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Sep-2024
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Overview
Market Insights Snapshot
Summit's performance across different categories and states has shown varied results over recent months. In Colorado, Summit's presence in the Concentrates category has been relatively stable, maintaining a ranking around the 62nd position despite a steady decline in sales. The Flower category, however, presents a more challenging picture, with Summit's ranking dropping out of the top 30 since June, indicating a significant decrease in market share. Interestingly, the Vapor Pens category in Colorado shows a positive trend, with Summit improving its ranking from 88th in June to 70th in September, suggesting a potential area of growth or increased consumer interest.
In Michigan, Summit's entry into the Concentrates category in September with a rank of 100 indicates a recent push into this market, though it is not yet in the top 30. This contrasts with their performance in Saskatchewan, where Summit has secured a strong foothold in the Beverage category, improving from the 8th position in August to 7th in September. This upward movement in Saskatchewan highlights a successful strategy in the Beverage segment, potentially offering insights into consumer preferences and market dynamics in this region.
Competitive Landscape
In the competitive landscape of the Flower category in Colorado, Summit has experienced a fluctuating performance in recent months. Starting from a rank of 67 in June 2024, Summit's position dropped to 82 in July and further to 94 in August, before recovering slightly to 82 in September. This volatility in rank is reflected in its sales, which decreased significantly from June to September. In contrast, Sappy Brands maintained a stronger presence, despite a downward trend from rank 16 in June to 66 in September, still outperforming Summit in sales. Meanwhile, The Colorado Cannabis Co. showed a significant drop in rank from 39 in June to being absent from the top 20 by August, indicating a sharp decline in sales. Bud Fox Supply Co and Kush Masters also demonstrated inconsistent rankings, with Bud Fox Supply Co re-entering the top 20 by August. These dynamics suggest a highly competitive market where Summit needs to strategize effectively to regain and sustain a higher rank and increase sales.
Notable Products
In September 2024, Summit's top-performing product was Berry Jellies 10-Pack, maintaining its number one rank from August, with notable sales of 2179 units. Rum Cake emerged as a strong contender, securing the second spot despite not being ranked in previous months, with impressive sales. Tropic Cherry climbed back into the rankings at third place, showing a significant increase in sales from previous months. Raspberry Lemonade Drink experienced a drop in performance, falling from second in August to fourth in September, indicating a decline in popularity. Pint Sized rounded out the top five, improving its rank from August, suggesting a growing interest in this product category.
Top Selling Cannabis Brands
Data for this report comes from real-time sales reporting by participating cannabis retailers via their point-of-sale systems, which are linked up with Headset’s business intelligence software. Headset’s data is very reliable, as it comes digitally direct from our partner retailers. However, the potential does exist for misreporting in the instance of duplicates, incorrectly classified products, inaccurate entry of products into point-of-sale systems, or even simple human error at the point of purchase. Thus, there is a slight margin of error to consider. Brands listed on this page are ranked in the top twenty within the market and product category by total retail sales volume.
