Market Insights Snapshot
The cannabis brand Ript has been performing consistently well in the Edible category in Colorado. Maintaining a steady position in the top 5 brands for the past four months, they even managed to climb one rank up from 5th to 4th between August and November 2023. This suggests a strong and growing consumer preference for Ript's edible products in this market. However, it's worth noting that the exact sales figures and the factors contributing to this upward movement are a more complex story.
On the other hand, Ript's performance in the Pre-Roll category in Colorado has been quite volatile. After a significant drop from the 68th position in August to the 90th in October 2023, the brand managed a remarkable recovery to the 53rd position in November. This fluctuation indicates an unstable market position for Ript's Pre-Roll products. The absence of Ript from the top 20 brands in this category for these months also suggests a need for strategic improvement. However, the November recovery hints at a potential for growth and stabilization.
In the edible category within the Colorado market, Ript has shown a positive trend, moving up in rank from 5th in August and September 2023 to 4th in October and November 2023. This upward movement in rank indicates a growth in sales, outperforming some of its competitors. For instance, Tastebudz maintained a steady rank of 4th until it dropped to 5th in October and November, indicating a decrease in sales. Similarly, Good Tide fluctuated between 6th and 7th rank, suggesting inconsistent sales performance. On the other hand, Dialed In Gummies and Wana consistently held the 3rd and 2nd ranks respectively, indicating a strong market presence. It's worth noting that the absence of a rank for any month implies that the brand was not among the top 20 in the specified category and state for that month.
In November 2023, the top-performing product from Ript was the Faded Fruit Punch Gummies 10-Pack (100mg) from the Edible category, maintaining its top position from the previous two months and boasting impressive sales figures of 33,101 units. The second best-selling product was the Blazed Blue Raz Gummies 10-Pack (100mg), also from the Edible category, which climbed one rank from the previous month. The Sour Smashed Watermelon Gummies 10-Pack (100mg) dropped to the third position in November, despite holding the top spot in August. The Baked Apple Gummies 10-Pack (100mg) showed a significant improvement, jumping from fifth to fourth place. Finally, the Sour Pucked Up Peach Gummies 10-Pack (100mg) dropped to the fifth place, showing a steady decline from its second-place position in August.