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Aug-2024
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Overview
Market Insights Snapshot
In Colorado, Tastebudz has shown notable performance in the Edible category, maintaining a consistent ranking of 5th place from May to July 2024, and then advancing to 4th place in August 2024. This upward movement is indicative of growing consumer preference and market penetration in the state. On the other hand, their performance in the Vapor Pens category has been less impressive, with rankings fluctuating between 19th and 23rd place over the same period. Despite a peak in sales in June 2024, the brand's position in this category reflects a need for strategic improvements to gain a stronger foothold.
In Oregon, Tastebudz's presence in the Concentrates category has not been as strong, as evidenced by their absence from the top 30 brands for the months of May through August 2024. This absence suggests either a lack of market penetration or consumer preference in this particular category within the state. The recorded sales in August 2024, although modest, indicate some level of consumer activity, but the brand will need to focus on enhancing its visibility and appeal in the Oregon market to improve its rankings and sales performance.
Competitive Landscape
In the competitive landscape of the Colorado edible cannabis market, Tastebudz has shown a notable upward trend in its ranking and sales over the past few months. In May 2024, Tastebudz was ranked 5th, maintaining this position through June and July, before climbing to 4th place in August 2024. This positive shift in rank is accompanied by a steady increase in sales, from $661,958 in May to $1,193,392 in August. Competitors such as Wana have consistently held the 2nd position, indicating a strong market presence, while Ript has maintained the 3rd position. Interestingly, Dialed In Gummies saw a decline from 3rd place in May to 6th in August, which may have contributed to Tastebudz's rise. Additionally, Good Tide has shown a similar upward trajectory, moving from 6th to 5th place. These shifts suggest a dynamic market where Tastebudz is gaining traction, potentially at the expense of other brands, and positioning itself as a stronger contender in the edible category.
Notable Products
In August 2024, the top-performing product for Tastebudz was Nightly Rituals - CBD/CBN/THC 1:1:1 Blueberry Lavender 20-Pack (100mg CBD, 100mg CBN, 100mg THC), maintaining its first-place ranking with notable sales of 17,448 units. Following closely, the CBD:THC 50:1 Hybrid Raspberry Lemonade Gummies 20-Pack (1000mg CBD, 20mg THC) held the second position consistently over the past months. Indica Blue Raspberry Live Rosin Gummies 10-Pack (100mg) secured the third spot, showing a steady performance after a brief dip to fifth place in June. The Hybrid Assorted Fruit Flavors Rosin Gummies (100mg) remained in the fourth position throughout the months. New to the rankings in August, the Sativa Kiwi Strawberry Live Rosin Gummies 10-Pack (100mg) debuted at fifth place with impressive sales figures.
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.
