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Nov-2024
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Overview
Market Insights Snapshot
Magic Edibles has shown varied performance across different categories and states, with notable movements in their rankings. In the Beverage category in Michigan, the brand experienced a slight dip in September 2024, moving from the 12th to the 13th position. However, it regained momentum by November, climbing back to the 11th spot. This upward trend is supported by a consistent increase in sales from September to November, indicating a positive reception in the market. Conversely, the Edible category in Michigan saw a gradual decline in rankings from August to October, moving from 10th to 14th place, before slightly improving to 13th in November. This fluctuation suggests that while Magic Edibles is a recognized player, competition in the Edible category remains fierce.
While Magic Edibles maintains a presence in the top 30 brands in Michigan, the data highlights areas for potential growth and market penetration. The Beverage category's performance in Michigan suggests a stronghold, with a steady rank improvement and sales reflecting consumer interest. However, the Edible category's ranking indicates a need for strategic adjustments to regain a stronger foothold. The absence of rankings in other states or provinces for these categories implies that Magic Edibles may not yet be a significant player outside Michigan, presenting both a challenge and an opportunity for expansion. This data provides a snapshot of Magic Edibles’ market dynamics, showcasing both strengths and areas for development within their current operational regions.
Competitive Landscape
In the competitive landscape of the Michigan edibles market, Magic Edibles has experienced notable fluctuations in its rank over the past few months, which could impact its sales trajectory. Despite starting strong in August 2024 with a rank of 10, Magic Edibles saw a decline to 14 by October, before slightly recovering to 13 in November. This downward trend in rank coincides with a decrease in sales from August to October, although there was a slight rebound in November. Competitors like Good Tide have maintained a more stable presence, ranking consistently higher than Magic Edibles, although they too experienced a decline in sales by November. Meanwhile, Cannalicious Labs and High Minded have shown upward momentum in their rankings, with Cannalicious Labs improving from 16 to 12 and High Minded making a significant jump from being outside the top 20 to 14 in November. These shifts suggest a dynamic market where Magic Edibles faces increasing competition, necessitating strategic adjustments to regain its previous standing and boost sales.
Notable Products
In November 2024, Pineapple Chews (200mg) emerged as the top-performing product for Magic Edibles, reclaiming its previous peak position from September with sales reaching 21,755 units. Berry High Dose Chews (200mg) slipped to second place, despite being the leader in October, with a notable sales figure of 19,944 units. Grape Chews 4-Pack (200mg) climbed to third place, showing consistent improvement since its introduction in October. Lemonade Gummies 4-Pack (200mg) re-entered the rankings in fourth place, after being absent in October. Fruit Punch Chews (200mg) maintained a steady presence, holding the fifth position as it did in October.
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.
