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Sep-2024
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Overview
Market Insights Snapshot
Banned Cannabis Edible Co. has demonstrated a fluctuating performance in the edible category across various states, with notable activity in Michigan. In this state, the brand maintained a steady ranking of 17th place in both June and July 2024. However, August and September saw a decline to 20th and 22nd places, respectively. This downward trend in Michigan coincided with a decrease in sales from $485,486 in July to $356,966 in September. The brand's inability to maintain a top 20 position in the later months could indicate increased competition or changing consumer preferences within the state.
In other states, Banned Cannabis Edible Co. did not secure a position within the top 30 brands in their category, which could suggest a need for strategic adjustments or marketing efforts to enhance visibility and consumer engagement. The absence from the top rankings in these regions highlights a potential area for growth and expansion. This performance disparity across regions underscores the importance of localized strategies to cater to varying market dynamics and consumer behavior. The brand's journey in Michigan provides valuable insights into the challenges and opportunities present in the cannabis edible market.
Competitive Landscape
In the competitive Michigan edible market, Banned Cannabis Edible Co. has experienced fluctuations in its ranking over the past few months, dropping from 17th place in June and July 2024 to 22nd place by September 2024. This decline in rank is mirrored by a decrease in sales, which peaked in July before declining in August and September. Notably, competitors such as High Minded and Shattered Thoughts have maintained stronger positions, with High Minded consistently ranking higher, despite also experiencing a downward trend in sales. Meanwhile, Mojo (Edibles) has shown resilience, briefly surpassing Banned Cannabis Edible Co. in August. The competitive landscape suggests that while Banned Cannabis Edible Co. remains a significant player, it faces challenges from brands that are either maintaining or improving their market positions, emphasizing the need for strategic adjustments to regain momentum in this dynamic market.
Notable Products
In September 2024, Banned Cannabis Edible Co.'s top-performing product was Berry Melon Nerdless Gummies 4-Pack (200mg), which rose to the number one rank with sales reaching 7671 units. Blueberry Cluster Gummies 4-Pack (200mg) followed closely, dropping from its previous top position to second place. Watermelon Lemonade Cluster Gummies 4-Pack (200mg) maintained a consistent rank, holding the third position for the second consecutive month. Grape Cluster Gummies 4-Pack (200mg) saw a slight improvement, moving up to fourth place from its previous fourth position in August. Watermelon Cluster Gummies 4-Pack (200mg), which was the top product in June, fell to fifth place in September.
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.
