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Jun-2024
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Overview
Market Insights Snapshot
Spectra has shown a robust performance in the Colorado market, particularly in the Concentrates category. Over the past few months, Spectra has maintained a strong presence, with rankings fluctuating slightly but staying within the top 10. Notably, the brand improved its position from 6th in May 2024 to 4th in June 2024, indicating a positive trend. This upward movement is reflected in their sales, which saw a significant increase from $363,771 in May to $406,280 in June. Such performance highlights Spectra's growing influence and market penetration in the Concentrates category in Colorado.
In the Vapor Pens category, Spectra's performance has been relatively stable, though with some fluctuations. The brand ranked 8th in March 2024, improved to 7th in April, but dropped to 10th in May before climbing back to 8th in June. Despite these changes, Spectra's sales in this category have shown resilience, with a notable increase in June 2024, reaching over $1,010,103. However, the fact that Spectra was not consistently in the top 5 in this category could be seen as a point of concern, suggesting room for improvement. Overall, Spectra's performance across categories in Colorado demonstrates both strengths and areas that could benefit from strategic enhancements.
Competitive Landscape
In the competitive landscape of vapor pens in Colorado, Spectra has experienced notable fluctuations in rank and sales over the past few months. Spectra's rank dropped from 7th in April 2024 to 10th in May 2024, before recovering to 8th in June 2024. This volatility contrasts with the more consistent performance of competitors like O.penVape, which maintained a top 10 position throughout the same period, peaking at 7th in June 2024. Meanwhile, Craft / Craft 710 showed a strong upward trend, climbing from 10th in April 2024 to 6th in both May and June 2024. Despite these shifts, Spectra's sales rebounded significantly in June 2024, reaching over $1 million, indicating a potential recovery and resilience in the market. The brand's ability to bounce back in sales, despite rank fluctuations, suggests a loyal customer base and effective marketing strategies that could be further leveraged to regain and sustain higher rankings.
Notable Products
In June 2024, the top-performing product for Spectra was Alien Bubba x Super Lemon Haze Live Resin Cartridge (1g), which climbed to the number one spot with impressive sales of $1204. Plant Power 9 - Alien Bubba x Super Lemon Haze Live Resin Disposable (0.35g) secured the second rank, showing a significant rise from its previous rankings. Plant Power 9 - Sour Tsunami 510 Live Resin Cartridge (1g) came in third, marking its first appearance in the top rankings. Plant Power 6 Training Day Wax (1g) dropped to fourth place from its consistent first position in the previous months. Lastly, Plant Power 9 - Lilac Diesel 510 Live Resin Cartridge (1g) made it to the fifth spot, maintaining its presence in the top five.
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