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Nov-2024
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Overview
Market Insights Snapshot
Canna Bee Extracts has shown notable fluctuations in its performance across different product categories and states. In the Michigan market, the brand has experienced a positive trend in the Concentrates category, climbing from a rank of 31 in August 2024 to 18 in October 2024, before settling at 23 in November 2024. This upward movement suggests a growing consumer preference for their concentrates, despite a slight dip in November. The sales figures reflect this trend, with a significant increase in October, indicating a potential peak in demand during that month. However, in the Vapor Pens category, Canna Bee Extracts did not manage to break into the top 30, maintaining ranks in the 60s and 70s, which points toward a challenging market position in this segment.
These rankings highlight a mixed performance for Canna Bee Extracts, with strengths in some areas and weaknesses in others. The brand's inability to enter the top 30 in the Vapor Pens category in Michigan is a concern, as it suggests limited market penetration or consumer appeal in this segment. Conversely, their progress in the Concentrates category indicates potential for growth and increased brand recognition. The data suggests that while Canna Bee Extracts is gaining traction in certain areas, there is room for improvement in others, particularly in expanding their market presence in vapor pens. This duality in performance could guide strategic decisions moving forward, focusing on leveraging strengths in concentrates while addressing the challenges faced in vapor pens.
Competitive Landscape
In the competitive landscape of concentrates in Michigan, Canna Bee Extracts has shown a dynamic shift in its market position from August to November 2024. Initially ranked 31st in August, Canna Bee Extracts improved its standing to 18th by October, before settling at 23rd in November. This fluctuation is indicative of a competitive market where brands like Dazed (MI) and Rkive Cannabis also experienced significant rank changes. Notably, Dazed (MI) moved from 36th to 16th in October, surpassing Canna Bee Extracts briefly, before dropping to 24th in November. Meanwhile, Rkive Cannabis peaked at 5th in October but fell to 25th in November, suggesting volatility in consumer preferences or market dynamics. Despite these fluctuations, Canna Bee Extracts' sales trajectory shows resilience, with a notable peak in October, which could be attributed to strategic marketing or product launches. This competitive analysis highlights the need for Canna Bee Extracts to continuously innovate and adapt to maintain or improve its market position amidst strong competition.
Notable Products
In November 2024, Parker OG Live Resin Terp Crumble (1g) emerged as the top-performing product for Canna Bee Extracts, leading the sales with a notable figure of 748 units sold. Train Wreck Live Resin Disposable (1g) secured the second position, showing improvement from its previous performance in August where it ranked third. Jar Stinks Cured Resin (1g) claimed the third spot, marking its first appearance in the top rankings. Jar Jar Stink Live Resin Disposable (1g) experienced a slight decline, moving from third in October to fourth in November. Lilac Diesel Live Resin Disposable (1g) maintained its fifth position for two consecutive months, despite a decrease in sales.
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.
