.svg){kind=small}
Apr-2024
Sales
Trend
6-Month
Product Count
SKUs
Overview
Market Insights Snapshot
In Colorado, Olio's performance across different cannabis categories shows a mixed but insightful trend. For concentrates, the brand maintained a stable presence in the top 20, with slight fluctuations from rank 15 in January to 19 in April, indicating a consistent demand but also increased competition. The edible category, however, presents a challenge for Olio, as it hovered near the bottom of the top 30, with April seeing it at rank 29. This could suggest either a highly competitive market or a need for Olio to strengthen its product offerings in edibles. Vapor pens in Colorado show a downward trend from rank 16 in January to 20 in April, despite this category being Olio's strongest in terms of sales, with a notable figure of 542,087 in January 2024. This points to a potential area for Olio to focus on maintaining its market share amidst growing competition.
In New York, Olio's market presence is notably different, especially in the vapor pens category, where it saw significant improvement, moving from rank 31 in January to 16 by April. This remarkable growth trajectory, highlighted by a sales jump to 194,323 in April, suggests a rapidly growing consumer base and effective market penetration strategies by Olio in New York. Conversely, concentrates in New York see Olio only entering the top 30 in April at rank 15, which, while a good start, does not provide enough data to predict future performance. The absence of Olio in the top 30 for the first three months of the year in this category could either indicate a recent launch or earlier challenges in gaining market traction. This initial placement, however, could be seen as a positive sign of Olio's potential growth in New York's concentrates market.
Competitive Landscape
In the competitive landscape of the Vapor Pens category in Colorado, Olio has experienced fluctuations in its ranking over the first four months of 2024, starting at 16th in January, improving to 14th in February, maintaining a middle-tier position at 16th in March, and then slightly dropping to 20th in April. This trajectory indicates a challenging environment, especially when compared to its competitors. For instance, Harmony Extracts showed a notable improvement, moving from not being in the top 20 in January and February to securing the 18th spot by April, surpassing Olio with a significant increase in sales. Similarly, The Colorado Cannabis Co. maintained a steady presence in the rankings, albeit with a slight decline towards the 19th position by April, yet still outperforming Olio in sales. On the other hand, brands like Seed and Smith (LBW Consulting) and Edun, despite their lower rankings earlier in the year, have shown remarkable sales growth, hinting at a competitive momentum that could challenge Olio's position further. This dynamic suggests that Olio needs to strategize effectively to enhance its market share and improve its ranking amidst these competitive shifts.
Notable Products
In April 2024, Olio's top-performing product was the Banjo Live Rosin Disposable (0.5g) within the Vapor Pens category, achieving the highest sales figure of 805 units. Following closely behind in second place was the Blockberry Live Rosin Disposable (0.5g), also in the Vapor Pens category, showcasing a notable shift from its leading position in the previous month. The Mendo Breath Live Rosin Disposable (0.5g) secured the third rank, indicating a slight improvement from its fifth position in March 2024. The Banjo Live Rosin Cartridge (0.5g) maintained a consistent performance, remaining in fourth place. Interestingly, the Papaya Smoothie Live Rosin Disposable (0.5g) made its first appearance in the rankings, landing directly in the fifth spot for April 2024.
Top Selling Cannabis Brands
