Market Insights Snapshot
In the Colorado market, Next1 Labs LLC has shown a consistent performance in the Concentrates category. They maintained a top 5 position from July to October 2023, fluctuating between the 2nd and 4th ranks. However, there has been a slight downward trend in sales over these months, with a notable dip in September and October. This could signify a potential area of concern for the brand.
Next1 Labs LLC also competes in the Pre-Roll and Vapor Pens categories in Colorado. While they consistently held a spot in the top 10 for Pre-Rolls, their rank in Vapor Pens has been outside the top 20, indicating a weaker presence in this category. Interestingly, despite the lower ranking, Vapor Pens saw a significant increase in sales from July to August 2023. This could suggest an emerging opportunity for Next1 Labs LLC to strengthen their foothold in the Vapor Pens market.
In the Colorado concentrates market, Next1 Labs LLC has been performing well, but faces stiff competition from other brands. Green Dot Labs was the top performer in July and August 2023, but saw a significant drop in rank and sales by October. This allowed Amber to take the lead in October, with a consistent upward trend in both rank and sales. Spectra also showed a positive trend, moving up in rank and increasing sales. Bud Fox Supply Co although lower in rank, showed a significant improvement in October. For Next1 Labs LLC, there was a slight decline in rank and sales in September, but the brand managed to recover in October, maintaining a strong position in the top 5.
In October 2023, the top-performing product from Next1 Labs LLC was the Member Berry Pre-Roll (1g), selling 8902 units. It ascended from the 5th position in August to the top spot. The second highest-selling product was the Lava Cake Pre-Roll (1g), making its first appearance in the rankings. The MAC Wax (1g) took the third spot, while the Dosi D'oh Pre-Roll (1g) dropped from second in September to fourth. Rounding out the top five was the Grease Monkey Wax (1g).