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Oct-2024
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Overview
Market Insights Snapshot
HOH Hempnotize has shown an impressive upward trend in the Topical category in Michigan. Starting from a rank of 11 in July 2024, the brand climbed to 7th place by August. This positive trajectory is indicative of a growing consumer base and increased market penetration in the state. However, it's worth noting that by September and October, the brand did not appear in the top 30 rankings. This absence could suggest a decline or a shift in market dynamics that may have affected their visibility in the rankings.
The sales figures for HOH Hempnotize in Michigan's Topical category show a positive momentum from July to August, with sales increasing from $10,401 to $11,438. This growth in sales aligns with their improved ranking during the same period, suggesting effective marketing strategies or product acceptance. Despite the lack of data for subsequent months, the initial sales boost reflects a promising start for the brand in Michigan, though the absence from the top 30 in later months indicates potential challenges or increased competition. Further analysis would be required to understand the underlying factors contributing to this performance shift.
Competitive Landscape
In the Michigan Topical category, HOH Hempnotize has demonstrated a notable upward trajectory in recent months, moving from the 11th rank in July 2024 to 7th in August 2024, before dropping out of the top 20 by September 2024. This fluctuation in rank highlights a competitive landscape where brands like Zilla's and Made By A Farmer are also vying for market share. Zilla's, for instance, held the 7th position in July 2024 and reappeared at 9th in September 2024, indicating a consistent presence despite missing from the top 20 in August and October. Meanwhile, Made By A Farmer entered the rankings at 8th in August and maintained this rank in September, suggesting a stable performance. The competitive dynamics are further complicated by Northern Connections, which maintained a steady 10th position in July and August before disappearing from the top 20. These shifts suggest that while HOH Hempnotize has made significant gains, maintaining a consistent top-tier position remains a challenge amidst strong competition, highlighting the need for strategic marketing and product differentiation to sustain and enhance its market presence.
Notable Products
In October 2024, the top-performing product for HOH Hempnotize was the CBD Gummies 30-Pack (1500mg CBD) from the Edible category, which climbed to the first position with a notable sales figure of 91 units. The CBD Pet Treats 30-Pack (150mg CBD) also showed significant performance, securing the second rank, a notable rise from its absence in previous months' rankings. Meanwhile, the CBD Honey Crisp Apple Tincture (2000mg CBD, 30ml) maintained a steady third position, reflecting consistent demand. The CBD Gummies 30-Pack (750mg CBD), which had been ranked second in September, did not appear in the October rankings, indicating a shift in consumer preference. Overall, the Edible category dominated the top ranks, showcasing strong consumer interest in these products for October 2024.
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.
