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Aug-2024
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Overview
Market Insights Snapshot
Legit Labs has shown varied performance across different categories and states in recent months. In the Vapor Pens category in Michigan, the brand has experienced fluctuating rankings. Although Legit Labs was ranked 55th in May 2024 and improved slightly to 51st in June 2024, they fell to 60th in July 2024 and were not in the top 30 by August 2024. This indicates a significant drop in their market presence for Vapor Pens in Michigan, which could be concerning for stakeholders.
Despite the ranking challenges in Michigan, the sales data for Legit Labs shows some interesting trends. For example, the brand's sales in the Vapor Pens category increased slightly from May to June 2024 but then saw a notable decline in July 2024. The absence of ranking data for August 2024 suggests that Legit Labs may have struggled to maintain its position in a competitive market. This dynamic indicates that while there are opportunities for growth, the brand needs to address underlying issues to stabilize and improve its market share.
Competitive Landscape
In the competitive landscape of Vapor Pens in Michigan, Legit Labs has shown a fluctuating but generally strong performance compared to its peers. Over the period from May to August 2024, Legit Labs maintained a relatively high rank, starting at 55th in May, peaking at 51st in June, and then dropping to 60th by July. This indicates a competitive but volatile market position. In contrast, Society C showed a steady improvement, moving from 60th in May to 55th in June, before falling out of the top 20 in subsequent months. Meanwhile, Bowhouse experienced a significant decline, dropping from 63rd in May to 99th in July, reflecting a sharp decrease in sales. Bamn remained relatively stable but lower-ranked, hovering around the 100th mark. These insights suggest that while Legit Labs faces stiff competition, particularly from brands like Society C, it has managed to sustain a higher rank, which could be leveraged to drive further sales growth and market penetration.
Notable Products
In August 2024, the top-performing product from Legit Labs was GMO Zkittles x Grapefruit Durban Poison Live Resin (1.3g) in the Concentrates category, achieving the number one rank with sales of $324. The Purified Full Spectrum RSO Syringe (1g), also in the Concentrates category, secured the second position. Michigan Cherries Cured Resin Disposable (1g) fell from its consistent first place in June and July to third place. Triple OG Cured Resin Disposable (1g) dropped to fourth, following its second rank in July. Rocket Fuel Cured Resin Disposable (1g) entered the top five at the fifth position in August.
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.
