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Oct-2024
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Overview
Market Insights Snapshot
In the state of Michigan, HY-R has shown a consistent upward trajectory within the Pre-Roll category over the past few months. Starting from a rank of 22 in July 2024, HY-R improved its standing to 15 in August, 13 in September, and reached 12 by October. This positive movement indicates a strengthening presence in the Michigan market, reflecting increasing consumer preference and possibly effective distribution strategies. Despite not being in the top 30 earlier this year, HY-R's climb into higher ranks suggests a robust growth pattern that could potentially lead to a top 10 position if the trend continues.
HY-R's performance in other states and categories remains less visible, as the absence of rankings in those areas implies they are not yet in the top 30 brands. This could be seen as a challenge or an opportunity for HY-R to expand its market share beyond Michigan. The brand's notable success in the Pre-Roll category in Michigan might serve as a blueprint for replicating similar strategies in other regions. Observing how HY-R navigates market expansion and category diversification will be crucial for understanding its overall growth strategy in the competitive cannabis industry.
Competitive Landscape
In the competitive landscape of the Michigan Pre-Roll category, HY-R has shown a promising upward trajectory in recent months, climbing from a rank of 22 in July 2024 to 12 by October 2024. This improvement in rank is indicative of a consistent increase in sales, positioning HY-R closer to the top competitors. Notably, Play Cannabis has maintained a stable rank at 10, consistently outperforming HY-R in terms of sales. Meanwhile, Doobies has seen a slight decline, dropping from rank 9 to 11, which could present an opportunity for HY-R to surpass them if current trends continue. On the other hand, Pro Gro has experienced a more significant drop from rank 10 to 14, suggesting potential market share loss that HY-R could capitalize on. Additionally, Mitten Extracts has shown a notable rise from 25 to 13, indicating a competitive threat that HY-R should monitor closely. Overall, HY-R's upward movement in rank amidst these shifts highlights its growing presence and potential in the Michigan Pre-Roll market.
Notable Products
In October 2024, the top-performing product for HY-R was the Peach Infused Infused Pre-Roll (1g), maintaining its number one ranking from the previous months with a notable sales figure of 23,946. The Mango Infused Pre-Roll (1g) emerged as a strong contender, securing the second position, which is its debut in the rankings. The Banana Candy Infused Pre-Roll (1g) saw a slight drop from second to third place compared to September. Orange Pineapple Infused Pre-Roll (1g) fell from third to fourth, while Strawberry Shortcake Infused Pre-Roll (1g) descended to fifth position from its previous second place in August. Overall, the Pre-Roll category continues to dominate the sales for HY-R, with slight shifts in product rankings each month.
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.
