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Apr-2024
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Overview
Market Insights Snapshot
In the Colorado market, West Edison has shown a consistent performance in the Concentrates category, maintaining its position within the top 10 ranks from January to April 2024. The brand saw a slight improvement in February, moving up to the 6th position, but then settled back to the 9th spot for March and April. This stability in ranking, despite a noticeable drop in sales from March (286,984) to April (210,710), indicates a strong presence within the category, though the declining sales figure could suggest a need for strategic adjustments to counteract market challenges or consumer preference shifts. The fact that West Edison remained in the top 10 throughout these months highlights its significance in the Concentrates category within the state, underscoring its resilience amidst fluctuating sales figures.
On the other hand, West Edison's performance in the Vapor Pens category tells a story of gradual improvement within the competitive landscape of Colorado. Starting outside the top 30 in January 2024, the brand made a notable leap into the 37th position by February and continued to inch its way up to the 38th spot by April. This upward trajectory, even as it remains outside the top 30, suggests a growing consumer interest or enhanced distribution efforts in this segment. However, the brand's positioning far below the top ranks indicates there is substantial room for growth and an opportunity for West Edison to further capitalize on the Vapor Pens market. The progress, albeit slow, is a positive sign, but breaking into the top 30 will require sustained effort and possibly innovative strategies to capture a larger market share.
Competitive Landscape
In the competitive landscape of the concentrates category in Colorado, West Edison has shown a consistent performance, maintaining its position within the top 10 brands across the first four months of 2024. Notably, West Edison's rank fluctuated slightly, peaking at 6th in February before stabilizing at 9th in both March and April. This is in contrast to its competitors, such as Nomad Extracts, which climbed to 7th by April, and Dablogic, making a significant leap from 23rd to 10th position in the same period, indicating a more dynamic shift in their market presence. Meanwhile, Bud Fox Supply Co has consistently outperformed West Edison in terms of rank, but experienced a slight decline from 6th to 8th. On the other hand, Seed and Smith (LBW Consulting) showed remarkable growth, moving from below the top 20 to 11th by April, underscoring a potential rise in consumer preference. These movements suggest a competitive but volatile market for concentrates in Colorado, with West Edison maintaining a strong position amidst shifting dynamics and emerging competitors.
Notable Products
In April 2024, West Edison's top-performing product was Montbello Yum Yum Budder (1g) from the Concentrates category, which saw sales of 1176.0 units, marking it as the number one selling product for the month. Following closely behind in second place was the Granddaddy Purp Live Resin Cartridge (1g) from the Vapor Pens category, showcasing a significant demand in the vapor pen market. The third spot was taken by Strawberry Bonbon Shatter (1g), also from the Concentrates category, indicating a strong preference among consumers for concentrate products. West Edison Badder (1g) secured the fourth position, further emphasizing the popularity of concentrates. Notably, the rankings of these products changed significantly from previous months, with Montbello Yum Yum Budder (1g) jumping from not being in the top five to leading the sales in April, highlighting dynamic consumer preferences within the cannabis market.
Top Selling Cannabis Brands
