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Jun-2024
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Overview
Market Insights Snapshot
Nomad Extracts has shown a notable performance in the Concentrates category across several months in Colorado. Starting from March 2024, the brand was ranked 10th, maintaining this position through April 2024. By May 2024, Nomad Extracts climbed to the 5th position, showcasing a significant improvement. However, in June 2024, the brand experienced a slight dip, moving down to the 6th position. This fluctuation in rankings indicates a competitive market but also highlights Nomad Extracts' ability to stay within the top 10, which is a positive indicator of their market presence and consumer demand in Colorado.
Despite the slight ranking drop in June 2024, Nomad Extracts' sales figures reflect interesting trends. For instance, the brand saw a substantial increase in sales from April to May 2024, jumping from $241,579 to $364,036, which underscores a strong growth phase. However, the sales dipped again in June 2024 to $235,602, which aligns with their drop to the 6th position in rankings. This suggests that while Nomad Extracts can achieve high sales volumes, maintaining consistent growth in a competitive market like Colorado remains a challenge. It's important to note that Nomad Extracts stayed within the top 30 brands throughout these months, highlighting their resilience and strategic market positioning.
Competitive Landscape
In the competitive landscape of Colorado's concentrates market, Nomad Extracts has shown a notable upward trend in rankings over the past few months. Starting from a stable 10th position in March and April 2024, Nomad Extracts made a significant leap to 5th place in May, before settling at 6th in June. This upward movement is indicative of strong market performance, especially when compared to competitors like Denver Dab Co, which, despite a peak at 6th place in April, saw a decline to 8th by June. Similarly, 710 Labs experienced a downward trend, dropping from 3rd to 5th place over the same period. On the other hand, Spectra maintained a strong presence, fluctuating within the top 6, and even climbing to 4th in June. The consistent performance and recent surge in rank for Nomad Extracts suggest a growing consumer preference and competitive edge in the concentrates category within Colorado.
Notable Products
In June 2024, the top-performing product for Nomad Extracts was Pearl Cadillac Wax (1g) in the Concentrates category, securing the number one position with sales of 593 units. Blue Dream Wax (1g) followed closely in second place. Super Lemon Haze Wax (1g) maintained its third-place ranking from May 2024, showing consistent performance. Lost Cause Wax (1g) and Sour Diesel Wax (1g) rounded out the top five, ranking fourth and fifth respectively. Notably, Pearl Cadillac Wax (1g) and Blue Dream Wax (1g) made significant debuts in the rankings this month.
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