Market Insights Snapshot
In the Capsules category, Colorado's SUM Microdose has shown a consistent performance, maintaining a position within the top 5 brands from July to October 2023. However, there was a slight drop in the brand's rank from 3rd in July and September to 4th in August and October. This indicates a strong presence in the market, but also suggests a competitive field. Interestingly, while the brand's rank remained relatively stable, there was a noticeable downward trend in sales over the same period, suggesting a potential area of concern.
On the other hand, SUM Microdose's performance in the Edible category and Tincture & Sublingual category in Colorado presented a different story. In the Edibles category, the brand moved up the ranks from 68th in July to 59th in October, indicating an increasing popularity among consumers. However, it's worth noting that despite this upward trend in ranking, the brand did not break into the top 20. In the Tincture & Sublingual category, the brand's rank fluctuated slightly but remained within the top 20, indicating a steady demand. However, there was a significant drop in sales in September and October, signaling a potential decrease in market share.
In the Colorado Capsules category, SUM Microdose has been consistently ranking in the top 4 brands over the period from July to October 2023, although it has seen a slight decrease in rank from 3rd to 4th place between July and August, and again between September and October. This indicates a potential shift in market dynamics, as it has been overtaken by brands like Stratos and Craft / Craft 710. Notably, Craft / Craft 710 has consistently held the 2nd rank, demonstrating a strong market position. Meanwhile, The Colorado Cannabis Co. has maintained a steady 5th rank. In terms of sales, SUM Microdose has shown a downward trend over the observed period, which could be a cause for concern. However, it's worth noting that all brands, except for Craft / Craft 710, have experienced a similar trend, suggesting a broader market slowdown rather than a brand-specific issue.
In October 2023, SUM Microdose's top-performing product was the CBD:THC 30:1 Sublingual Relief Mint Tablets 40-Pack with sales of 525 units, maintaining its top position from previous months. The CBD/THC 5:2 Calm Fast Acting Sublingual Tablets 40-Pack climbed from the third rank in the previous months to second. The CBD/THC 1:1 Focus Microdose Tablets 30-Pack, which was not ranked in the previous two months, emerged as the third best-selling product. The CBD:THC 1:1 Focus Fast Acting Sublingual Tablet Mints 40-Pack retained its fourth position, while the CBD/THC 2:5:1 Calm Mints 40-Pack made its debut in the top five. Overall, the Capsules category dominated the rankings, with the Edibles category making a single appearance.