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Oct-2024
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Overview
Market Insights Snapshot
In the state of Michigan, LOCO has shown a varied performance across different product categories. Notably, in the Concentrates category, LOCO's presence has been quite limited, with rankings not appearing in the top 30 for the months of September and October 2024. This absence indicates a potential challenge or shift in consumer preferences that the brand might need to address. On the other hand, LOCO's performance in the Pre-Roll category has been more stable and promising. The brand improved its ranking from 22nd in August to 15th in September, before slightly dropping to 16th in October. This fluctuation in rankings, alongside relatively high sales figures, suggests a competitive presence in the Pre-Roll market despite minor setbacks.
LOCO's journey in Michigan's cannabis market highlights both opportunities and challenges. The brand's consistent appearance in the top 30 for Pre-Rolls suggests a strong foothold and potential for growth in this category. However, the absence from the top rankings in the Concentrates category for consecutive months could be a point of concern. It may indicate either a strategic shift away from this category or a need for revitalization to regain market share. Observing these trends could provide insights into LOCO's strategic decisions and market dynamics, offering a glimpse into how brands navigate the competitive landscape of the cannabis industry.
Competitive Landscape
In the competitive landscape of the Michigan Pre-Roll category, LOCO has demonstrated notable resilience and growth over recent months. Despite starting at the 20th rank in July 2024, LOCO improved its position to 15th by September, before slightly dropping to 16th in October. This upward trend in rank correlates with a significant increase in sales from August to September, indicating a positive reception of LOCO's offerings. In contrast, Pro Gro experienced a downward trajectory, falling from 10th to 14th, with a consistent decline in sales, which suggests potential market share opportunities for LOCO. Similarly, Road Trip and Top Smoke have shown fluctuating ranks and sales, with Road Trip maintaining a stable 17th position and Top Smoke dropping from 11th to 15th. Interestingly, Galactic emerged as a potential competitor by climbing from 36th to 18th, driven by a steady increase in sales. These dynamics highlight LOCO's competitive edge and potential for further growth in the Michigan Pre-Roll market.
Notable Products
In October 2024, the top-performing product from LOCO was Strawberry Cough Infused Pre-Roll (1g) in the Pre-Roll category, securing the number one rank with sales figures reaching 8678. The 24k Gold Punch Infused Pre-Roll (1g) rose to the second position, improving from its previous rank of third in September. Sour Tangie Live Resin Infused Pre-Roll (1g) maintained its competitive edge, holding the third spot after a slight dip from its second position in earlier months. Cherry Pie Infused Pre-Roll (1g) saw a notable decline, dropping to fourth place from its peak position in September. Berry Gelato Infused Pre-Roll (1g) re-entered the rankings at fifth place after being unranked in September.
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.
