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Nov-2024
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Overview
Market Insights Snapshot
Dragonfly Cannabis has shown varied performance across different product categories in Michigan. In the Flower category, the brand did not make it into the top 30 rankings from August through November 2024, indicating a need to strengthen its presence in this competitive segment. Conversely, Dragonfly Cannabis has maintained a strong foothold in the Pre-Roll category, consistently ranking within the top 5 from August to November. This stability suggests that the brand is well-regarded for its pre-roll offerings, even though sales have shown a downward trend over these months. Meanwhile, in the Vapor Pens category, Dragonfly Cannabis improved its ranking from 22nd in August and September to 19th in October and November, suggesting a positive reception to their vapor pen products.
Despite not ranking in the Flower category, Dragonfly Cannabis's performance in Vapor Pens indicates a growing momentum, as evidenced by an upward trend in sales from August to November. This could be an area of opportunity for the brand to capitalize on, especially as consumer preferences continue to evolve. The consistent ranking in the Pre-Roll category, despite a decline in sales, highlights the importance of maintaining product quality and customer loyalty. The brand's ability to hold its position in the top 5 for Pre-Rolls suggests a robust market presence in this category, but the sales trend indicates potential challenges that may need addressing to sustain its market share.
Competitive Landscape
In the competitive landscape of the Michigan Pre-Roll category, Dragonfly Cannabis has experienced notable fluctuations in its market position from August to November 2024. Initially ranked 4th in August, Dragonfly Cannabis climbed to 3rd in September, only to drop to 5th in both October and November. This decline in rank correlates with a consistent decrease in sales over the same period, suggesting potential challenges in maintaining market share. In contrast, Goodlyfe Farms has maintained a strong and stable position, consistently ranking 3rd, which may indicate a more loyal customer base or successful marketing strategies. Meanwhile, Distro 10 has shown resilience by improving its rank from 6th in August to 4th in November, likely benefiting from a strategic approach that has bolstered its sales figures. Additionally, STIIIZY improved its rank from 8th to 6th by November, demonstrating a positive trend that could pose a future threat to Dragonfly Cannabis if the latter does not address its current sales decline. These dynamics highlight the competitive pressures Dragonfly Cannabis faces and underscore the importance of strategic adjustments to regain its earlier momentum.
Notable Products
In November 2024, the top-performing product for Dragonfly Cannabis was Something Good Pre-Roll (1g) in the Pre-Roll category, which secured the number 1 rank with sales of 45,305 units. Strawberry Kiwi Infused Pre-Roll (1.25g) climbed to the second position, improving from its fourth rank in October. SFV Sunset Pre-Roll (1g), previously holding the top rank for three consecutive months, slipped to third place. Sour Pebbles Infused Pre-Roll (1.25g) entered the rankings at fourth position, while Forbidden Fruit Infused Pre-Roll (1.25g) debuted at fifth. The shifts in rankings highlight a dynamic change in consumer preferences, with infused pre-rolls gaining popularity.
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.
