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Aug-2024
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Overview
Market Insights Snapshot
NectarBee's performance in the Colorado market has shown notable trends across different product categories. In the Concentrates category, NectarBee did not make it into the top 30 brands from May through August 2024, indicating a challenging period for this product line. This absence from the top rankings could be seen as a negative indicator of their market penetration or consumer preference in this category. However, it's worth noting that despite not ranking, the brand still managed to generate some sales, highlighting a potential niche customer base or loyal following.
Conversely, NectarBee's performance in the Topical category in Colorado has been consistently strong. The brand maintained a steady presence within the top 10, fluctuating between the 7th and 9th positions from May to August 2024. This stability suggests a solid foothold and growing consumer demand for their topical products. The sales figures for this category also show an upward trend, with a significant increase from $17,765 in May to $28,867 in August. This positive trajectory indicates a successful strategy and execution in the Topical category, making it a key area of strength for NectarBee in the Colorado market.
Competitive Landscape
In the Colorado Topical category, NectarBee has experienced fluctuations in its rank over the past few months, moving from 7th place in May 2024 to 8th in June, 9th in July, and then back to 7th in August. This indicates a competitive market where NectarBee is maintaining a strong presence but facing stiff competition. Notably, Care Division consistently ranks higher, peaking at 5th place in August, which suggests that they have a more stable and possibly more popular product line in this category. Additionally, Highly Edible and ioVia have shown competitive sales trends, with Highly Edible missing the top 20 in August, indicating a potential opportunity for NectarBee to capitalize on. Despite these challenges, NectarBee's sales have shown a positive trend, increasing from $17,765 in May to $28,867 in August, suggesting that while rank fluctuations occur, their market share and consumer demand are growing. This dynamic landscape underscores the importance of continuous innovation and strategic marketing to maintain and improve NectarBee's position in the Colorado Topical market.
Notable Products
In August 2024, the top-performing product for NectarBee was the CBD/THC 1:1 Heal Line Muscle Balm (100mg CBD, 100mg THC) from the Topical category, maintaining its first-place ranking from July with sales reaching 767 units. Pure Caviar (1g) from the Concentrates category climbed to the second position, experiencing a significant increase to 628 units sold. The CBD/THC 1:5 Heal Line Nerve Salve (50mg CBD, 250mg THC, 1.78oz) remained consistent in third place, showing steady sales growth. Ginger Ale (10mg, 355ml) held its fourth position despite a notable drop in sales. The Caviar Cone - Hybrid Infused Pre-Roll (1g) was not ranked in August, indicating a potential drop in popularity or discontinuation.
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.
