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Oct-2024
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Overview
Market Insights Snapshot
Canna Bee Extracts has shown a notable performance in the Michigan market, particularly within the Concentrates category. Over the past few months, the brand has made significant strides, moving from a rank of 23 in July 2024 to an impressive 15 by October 2024. This upward trajectory is accompanied by a substantial increase in sales, indicating a growing consumer preference for their products. However, it's important to note that while they have consistently ranked within the top 30, their position outside the top 30 in other states or provinces could suggest areas for potential growth or market entry strategies.
In the Vapor Pens category, Canna Bee Extracts has also demonstrated positive momentum in Michigan, climbing from a rank of 85 in July to 58 by October. This improvement is indicative of their expanding presence and increasing popularity among consumers. Despite this progress, the brand's absence from the top 30 in other regions might highlight a competitive challenge or an untapped market opportunity that could be explored further. Such insights can guide strategic decisions to enhance their market penetration and overall brand visibility across different states and product categories.
Competitive Landscape
In the competitive landscape of the Michigan concentrates market, Canna Bee Extracts has shown a notable improvement in its ranking from July to October 2024. Initially ranked 23rd in July, Canna Bee Extracts climbed to 15th by October, indicating a positive shift in market presence. This upward trajectory is significant when compared to competitors like Element, which also improved its rank from 26th to 16th but remained behind Canna Bee Extracts in October. Meanwhile, Dazed (MI) made a remarkable leap from 40th to 14th, surpassing Canna Bee Extracts by a narrow margin. Despite this, Canna Bee Extracts outperformed GreenCo Ventures, which dropped from 19th to 17th in the same period. The sales trends for Canna Bee Extracts also reflect a strong recovery, with October sales surpassing those of July, contrasting with the declining sales of Ice Kream Hash Co., which saw a consistent decrease in sales despite maintaining a higher rank. This data suggests that Canna Bee Extracts is gaining traction and could potentially continue its upward momentum in the Michigan concentrates market.
Notable Products
In October 2024, Black Cherry Punch Live Resin Terp Diamonds (1g) maintained its top position in the Concentrates category for Canna Bee Extracts, with impressive sales figures reaching 1442 units. Cannabee x Deluxx - White Runtz Live Resin Terp Diamonds (1g) emerged as a strong contender, securing the second spot in the same category. Pineapple Phanta Cookies Live Resin Terp Diamonds (1g) climbed to third place, showing a slight decrease in sales from September. Jar Jar Stink Live Resin Disposable (1g) moved up to fourth position in the Vapor Pens category, while Lilac Diesel Live Resin Disposable (1g) remained in fifth place. Compared to previous months, Black Cherry Punch Live Resin Terp Diamonds (1g) consistently held its rank, while other products like Pineapple Phanta Cookies Live Resin Terp Diamonds (1g) and Jar Jar Stink Live Resin Disposable (1g) showed notable shifts in their rankings.
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.
