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Nov-2024
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Overview
Market Insights Snapshot
The performance of LIT in the Colorado market shows a noteworthy upward trend in the Flower category. Starting from the 22nd position in August 2024, LIT improved its rank to 14th by November. This positive movement is indicative of a strategic approach that has resonated well with consumers, as evidenced by a consistent increase in sales from August to November, except for a slight dip in October. The ability to climb the rankings in a competitive market like Colorado suggests effective brand positioning and market penetration strategies.
In contrast, LIT's performance in Massachusetts and Nevada presents a more challenging scenario. In Massachusetts, LIT failed to maintain a top 30 position in November, dropping from 48th in August to 56th by November, which highlights potential issues in brand appeal or market strategy. Meanwhile, in Nevada, LIT did not rank in the top 30 in August but managed to enter the ranks by September, reaching the 67th position by November. This gradual improvement in Nevada could signal an emerging opportunity for LIT, provided they can sustain and build on this momentum. The sales growth in Nevada, despite starting from a lower base, is an encouraging sign for future prospects in this market.
Competitive Landscape
In the competitive landscape of the Flower category in Colorado, LIT has shown notable fluctuations in its ranking over the past few months. Starting from a rank of 22 in August 2024, LIT improved its position to 15 in September, dipped slightly to 18 in October, and then climbed back up to 14 in November. This dynamic movement indicates a competitive struggle but also resilience in maintaining a strong market presence. Compared to brands like 710 Labs, which consistently declined from rank 10 to 15, and Hummingbird, which showed a steady rise from 29 to 16, LIT's performance suggests a competitive edge in reclaiming higher ranks despite market volatility. Meanwhile, In The Flow and TREES have also demonstrated competitive positioning, with TREES peaking at rank 10 in October before slipping to 13 in November. These insights highlight LIT's ability to navigate a competitive market and suggest potential areas for strategic focus to further enhance its market share and sales performance.
Notable Products
In November 2024, Sherbert Sundae (3.5g) emerged as the top-performing product for LIT, climbing from the second position in October to first place with notable sales of 3460 units. London Pound Cake (3.5g) slipped to second place after leading in September and October, reflecting a decrease in its sales momentum. Double Myntz (3.5g) maintained its third-place ranking from the previous month, indicating consistent performance. The Super Lit Pre-Roll 2-Pack (1g) improved its position, rising to fourth place from fifth in October, showcasing growing popularity in the pre-roll category. Meanwhile, Golden Goat (3.5g) re-entered the top five, holding the fifth spot, marking a return to the rankings after being absent in October.
Top Selling Cannabis Brands
Data for this report comes from real-time sales reporting by participating cannabis retailers via their point-of-sale systems, which are linked up with Headset’s business intelligence software. Headset’s data is very reliable, as it comes digitally direct from our partner retailers. However, the potential does exist for misreporting in the instance of duplicates, incorrectly classified products, inaccurate entry of products into point-of-sale systems, or even simple human error at the point of purchase. Thus, there is a slight margin of error to consider. Brands listed on this page are ranked in the top twenty within the market and product category by total retail sales volume.
