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Sep-2024
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Overview
Market Insights Snapshot
The performance of High Minded in the Michigan cannabis market shows a mix of stability and variability across different product categories. In the Flower category, High Minded has consistently held strong, maintaining a top rank position of first place in June and July, only slipping slightly to second place in August and September. This indicates a robust demand and consumer loyalty in this category. However, their presence in the Concentrates category is less stable, with no ranking in June, but showing improvement by entering the top 30 in July and climbing to the 20th position by September. This upward trend in Concentrates suggests potential growth opportunities if the brand continues to focus on this segment.
In contrast, the Edible category has seen a gradual decline in rankings for High Minded, dropping from 13th place in June to 21st by September, which could be a point of concern if the trend continues. The Pre-Roll category also reflects some volatility, as they were not in the top 30 in June, fluctuated slightly, and finally improved to the 28th position in September. Meanwhile, Vapor Pens have shown a downward trajectory in sales, despite a consistent ranking around the mid-teens, indicating that while the brand maintains a presence, there might be challenges in boosting sales volume. These insights suggest that while High Minded has a strong foothold in certain categories, there are areas that require strategic focus to enhance their market position.
Competitive Landscape
In the competitive landscape of the Flower category in Michigan, High Minded has experienced notable shifts in its market position over the past few months. Initially holding the top rank in June and July 2024, High Minded was surpassed by Society C in August and September, indicating a competitive challenge as Society C's sales surged significantly. Despite this, High Minded maintained a strong second position, showcasing resilience amid increasing competition. Meanwhile, Pro Gro consistently held the third rank in June and July, but was overtaken by Society C, which highlights a dynamic market where consumer preferences are rapidly evolving. Goodlyfe Farms also demonstrated a remarkable rise from the 12th position in June to solidifying its place at fourth from July onwards, reflecting a growing brand presence. These shifts underscore the importance for High Minded to innovate and adapt its strategies to maintain its competitive edge in a fluctuating market environment.
Notable Products
In September 2024, the top-performing product for High Minded was Cherry Bomb Gummies 10-Pack (200mg) in the Edible category, which secured the number one rank with sales of 23,035 units. Tropical Punch Gummies 20-Pack (200mg), also in the Edible category, climbed to the second rank, maintaining a strong presence from previous months despite a brief dip in August. Sour Sunset Sherbet Pre-Roll (0.7g) rose to the third rank, showing a consistent performance in the Pre-Roll category. Sour Watermelon Gummies 10-Pack (200mg) experienced a drop to the fourth position, having previously held the top rank in July. Black Cherry High Dose Gummies 4-Pack (200mg) entered the top five for the first time, highlighting a significant change in consumer preference within the Edible category.
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.
