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Aug-2024
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Overview
Market Insights Snapshot
HY-R has demonstrated notable fluctuations in the Pre-Roll category within Michigan over the past few months. Starting from a rank of 21 in May 2024, the brand experienced a slight decline, reaching 25th place in June and further dropping to 29th in July. However, August saw a significant rebound as HY-R climbed back to the 21st position. This movement indicates that while the brand faced some challenges mid-year, it managed to recover its standing by the end of summer. The sales figures corroborate this trend, with a notable increase in August, suggesting a successful strategy or campaign that helped regain market share.
Despite the ups and downs in Michigan, the absence of HY-R in the top 30 rankings for other states and categories suggests that the brand may be struggling to achieve similar success elsewhere. This could be viewed as a limitation in their market penetration or competitive positioning outside of Michigan. However, the ability to rebound in a significant market like Michigan shows potential for growth if similar strategies are applied in other regions. Observing the brand's performance in the coming months will be crucial to understanding whether HY-R can sustain and replicate its success across different states and categories.
Competitive Landscape
In the competitive landscape of the Michigan pre-roll category, HY-R has experienced significant fluctuations in its ranking and sales over the past few months. Notably, HY-R's rank dropped from 21st in May 2024 to 29th in July 2024, before rebounding to 21st in August 2024. This volatility contrasts with the more consistent performance of competitors like Sapphire Farms, which improved from 19th in May to 20th in August, and Ready Rolled Co, which surged from 48th in May to 19th in August. Despite these rank changes, HY-R's sales saw a notable increase in August, reaching $554,908, suggesting a potential recovery. Meanwhile, LOCO and Skymint also showed varying trends, with LOCO peaking at 18th in July and Skymint maintaining a steady presence around the 23rd position. These insights highlight the competitive pressures HY-R faces and underscore the importance of strategic adjustments to sustain and improve its market position.
Notable Products
In August 2024, the top-performing product for HY-R was Peach Infused Infused Pre-Roll (1g) in the Pre-Roll category, achieving the number one rank with sales of 13,438 units. Orange Pineapple Infused Pre-Roll (1g) followed closely in the second position, showing a notable rise from its previous first rank in July. Strawberry Shortcake Infused Pre-Roll (1g) climbed to the third spot, up from fifth in July, indicating a significant increase in popularity. Banana Candy Infused Pre-Roll (1g) entered the rankings for the first time at fourth place. Cherry Punch Infused Pre-Roll (1.5g) dropped to fifth position from its consistent fourth rank in the previous months, demonstrating a decline in sales momentum.
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.
