Market Insights Snapshot
In the Colorado market, Hummingbird's performance varied across different categories. In the Flower category, Hummingbird demonstrated a consistent improvement in its ranking over the four months from August to November 2023. The brand started off with a rank of 15 in August, which slightly dipped to 17 in September, but then it made a remarkable comeback, moving up to 14 in October and further to 11 in November. This upward trend indicates a positive growth in the brand's popularity in the Flower category within the Colorado market.
On the other hand, Hummingbird's performance in the Pre-Roll category in Colorado was rather fluctuating and didn't make it to the top 20 brands in any of the four months. Starting from a rank of 62 in August, the brand managed to climb up to 42 in October, but then fell back to 50 in November. While this shows some volatility, it's worth noting that despite not being in the top 20, Hummingbird did manage to improve its position from the initial ranking. However, the brand might need to strategize better to boost its standing in the Pre-Roll category.
In the Flower category within Colorado, Hummingbird has been showing a steady improvement in its ranking over the period from August to November 2023. Starting at rank 15 in August, Hummingbird climbed to rank 11 by November. This upward trend indicates a growing market presence for Hummingbird, despite stiff competition from brands like Green Dot Labs, Veritas Fine Cannabis, Bonsai Cultivation, and In The Flow. Notably, Bonsai Cultivation, despite not being in the top 20 in August, made a significant leap to rank 10 by November. Meanwhile, Green Dot Labs and Veritas Fine Cannabis experienced a drop in their rankings, while In The Flow's rank fluctuated over the period. Overall, Hummingbird's consistent upward trajectory in rank, despite the competitive landscape, is a positive sign for the brand.
In November 2023, the top-performing product for Hummingbird was 'Gary Payton (Bulk)', a Flower category product, which had the highest sales of 2548 units. 'Hype Train (Bulk)', also from the Flower category, was the second-highest performer, moving up from third place in October. 'Bridgeburn OG (Bulk)' moved back into the top three after not being ranked in October. The fourth and fifth spots were taken by 'Don Shula (Bulk)' and 'Goat Head (Bulk)', both new entries into the top five. These rankings indicate a strong performance from the Flower category for Hummingbird in November.