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Nov-2024
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Overview
Market Insights Snapshot
In the Michigan cannabis market, Dazed (MI) has shown a significant upward trajectory in the Concentrates category over the past few months. Starting from a rank of 36 in August, the brand made an impressive leap to the 16th position by October. However, November saw a slight dip back to 24. This fluctuation in ranking reflects dynamic market conditions and possibly heightened competition within the concentrates segment. Despite the November setback, the brand's sales figures have generally trended upwards, with a notable peak in October.
The absence of Dazed (MI) from the top 30 rankings in other states or categories suggests that the brand's current market strength is concentrated within Michigan's concentrates market. This highlights both a potential vulnerability and an opportunity for expansion. The brand's performance in Michigan indicates a solid foundation upon which they could build by exploring other categories or states. Understanding the factors that contributed to their rise and slight fall in Michigan could provide valuable insights for strategic growth in new markets.
Competitive Landscape
In the competitive landscape of the Michigan concentrates market, Dazed (MI) has shown notable fluctuations in rank over the past few months, reflecting a dynamic competitive environment. In August 2024, Dazed (MI) was ranked 36th, but it made a significant leap to 16th place by October, showcasing a strong upward trend in sales performance. However, by November, its rank slipped to 24th, indicating increased competition. Notably, Rkive Cannabis experienced a dramatic rise from 17th in September to 5th in October, before dropping to 25th in November, suggesting volatility in consumer preferences. Meanwhile, Canna Bee Extracts improved its rank to 18th in October but fell to 23rd in November, closely trailing Dazed (MI). These shifts highlight the competitive pressure Dazed (MI) faces, especially from brands like ErrlKing Concentrates, which rebounded to 22nd place in November. As Dazed (MI) navigates this competitive landscape, understanding these trends and the strategies of its competitors can provide valuable insights for maintaining and enhancing its market position.
Notable Products
In November 2024, the top-performing product from Dazed (MI) was the Dazed THC Full Spectrum RSO Syringe (1g) in the Concentrates category, maintaining its first-place ranking consistently from August through November with a notable sales figure of 14,882. The CBD/THC 1:1 Full Spectrum RSO Syringe (1g) also held steady in the second position across these months, showcasing consistent sales performance. Candy Land Live Resin (1g) entered the rankings for the first time in November, securing the third spot. Lemon Gelato Live Resin (1g) dropped one place from October to November, moving from third to fourth. GMO Live Resin (1g) experienced a similar decline, slipping from fourth in October to fifth in November.
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.
