Nove Luxury Chocolate

Data Snapshot: Apr 04, 2024
Nove Luxury Chocolate Cannabis Brand Logo
$100K+

Mar-2024

Sales

Neutral

Trend

6-Month

16

Product Count

SKUs

Nove Luxury Chocolate

Overview

Nove Luxury Cannabis Chocolate, hailing from Denver, is not your run-of-the-mill edible brand, setting itself apart with its high-end, delectable offerings. Established by Medically Correct, the connoisseurs responsible for the nationally-acclaimed incredibles line, Nove combines a mastery of chocolate and cannabis to curate a range of indulgent, flavourful edibles renowned for their consistency and quality. From their prized chocolates to their newly-introduced Lemon Rose gummies, this luxurious brand aims to offer an unrivaled edible experience that leaves consumers yearning for more.
Markets

Nove Luxury Chocolate Locations

Product Trends

Nove Luxury Chocolate Categories

Nove Luxury Chocolate Sales

Market Insights Snapshot

Nove Luxury Chocolate Historical Sales by Category

In the competitive landscape of Colorado, Nove Luxury Chocolate has shown a mixed performance across its product categories. In the Edibles category, the brand maintained a steady presence in the top 20, starting at rank 18 in December 2023 and January 2024, improving slightly to 16th in February before dipping to 21st in March 2024. This fluctuation, particularly the drop outside the top 20 in March, could indicate a shifting consumer preference or increased competition within the state. Despite this, Nove Luxury Chocolate's sales in the Edibles category saw an increase from December 2023 to February 2024, peaking at 124,308, before experiencing a slight decline in March 2024. This sales trend suggests that while the brand may be facing challenges in maintaining its rank, it has managed to grow its customer base or increase purchase amounts over the period.

On the other hand, Nove Luxury Chocolate's performance in the Topicals category within Colorado has been more stable and positive. The brand consistently ranked in the top 15 from December 2023 through March 2024, showing slight improvements and a stable position at 11th place in February and March. This steadiness in the Topicals category is a good sign, indicating a strong and possibly growing foothold in this specific market segment. The sales figures, starting at 9,528 in December and reaching 8,604 in March, while showing a dip, suggest a relatively stable demand for their Topical products. This performance contrasts with the more volatile nature of their Edibles category, highlighting the importance of a diversified product portfolio in the cannabis industry.

Mar-2024 Rank
Edible
Topical
21
11
Nove Luxury Chocolate

Competitive Landscape

In the competitive landscape of the edible category in Colorado, Nove Luxury Chocolate has shown a fluctuating performance in terms of rank and sales over the recent months. Starting from December 2023, Nove Luxury Chocolate was ranked 18th, maintaining a stable position in January 2024 but improved to 16th in February before dropping to 21st in March 2024. This trajectory indicates a challenge in maintaining a consistent upward momentum in a highly competitive market. Notably, Coda Signature, a direct competitor, experienced a significant drop from 7th in December 2023 to 23rd in March 2024, highlighting the volatile nature of the market. Meanwhile, Koala Edibles showed recovery in March, moving up to 19th from a lower rank in February. Other competitors like Canyon and Binske also experienced fluctuations but remained in the lower ranks, indicating a slightly less direct impact on Nove Luxury Chocolate's market position. The data suggests that while Nove Luxury Chocolate faces stiff competition, there are opportunities for growth and improvement in rank and sales, especially by capitalizing on the shifts in competitor performance.

Nove Luxury Chocolate market ranking for CO Edible

Nove Luxury Chocolate

Notable Products

In Mar-2024, Nove Luxury Chocolate's top product was Sea Salt Caramel Milk Chocolate (100mg) with sales reaching 1793 units, maintaining its number one position consistently over the past four months. The second best-seller, Honey Peanut Butter Milk Chocolate Bar (100mg), also held its rank steadily at second place, indicating stable consumer preferences. Notably, Raspberry Bramble Dark Chocolate 10-Pack (100mg) saw a significant rank improvement, moving up to the third spot from its previous fifth position, underscoring a growing interest in dark chocolate options. Cafe Cappuccino Milk Chocolate (100mg) and Glacier Mint Milk Chocolate (100mg) rounded out the top five, at fourth and fifth positions respectively, with the latter experiencing a slight dip in ranking compared to earlier months. These rankings highlight a consistent demand for Nove Luxury Chocolate's edible products, with particular consumer loyalty towards their top offerings.

Product Rank
Category
Dec-2023
Jan-2024
Feb-2024
Mar-2024
Sea Salt Caramel Milk Chocolate (100mg)
Edible
1
1
1
1
Honey Peanut Butter Milk Chocolate Bar (100mg)
Edible
2
2
2
2
Raspberry Bramble Dark Chocolate 10-Pack (100mg)
Edible
5
5
5
3
Cafe Cappuccino Milk Chocolate (100mg)
Edible
4
4
4
4
Glacier Mint Milk Chocolate (100mg)
Edible
3
3
3
5
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