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Apr-2024
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Overview
Market Insights Snapshot
In the competitive cannabis market of Colorado, Seed and Smith (LBW Consulting) has shown notable performance across various categories, with a particularly impressive trajectory in the Concentrates and Vapor Pens segments. For Concentrates, their ranking improved from 20th in January 2024 to 11th by April 2024, indicating a strong upward trend and increasing market share. This performance is underscored by a significant sales increase from January's $128,764 to $194,634 in April. Similarly, in the Vapor Pens category, Seed and Smith demonstrated a robust improvement, moving from the 30th position in January to 21st in April, alongside a remarkable surge in sales, culminating at $503,555 in April. These movements suggest a growing consumer preference for Seed and Smith's offerings in these categories within the Colorado market.
However, the brand's performance in the Flower and Pre-Roll categories tells a different story. Despite a slight improvement in the Flower category rankings from 47th in January to 38th in March, the brand slipped to 42nd in April, paired with a decrease in sales from March's peak of $215,915 to $129,116. This fluctuation indicates challenges in maintaining consistent growth and market positioning within this category. More notably, in the Pre-Roll category, Seed and Smith only appeared in the January rankings at 62nd and did not make the top 30 in the following months, reflecting a significant area for potential growth and improvement. The absence from the top rankings in subsequent months highlights the competitive nature of the Colorado cannabis market and underscores the importance of strategic focus and innovation to enhance brand visibility and consumer engagement in less dominant categories.
Competitive Landscape
In the competitive landscape of the Vapor Pens category in Colorado, Seed and Smith (LBW Consulting) has shown a notable upward trajectory in rankings from January to April 2024, moving from not being in the top 20 to securing the 21st position by April. This improvement in rank is significant when compared to its competitors, such as The Colorado Cannabis Co., which saw a slight decline in its ranking, moving from 15th to 19th position in the same period. Similarly, Olio experienced fluctuations, initially improving from 16th to 14th but then dropping to 20th by April. In contrast, Next1 Labs LLC and Edun have also seen changes in their rankings, with Next1 Labs LLC moving from 26th to 23rd and Edun experiencing a significant rise to 11th in February, only to fall back to 22nd by April. Seed and Smith's upward movement in rankings, coupled with a substantial increase in sales, positions it as a brand on the rise, potentially challenging its competitors if the trend continues. This analysis suggests that Seed and Smith (LBW Consulting) is gaining momentum in a competitive market, which could lead to further improvements in rank and sales in the future.
Notable Products
In April 2024, Seed and Smith (LBW Consulting) saw the Peach Crescendo Live Resin Cartridge (1g) from the Vapor Pens category maintain its top position for the third consecutive month, with an impressive sales figure of 2029 units. The Super Boof Live Resin (1g) in the Concentrates category made a notable entry into the rankings, securing the second position with sales reaching 1739 units. Following closely, the Mac N Cheese Live Terp Distillate Cartridge (1g), another product from the Vapor Pens category, ranked third with sales figures also in the thousands. The Mac N Cheese (Bulk) from the Flower category was introduced to the list at the fourth rank. Notably, the Mai Tai Live Resin (1g) in the Concentrates category experienced a slight drop, moving from third place in March to fifth in April, indicating a shift in consumer preferences within the concentrates segment.
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