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Aug-2024
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Overview
Market Insights Snapshot
Ript has shown a strong and consistent performance in the Colorado market, particularly in the Beverage and Edible categories. In the Beverage category, Ript maintained a steady 6th place ranking from May through August 2024, with a notable increase in sales from $32,009 in May to $51,500 in August. This consistent ranking and upward sales trend indicate a stable market presence and growing consumer demand. In the Edible category, Ript improved its ranking from 4th in May to 3rd place in June and has maintained this position through August. The significant sales growth in this category, from $1,013,796 in May to $1,895,482 in August, highlights Ript's strong foothold and expanding market share in Colorado's edible market.
Interestingly, Ript's absence from the top 30 brands in other states or categories suggests a more localized success, with Colorado being a primary market for the brand. This could be seen as a limitation in their market reach or an opportunity for growth in other regions. The brand's strong performance in Colorado's Beverage and Edible categories could serve as a model for expansion strategies in other states. Overall, Ript's concentrated success in Colorado demonstrates the brand's potential for scaling its operations and replicating its achievements in new markets.
Competitive Landscape
In the highly competitive Colorado edible cannabis market, Ript has shown a steady performance, consistently holding the third rank from June to August 2024. This stability is notable given the fierce competition from leading brands like Wyld and Wana, which have maintained the first and second ranks respectively throughout the same period. Despite not surpassing these top competitors, Ript's upward trend in sales, from 1,013,796 in May to 1,895,482 in August, indicates a strong growth trajectory. This growth is particularly impressive when compared to Tastebudz and Good Tide, who have also improved their ranks but with less significant sales increases. Ript's consistent ranking and robust sales growth suggest a solid market presence and potential for further advancement in the Colorado edible category.
Notable Products
In August 2024, the top-performing product from Ript was Faded Fruit Punch Gummies 10-Pack (100mg), maintaining its position at rank 1 with notable sales of 40,475 units. Blazed Blue Raz Gummies 10-Pack (100mg) held steady at rank 2, while Sour Smashed Watermelon Gummies 10-Pack (100mg) climbed back to rank 3 from rank 4 in July. The CBN/THC 1:2 Knockout Punch Gummies 10-Pack (50mg CBN, 100mg THC) remained consistent at rank 4. Baked Apple Gummies 10-Pack (100mg) showed consistent performance, holding rank 5 across all months from May to August.
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.
