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Dec-2024
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Overview
Market Insights Snapshot
Summit's performance in Colorado across various cannabis categories shows a dynamic landscape. In the Flower category, Summit made notable strides, climbing from 54th position in September 2024 to 37th in November, before slightly slipping to 38th in December. This indicates a strong presence in the market, with sales peaking in November. However, in the Concentrates category, Summit was unable to break into the top 30 by December, suggesting a need for strategic adjustments in this segment. Meanwhile, the Vapor Pens category saw fluctuating rankings, with an improvement in December, indicating a potential recovery or strategic shift in marketing or product offerings.
In Michigan, Summit's presence is less pronounced, particularly in the Concentrates category, where it did not appear in the top 30 rankings after September 2024. This absence suggests a challenging market environment or competitive pressure that Summit needs to address to enhance its visibility and sales performance. The contrast between its performance in Michigan and Colorado highlights the importance of localized strategies and market understanding. The variance in category success across states underscores the complex nature of cannabis market dynamics and the necessity for brands like Summit to continuously adapt to maintain and improve their standings.
Competitive Landscape
In the competitive landscape of the Colorado Flower category, Summit has demonstrated a notable upward trajectory in brand ranking from September to December 2024. Starting at rank 54 in September, Summit improved its position to 38 by December, indicating a consistent rise in market presence. This ascent is particularly significant when compared to competitors such as The Colorado Cannabis Co., which experienced a decline from rank 29 to 34 during the same period. Similarly, Rocky Mountain High saw fluctuating rankings, ultimately landing at 42 in December. Meanwhile, Sunshine Extracts and Shift Cannabis also experienced varied rankings, with Sunshine Extracts maintaining a relatively stable position around the mid-30s and Shift Cannabis dropping from 16 to 39. Summit's rise in rank correlates with an increase in sales, suggesting effective market strategies and growing consumer preference within the Flower category in Colorado.
Notable Products
In December 2024, Bolo Runtz Smalls from Summit emerged as the top-performing product, securing the number one rank with sales totaling 5637 units. Creamsicle followed closely at the second position, showing a significant rise from its fifth-place ranking in November, with sales reaching 5529 units. Apricot Scone, which held the top spot in November, slipped to third place, maintaining strong sales figures at 4306 units. Tropic Cherry reappeared in the rankings at fourth, while Summit Berry Jellies 10-Pack managed to secure the fifth position, despite a decline in sales compared to previous months. This analysis highlights the dynamic nature of product performance within Summit's offerings, showcasing shifts in consumer preferences over the months.
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.
