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Aug-2024
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Overview
Market Insights Snapshot
High TeHC's performance in the Michigan edible category has seen some fluctuations over the past few months. In May 2024, the brand was ranked 52nd, gradually improving to 50th in June, but then dropping out of the top 30 in July and August, ranking 66th and 60th respectively. Despite the rank movements, sales figures show a notable increase from May to June, with a slight decline in the following months. This mixed performance indicates that while High TeHC has potential, it faces significant competition and market challenges in Michigan's edible category.
Analyzing the broader trends, High TeHC's ability to climb slightly in June suggests a temporary boost, possibly from a new product launch or a promotional campaign. However, the subsequent drop in rankings and sales in July and August highlights potential issues with sustaining consumer interest or market penetration. The brand's absence from the top 30 in the latter months is a critical point, suggesting that despite initial gains, High TeHC needs to strategize better to maintain and grow its market share in Michigan's competitive edible segment.
Competitive Landscape
In the competitive landscape of the Michigan edible cannabis market, High TeHC has experienced notable fluctuations in rank and sales over the past few months. High TeHC's rank shifted from 52nd in May 2024 to 60th in August 2024, indicating a decline in its competitive position. This downward trend contrasts with the performance of competitors such as Shatter House Extracts, which improved its rank from 86th to 64th over the same period, and Made By A Farmer, which rose from 96th to 62nd. Despite these challenges, High TeHC's sales showed resilience, with a slight recovery from July to August 2024. However, the brand still faces stiff competition from Goody Bag, which consistently maintained a higher rank, though it experienced a dip from 49th to 56th. This competitive analysis highlights the dynamic nature of the market and the need for High TeHC to strategize effectively to regain its standing and boost sales.
Notable Products
In August 2024, the top-performing product for High TeHC was the Sleep - THC/CBN 1:2 Wildberry Drift Chamomile Gummies 20-Pack, which jumped to the first rank with notable sales of 1013 units. The Boost - Lemon Delight Gummies 20-Pack maintained a strong position, securing the second rank, consistent with its previous performance in June and July. Now-N-Later - Pineapple Crush Hybrid Gummies 20-Pack saw a decline, dropping to the third rank from its previous top positions in May and June. Meri Melon Gummies 20-Pack held the fourth rank, showing a steady but declining trend over the months. The Kick - THC:THCV Berry Gummies 20-Pack debuted at the fifth rank in August, indicating a promising start.
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.
