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Dec-2024
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Overview
Market Insights Snapshot
In the state of Colorado, Nove Luxury Chocolate has shown varied performance across different categories. In the Edible category, the brand experienced fluctuations in its rankings over the last few months of 2024. Starting at rank 23 in September, Nove improved to 17 in October but saw a decline to 22 and then 28 by December. This suggests a competitive landscape in the Edible market, where maintaining a stable position can be challenging. On the other hand, in the Topical category, Nove Luxury Chocolate demonstrated more consistency, maintaining a top 10 position in September, October, and December, though it did not rank in the top 30 in November. This absence in November could indicate either a temporary supply issue or increased competition during that month.
Analyzing sales trends, Nove Luxury Chocolate's performance in the Edible category in Colorado showed a spike in October, which might correlate with seasonal demand or promotional activities. However, the subsequent decline in sales and rankings suggests challenges in sustaining this momentum. In contrast, the Topical category sales saw a recovery in December after a dip in November, aligning with the brand re-entering the top 10 rankings. This indicates a potential resilience or strategic adjustment that allowed Nove to regain its standing. Such insights highlight the dynamic nature of the cannabis market in Colorado, where brands must continuously adapt to consumer preferences and competitive pressures.
Competitive Landscape
In the competitive landscape of the edible cannabis market in Colorado, Nove Luxury Chocolate has experienced notable fluctuations in its rank and sales performance from September to December 2024. Starting at a rank of 23 in September, Nove Luxury Chocolate climbed to 17 in October, indicating a significant surge in consumer interest and sales, before dropping to 22 in November and further to 28 in December. This pattern suggests a volatile market presence, potentially influenced by seasonal trends or competitive pressures. During this period, competitors like Devour maintained a relatively stable rank, peaking at 25 in October before dropping to 30 in December, while Binske and Dutch Girl showed minor fluctuations, indicating a consistent competitive pressure. Notably, Olio improved its rank from 30 in September to 26 in December, reflecting a positive sales trajectory that could pose a challenge to Nove Luxury Chocolate's market share. These dynamics highlight the importance for Nove Luxury Chocolate to strategize effectively to maintain and enhance its position in the Colorado edible market.
Notable Products
In December 2024, the Sea Salt Caramel Milk Chocolate (100mg) maintained its position as the top-selling product for Nove Luxury Chocolate, despite a notable decrease in sales to 730 units. The Honey Peanut Butter Milk Chocolate Bar (100mg) consistently held the second rank from October through December, showing steady demand. The Raspberry Bramble Dark Chocolate 10-Pack (100mg) dropped to fourth place, continuing its decline from third in November. Glacier Mint Milk Chocolate (100mg) also experienced a drop in rank, from third in October to fifth in December. Notably, the CBD/THC 1:1 Rose Bath Salts (100mg CBD, 100mg THC) emerged in the rankings for December, debuting at third place, indicating a growing interest in topical products.
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.
