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Oct-2024
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Overview
Market Insights Snapshot
Dazed (MI) has shown a notable upward trajectory in the Concentrates category within Michigan. Starting from a rank of 40 in July 2024, the brand has climbed steadily to reach the 14th position by October 2024. This significant rise indicates a strong growth in market presence and consumer preference, as reflected in the increasing sales figures over these months. The brand's ability to break into the top 30 and then continue its ascent suggests a successful strategy in product offerings or market engagement.
In contrast, the absence of Dazed (MI) from the top 30 rankings in other states or provinces highlights potential areas for growth and expansion. The lack of presence in these markets might be viewed as a missed opportunity, especially given the brand's success in Michigan. This discrepancy could be due to various factors such as distribution limitations, brand recognition, or competitive dynamics in those regions. Understanding these elements could be crucial for Dazed (MI) as it seeks to replicate its Michigan success in other markets.
Competitive Landscape
In the competitive landscape of concentrates in Michigan, Dazed (MI) has shown a remarkable upward trajectory over the past few months. Starting from a rank of 40 in July 2024, Dazed (MI) climbed to 14 by October 2024, indicating a significant improvement in market presence and consumer acceptance. This ascent is particularly notable when compared to competitors like Element, which improved from rank 26 to 16, and Canna Bee Extracts, which jumped from 23 to 15 during the same period. Meanwhile, Society C also showed strong performance, peaking at rank 10 in September before settling at 12 in October. Despite these competitors' movements, Dazed (MI)'s rapid rise suggests a growing consumer preference and effective market strategies. However, it still faces stiff competition from established brands like Ice Kream Hash Co., which consistently maintained a top 15 position, albeit with a slight decline from 11 to 13. As Dazed (MI) continues to enhance its market strategy, its trajectory suggests potential for further growth in sales and rank.
Notable Products
In October 2024, Dazed (MI) maintained its strong performance with the THC Full Spectrum RSO Syringe (1g) leading the sales charts, retaining its top position from the previous months with a notable sales figure of 20,852. The CBD/THC 1:1 Full Spectrum RSO Syringe (1g) also consistently held the second spot across the months. Lemon Gelato Live Resin (1g) remained steady at third place, showing a slight decrease in sales compared to September. GMO Live Resin (1g) climbed to fourth place, despite not being ranked in September. White Widow Moonrocks (1g) re-entered the rankings at fifth place, recovering from an absence 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.
