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Mar-2024
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Overview
Market Insights Snapshot
In the competitive cannabis market of Colorado, Onyx Label has shown a consistent performance in the Flower category, maintaining its position within the top 10 brands over the past four months. Starting with a rank of 7 in December 2023, the brand experienced a slight improvement in January 2024, rising to the 6th position, before stabilizing back at the 7th rank for February and March 2024. This consistency in ranking, especially in a category as competitive as Flower, suggests a steady demand for Onyx Label's products. The sales figures reflect this demand, with a notable increase in January 2024 to $1,150,909, before experiencing a slight decline in the following months, yet the brand managed to maintain strong sales, indicating a loyal customer base and effective marketing strategies.
Despite the fluctuations in sales figures, Onyx Label's ability to hold its ground in the rankings demonstrates resilience and a solid market presence in Colorado's cannabis scene. The lack of movement into the top 5 could be seen as an area for growth, suggesting that while the brand is performing well, there is still room for improvement and potential to capture a larger market share. The consistent ranking in the top 10, however, is no small feat, indicating that Onyx Label is a significant player in the Flower category. The brand's performance in Colorado is a clear indicator of its appeal and reliability to consumers, making it a brand worth watching for future developments and potential expansions into other states or categories.
Competitive Landscape
In the competitive landscape of the Colorado flower cannabis market, Onyx Label has demonstrated a consistent performance, maintaining its position within the top 10 brands over the recent months. Notably, Onyx Label held the 7th rank from December 2023 through March 2024, showcasing resilience amidst fluctuating sales figures. Competing closely with Cosmos, which saw a significant rise from 9th to 6th place, indicating a stronger upward trend in sales and market presence. On the other hand, Seed & Strain Cannabis Co. has solidified its position in the top 5, outperforming Onyx Label with a more pronounced increase in sales and climbing ranks. Clarity Gardens and Green Dot Labs also remain notable competitors, with Green Dot Labs experiencing a slight decline in rank but maintaining a strong presence in the market. This competitive analysis underscores the importance for Onyx Label to strategize on innovation and marketing to bolster its market share and rank amidst these dynamic shifts.
Notable Products
In March 2024, Glueball (3.5g) from Onyx Label led the sales chart, reclaiming its position at the top with a remarkable sales figure of 6310 units, after briefly falling to second place in February. Freeworld Miracle Popcorn (3.5g) followed closely behind, securing the second rank, showcasing a significant presence in the market despite not being ranked in February. The third position was taken by Fruity Skelato (3.5g), a newcomer to the rankings, which managed to make a strong entry with impressive sales. White 99 (3.5g) and Durban Cookies (3.5g) rounded off the top five, ranked fourth and fifth respectively, indicating a steady demand for these products. These rankings highlight a dynamic shift in consumer preferences within Onyx Label's product line, with Glueball (3.5g) consistently maintaining a strong appeal among customers.
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.
