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Oct-2024
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Overview
Market Insights Snapshot
Legit Labs has shown a noticeable decline in performance in the Michigan market, particularly within the Vapor Pens category. Starting from a rank of 37 in July 2024, the brand has slipped out of the top 30 by October 2024, landing at rank 94. This downward trend is accompanied by a consistent decrease in sales figures, indicating challenges in maintaining market presence and consumer interest. The drop in ranking suggests increased competition or possible shifts in consumer preferences within the state, which may require strategic adjustments from Legit Labs to regain its footing.
While the data highlights a struggle for Legit Labs in Michigan, it does not provide a complete picture of their performance across other states or categories. The absence of rankings in other states or categories suggests that Legit Labs is not currently a top contender in those areas, which could either indicate a focus on specific markets or a need for broader brand expansion. Understanding these dynamics is crucial for stakeholders looking to assess the brand's overall market strategy and potential areas for growth or improvement. Such insights could be pivotal for future decision-making and strategic planning.
Competitive Landscape
In the competitive landscape of vapor pens in Michigan, Legit Labs has experienced a notable decline in both rank and sales over the past few months. Starting from a strong position at 37th in July 2024, Legit Labs dropped to 94th by October 2024. This downward trend in rank is mirrored by a significant decrease in sales, suggesting challenges in maintaining market share. In contrast, brands like Sky High Gardens and Tyson 2.0 have shown fluctuating ranks but have managed to maintain relatively stable sales figures, indicating a more resilient market presence. Meanwhile, Cannalicious Labs and Made By A Farmer have also struggled with ranking consistency, yet their sales have not plummeted as sharply as Legit Labs. This competitive analysis highlights the importance for Legit Labs to reassess its market strategies to regain its footing in the Michigan vapor pens category.
Notable Products
In October 2024, Legit Labs' top-performing product was the Chronic x Kinship - Pot Pie Infused Pre-Roll (1.25g) in the Pre-Roll category, maintaining its first-place rank from previous months despite a decline in sales to 632 units. The Halle Berry Cured Resin Disposable (1g) emerged as the second-best product in the Vapor Pens category with 321 units sold, marking its debut on the rankings. The Purified Full Spectrum RSO Syringe (1g) secured the third position in the Concentrates category, also entering the rankings for the first time. Cadillac Rainbows Cured Resin Disposable (1g) dropped from third to fourth place in the Vapor Pens category with 258 units sold, sharing the rank with Ice Kush Cured Resin Post-Less Disposable (1g), which also saw a decline in sales. Overall, the rankings indicate a dynamic shift in product popularity, particularly within the Vapor Pens 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.
