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Oct-2024
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Overview
Market Insights Snapshot
In the state of Michigan, Cannalicious Labs has demonstrated notable performance, particularly in the Concentrates category. Over the months from July to October 2024, the brand has shown a steady climb in rankings, moving from the 6th position in July to a commendable 3rd position by October. This upward trajectory is indicative of a strong market presence and growing consumer preference in this category. The sales figures corroborate this trend, with a consistent increase from $553,580 in July to $705,009 in October, highlighting a robust growth pattern. On the other hand, their presence in the Vapor Pens category has been less consistent, with rankings missing in August, suggesting they were not in the top 30, which might indicate a need for strategic reevaluation in this segment.
When examining the Edible category, Cannalicious Labs has maintained a stable position in Michigan, ranking 14th in both September and October 2024. This stability, despite not breaking into the top 10, suggests a steady consumer base and consistent sales performance, with a slight increase in sales from $506,865 in September to $529,217 in October. However, the absence of rankings in other states or provinces for these categories could imply limited geographic reach or competitive challenges outside of Michigan. This presents both a challenge and an opportunity for Cannalicious Labs to expand and strengthen its brand footprint beyond its current stronghold.
Competitive Landscape
In the competitive landscape of the Michigan concentrates market, Cannalicious Labs has shown a promising upward trajectory in recent months. From July to October 2024, Cannalicious Labs improved its rank from 6th to 3rd, indicating a strong growth in market presence. This rise in rank is particularly noteworthy when compared to competitors like Traphouse Cannabis Co., which experienced fluctuations, dropping from 4th in July to 8th in August before recovering to 5th in October. Meanwhile, #Hash maintained a steady 2nd position throughout the same period, and The Limit consistently held the top spot. Interestingly, Rkive Cannabis made a significant leap from 14th in September to 4th in October, showcasing a volatile yet impactful presence. Cannalicious Labs' consistent climb in rank, coupled with increasing sales figures, suggests a robust strategy and growing consumer preference, positioning it as a formidable player in the Michigan concentrates market.
Notable Products
In October 2024, the top-performing product from Cannalicious Labs was the Watermelon RSO High Dose Gummies 10-Pack (200mg) in the Edible category, maintaining its top rank since September and achieving sales of 12,973 units. The Mixed Berry RSO Rest Gummies 10-Pack (200mg), also in the Edible category, held steady at the second rank, consistent with its performance since August. The Recovery - Mango RSO Gummies 10-Pack (200mg) remained third, demonstrating stable sales figures throughout the months. Notably, the Recovery RSO Dart (1g) in the Concentrates category climbed to fourth place in October, having not been ranked in the previous months. The CBD/THC 1:1 Rest RSO Dart (1g) entered the rankings at fifth place, indicating a strong debut in the Concentrates category for October.
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.
