Spherex

Data Snapshot: May 04, 2024
Spherex Cannabis Brand Logo
$1M+

Apr-2024

Sales

Strong Growth

Trend

6-Month

66

Product Count

SKUs

Spherex

Overview

Spherex is a distinguished U.S.-based cannabis brand recognized for its commitment to science-driven cannabis engineering and premium-quality products, offering an extensive range of strains for diverse preferences. Benefiting from advanced techniques such as nano-encapsulation technology, Spherex aims to consistently deliver pure, unadulterated cannabis that optimizes the natural power of the plant for an enhanced user experience. Moreover, their ambitious growth strategy is evident from their expansion into international markets like Canada.
Markets

Spherex Locations

Product Trends

Spherex Categories

Spherex Sales

Market Insights Snapshot

Spherex Historical Sales by Category

In Colorado, Spherex has shown a notable performance across different cannabis categories, with significant movements in the rankings that indicate their market presence and consumer preferences. In the Vapor Pens category, Spherex has maintained an impressive first-place ranking from January to April 2024, underscoring their dominance in this segment. This is highlighted by their sales in January 2024, which were a substantial $2,008,195, and they showed a consistent increase in the subsequent months, reaching $2,841,199 in April 2024. This consistent top position indicates strong brand loyalty and effectiveness in their product offerings within the vapor pens category. However, their performance in the Concentrates category tells a different story, with rankings fluctuating outside the top 30 in January, then improving slightly but still remaining outside the top 25 from February to April 2024. This variance in rankings between categories suggests a stronger brand resonance in the vapor pens market within Colorado, while indicating potential areas for growth in concentrates.

While Spherex's performance in the Vapor Pens category in Colorado is commendable, their journey in the Concentrates market segment reveals the challenges and competitive nature of the cannabis industry. The improvement in rankings from 36th in January to 29th in April 2024 in the concentrates category, although positive, indicates a struggle to capture a leading position in this market segment. The sales figures, starting from $65,858 in January and experiencing a steady increase to $88,064 in April 2024, reflect a growing consumer interest or strategic adjustments by Spherex in this category. This growth trajectory, albeit slower compared to their vapor pens success, showcases Spherex's potential to expand and solidify their market share across different cannabis product categories. The contrast in performance between these two categories within the same state highlights the multifaceted nature of the cannabis market and the importance of brand positioning and product quality in achieving market leadership.

Apr-2024 Rank
Concentrates
Vapor Pens
29
1
Spherex

Competitive Landscape

In the competitive landscape of the Vapor Pens category in Colorado, Spherex has maintained its leading position from January to April 2024, showcasing consistent growth in sales and solidifying its dominance. Notably, its closest competitor, Bonanza Cannabis Company, held the second rank throughout the same period but saw a gap in sales that widened over time, despite an increase in their own sales figures. Another notable competitor, Batch Signature Extracts, fluctuated in rank, dropping to 7th in March before climbing to 3rd in April, indicating a volatile market position but showing significant sales growth in April. This dynamic suggests that while Spherex leads, the competition is intensifying, with competitors like Batch Signature Extracts making notable strides in improving their market share. The sales trends and rank changes underline the competitive pressure but also highlight Spherex's ability to maintain its lead amidst growing competition.

Spherex market ranking for CO Vapor Pens

Spherex

Notable Products

In April 2024, Spherex's top-performing product was the X - Blueberry Cake Distillate Cartridge (1g) from the Vapor Pens category, securing the number one rank with impressive sales of 20,664 units. Following closely, the X- Papaya Dream Distillate Cartridge (1g) also in the Vapor Pens category, took the second position, showcasing a notable rise from its previous fourth rank in March. The third spot was claimed by the X- NYC Diesel Distillate Cartridge (1g), which experienced a slight drop from the top position in March to third in April, indicating a shift in consumer preferences. The X - Cherry Kush Distillate Cartridge (1g) made a significant jump to the fourth rank after being fifth in March, demonstrating its growing popularity. Lastly, the X - Tangie Haze Distillate Cartridge (1g) entered the rankings at the fifth position, marking its debut in the competitive landscape of Spherex's product lineup for April.

Product Rank
Category
Jan-2024
Feb-2024
Mar-2024
Apr-2024
X - Blueberry Cake Distillate Cartridge (1g)
Vapor Pens
5
3
2
1
X- Papaya Dream Distillate Cartridge (1g)
Vapor Pens
>5
1
4
2
X- NYC Diesel Distillate Cartridge (1g)
Vapor Pens
>5
2
1
3
X - Cherry Kush Distillate Cartridge (1g)
Vapor Pens
>5
>5
5
4
X - Tangie Haze Distillate Cartridge (1g)
Vapor Pens
>5
>5
>5
5
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