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Nov-2024
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Overview
Market Insights Snapshot
In the state of Michigan, Five Star Extracts has shown varied performance across different cannabis categories. In the Concentrates category, the brand has experienced some fluctuations, ranking 30th in August 2024 and improving to 24th in October, before slipping back to 29th in November. This indicates a somewhat unstable presence within the top 30 rankings, suggesting that while the brand can compete, it faces challenges in maintaining a strong foothold. In contrast, the Edible category shows a more positive trend with a significant improvement from 84th place in August to 65th in November, indicating growing popularity and acceptance among consumers in this segment.
For Vapor Pens, Five Star Extracts started at a promising 39th position in August but then declined to 66th by October, before slightly recovering to 64th in November. This downward trend in rankings suggests that the brand is losing ground to competitors in this category, which might require strategic adjustments to regain its competitive edge. The sales figures reflect these ranking movements, with some categories showing more resilience than others. Overall, these dynamics highlight the brand's need to focus on stabilizing its performance in certain categories while leveraging its strengths in others to enhance its market position in Michigan.
Competitive Landscape
In the competitive landscape of the Michigan concentrates market, Five Star Extracts has experienced fluctuating rankings over the past few months, indicating a dynamic and competitive environment. In August 2024, Five Star Extracts was ranked 30th, improving to 28th in September and further to 24th in October, before slipping back to 29th in November. This fluctuation suggests a volatile market position, possibly influenced by competitive pressures and market dynamics. Notably, Common Citizen saw a significant drop from 3rd in August and September to 27th by November, indicating a potential opportunity for Five Star Extracts to capitalize on shifts among top competitors. Meanwhile, Strait-Fire maintained a relatively stable position, ranking 22nd in September and October before dropping to 30th in November, while Mischief showed similar volatility, ending November just one rank above Five Star Extracts. These movements highlight the competitive pressures Five Star Extracts faces, with potential for strategic adjustments to improve its market standing.
Notable Products
In November 2024, Traverse City Cherry Full Spectrum Gummies 4-Pack (200mg) emerged as the top-performing product for Five Star Extracts, climbing from second place in October to first, with a notable sales figure of 2381 units. The Black Cherry Trop Sugar Sauce Cartridge (0.5g) made its debut on the sales ranking list, securing the second position. Georgia Nug Run Sugar Sauce (1g) entered the rankings at third place, while Goat Gas Nug Run Sugar Sauce (1g) followed closely in fourth. Banana Sherbet Butter Cured Badder (1g), previously the top-ranked product in October, fell to fifth place. This shift in rankings indicates a strong consumer preference for edibles in November, with Traverse City Cherry Full Spectrum Gummies leading the charge.
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.
