promising. The brand did not rank in the top 30 for March and April 2024, but it made its debut at rank 75 in May and improved to rank 58 in June. This movement suggests that Hummingbird is gaining traction in the Pre-Roll segment, albeit at a slower pace compared to its Flower category. The initial absence from the top 30 could be seen as a challenge, but the subsequent improvement indicates a positive trend that could potentially lead to stronger market presence in the coming months.
Competitive Landscape
In the competitive landscape of the Colorado flower category, Hummingbird has demonstrated notable improvements in its market position over recent months. Starting from a rank of 41 in March 2024, Hummingbird ascended to rank 22 by June 2024, reflecting a significant climb in its standings. This upward trend contrasts with the performance of other brands in the same category. For instance, Freedom Road showed a more volatile ranking, fluctuating between 23 and 33, while LoCol Love (TWG Limited) experienced a peak at rank 14 in May before dropping to rank 20 in June. Notably, Silver Lake, which held a strong position within the top 6 ranks from March to May, saw a dramatic decline to rank 21 in June. Meanwhile, Vera maintained a relatively stable yet declining trajectory, ending at rank 24 in June. Hummingbird's consistent improvement in rank suggests a robust growth strategy and increasing consumer preference, positioning it favorably against its competitors in the Colorado flower market.
Notable Products
In June 2024, the top-performing product from Hummingbird was Spritzer Pre-Roll (1g) in the Pre-Roll category, achieving the highest rank of 1. Blue Dream (3.5g) in the Flower category followed closely at rank 2, with notable sales of 639 units. Skinny Pineapple (Bulk) and Alpha Blue (3.5g), both in the Flower category, secured ranks 3 and 4 respectively. Papaya Cake (3.5g) entered the rankings for the first time, coming in at rank 5. Compared to previous months, Spritzer Pre-Roll (1g) rose from rank 4 to 1, while Blue Dream (3.5g) re-entered the rankings at a strong position.
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