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Sep-2024
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Overview
Market Insights Snapshot
High TeHC has shown a dynamic performance across different states and categories, with notable fluctuations in their rankings. In the Edible category in Michigan, the brand did not initially make it to the top 30 rankings in June 2024, standing at 51st place. However, they have been making gradual progress, climbing up to the 56th position by September 2024. This upward trend suggests a positive reception in the market, although they still face challenges in breaking into the top 30, which could be a strategic goal for them moving forward.
While High TeHC's sales figures in Michigan reflect a promising increase from $42,693 in July to $48,700 in September, their ranking indicates that there is significant competition in the Edible category. The brand's absence from the top 30 in this category across the months highlights the competitive landscape they are navigating. This performance indicates room for growth and potential market strategies that could help them improve their standing. High TeHC's journey in Michigan serves as a microcosm of their broader market presence, where understanding consumer preferences and competitive dynamics will be crucial for enhancing their market share.
Competitive Landscape
In the Michigan edibles market, High TeHC has experienced notable fluctuations in its competitive positioning from June to September 2024. Initially ranked at 51st in June, High TeHC saw a decline in July and August, dropping to 68th and 66th respectively, before rebounding to 56th in September. This pattern reflects a challenging competitive landscape, where brands like Lit Labs and Goody Bag have maintained relatively stable positions, with Lit Labs consistently outperforming High TeHC in sales. Meanwhile, Wonder Wellness Co. also showed resilience, climbing from 60th in June to 50th in July, before settling close to High TeHC's rank in September. These dynamics suggest that while High TeHC is making strides to recover its market position, it faces stiff competition from brands that have either maintained or improved their standings, indicating a need for strategic adjustments to capture more market share.
Notable Products
In September 2024, Boost - Lemon Delight Gummies 20-Pack (200mg THC) maintained its position as the top-performing product for High TeHC, a consistent leader since July with sales of 681 units. Now-N-Later - Pineapple Crush Hybrid Gummies 20-Pack (200mg) climbed back up to the second position after experiencing a dip to fourth place in August, showing a recovery in its sales trajectory. The Regen - CBD/THC 3:2 Orange Blossom Hybrid Gummies 20-Pack made a notable entry at third place, marking its first appearance in the rankings. Sleep - THC/CBN 1:2 Wildberry Drift Chamomile Gummies 20-Pack dropped to fourth place after leading in August, indicating a significant change in consumer preference. Lastly, Meri Melon Gummies 20-Pack remained steady at fifth place throughout the observed months, showing consistent performance in 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.
