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Oct-2024
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Overview
Market Insights Snapshot
Fresh Coast has shown a notable upward trajectory in the Concentrates category within Michigan, making a significant leap from being outside the top 30 to securing the 29th position by October 2024. This movement indicates a growing consumer interest and acceptance of their products in this category, likely driven by strategic product offerings or marketing efforts. In contrast, their performance in the Edible category has seen a decline, falling from 40th in July to 49th by October, suggesting potential challenges in maintaining consumer interest or facing increased competition. This divergence in category performance highlights the dynamic nature of consumer preferences and the competitive landscape in Michigan's cannabis market.
In the Vapor Pens category, Fresh Coast maintained a stable presence in the rankings through the summer months but experienced a drop to 42nd place by October. This decline could be attributed to several factors, such as shifts in consumer demand or the introduction of new competitors. Interestingly, despite the drop in ranking, the sales data for Vapor Pens in earlier months suggest a strong performance, indicating that while their market position may have weakened, their products still resonate with a core customer base. These insights into Fresh Coast's performance across different categories and the state of Michigan provide a glimpse into the brand's strategic positioning and the challenges it faces in a competitive market.
Competitive Landscape
In the competitive landscape of vapor pens in Michigan, Fresh Coast experienced notable fluctuations in its market position from July to October 2024. While Fresh Coast maintained a steady rank of 34 in July and August, it climbed to 31 in September, indicating a brief period of increased competitiveness. However, by October, Fresh Coast's rank dropped to 42, suggesting a decline in market traction. Comparatively, Element and True North Collective remained consistently ahead, with Element peaking at rank 32 in July and True North Collective maintaining a close range, despite a slight decline. Meanwhile, Cresco Labs and Thunder Canna were generally ranked lower than Fresh Coast, except for Thunder Canna's recovery to rank 44 in October. This competitive dynamic highlights the volatile nature of the market, where Fresh Coast's temporary rise in September was overshadowed by a significant drop in October, emphasizing the need for strategic adjustments to regain and sustain a competitive edge.
Notable Products
In October 2024, the top-performing product from Fresh Coast was Splash - Blueberry x Pineapple Fruz Live Resin Gummies 10-Pack (200mg), which climbed to the number one rank with sales of 2,224 units. Following closely, Splash - Orange Pineapple W/Trainwreck Live Resin Distillate Gummies 10-Pack (200mg) improved from fifth place in September to second place in October. Mother's Milk Live Resin Distillate Cartridge (1g) maintained a strong presence, ranking third, while Splash - Strawberry Lemonade & Lemon Sherbert Live Resin Distillate Gummies 10-Pack (200mg) held steady at fourth place. Half Pound Lemon Live Resin Distillate Cartridge (1g) rounded out the top five, dropping slightly from third in September to fifth in October. Overall, the rankings indicate a strong preference for edible products, with notable shifts in the gummy category month over month.
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.
