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Jun-2024
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Overview
Market Insights Snapshot
Ript has shown a consistent performance in the Colorado market, particularly in the Beverage and Edible categories. In the Beverage category, Ript maintained a steady rank at 6th place from March to June 2024, reflecting a stable market presence. Their sales figures in this category have demonstrated an upward trend, increasing from $32,464 in March to $45,981 in June. This consistent ranking and growth in sales indicate a solid foothold in the Colorado beverage market, suggesting effective brand loyalty and market penetration.
In the Edible category, Ript's performance has been even more impressive. They held the 4th position from March to May 2024, before climbing to 3rd place in June. This upward movement in rankings is complemented by a significant increase in sales, jumping from $1,230,863 in March to $1,736,597 in June. The consistent top-five ranking and the substantial sales growth highlight Ript's strong competitive edge and popularity among consumers in the Colorado edibles market. However, it's worth noting that Ript did not appear in the top 30 brands in other states or provinces, which could be a potential area for growth or concern depending on their strategic goals.
Competitive Landscape
In the competitive landscape of the Colorado edible cannabis market, Ript has shown a notable upward trajectory in recent months. While Wyld and Wana have consistently held the top two positions, Ript has climbed from fourth to third place between March and June 2024. This rise is particularly significant given the decline of Dialed In Gummies, which dropped from third to fourth place during the same period. Ript's increase in rank is accompanied by a substantial growth in sales, indicating a strong market presence and consumer preference. In contrast, Tastebudz has maintained a steady fifth place, suggesting a more stable but less dynamic market position. These trends highlight Ript's potential to continue gaining market share and possibly challenge the top two brands in the future.
Notable Products
In June 2024, the top-performing product for Ript was Faded Fruit Punch Gummies 10-Pack (100mg), which secured the number one spot with sales of 38,077 units. Blazed Blue Raz Gummies 10-Pack (100mg) followed closely in second place, maintaining its strong performance from previous months. Sour Smashed Watermelon Gummies 10-Pack (100mg) consistently held the third position, reflecting steady demand. The CBN/THC 1:2 Knockout Punch Gummies 10-Pack (50mg CBN, 100mg THC) remained in fourth place, showing consistent popularity. Baked Apple Gummies 10-Pack (100mg) rounded out the top five, maintaining its rank from the previous months. Overall, the rankings for June 2024 showed stability in consumer preferences for these top products.
Top Selling Cannabis Brands
