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Aug-2024
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Overview
Market Insights Snapshot
Magic Edibles has shown a consistent presence in the Michigan market, particularly in the Edible category. Over the summer months, their ranking fluctuated slightly, moving from 9th in May 2024 to 10th in June 2024, then 11th in July 2024, before returning to 10th in August 2024. This indicates a strong and stable performance despite minor fluctuations. The sales figures reflect an upward trend, with a notable increase from $674,448 in May to $783,684 in August, suggesting growing consumer preference and market penetration in the Edible segment.
In the Beverage category, Magic Edibles' performance in Michigan has been more variable. They ranked 12th in May 2024, dropped out of the top 30 in June and July, and then reappeared at 11th in August 2024. This inconsistent ranking could indicate challenges in maintaining a steady market share in the Beverage category. However, the fact that they managed to re-enter the top 30 by August with sales increasing from $20,156 in May to $20,418 in August suggests potential recovery and resilience in this segment. The fluctuations highlight areas for potential growth and the need for strategic adjustments to sustain their market position.
Competitive Landscape
In the competitive landscape of the Michigan edibles market, Magic Edibles has experienced notable fluctuations in its rank, moving from 9th in May 2024 to 10th in August 2024. This period saw Magic Edibles consistently competing with brands like Dixie Elixirs, which maintained a higher rank, ranging from 7th to 10th, and Monster Xtracts, which showed a strong performance, climbing to 7th in July 2024. Despite these challenges, Magic Edibles' sales showed a positive trend, increasing from $674,448 in May to $783,684 in August. The brand's ability to maintain a competitive position against Kushy Punch and Good Tide, which also saw varying ranks, underscores its resilience and potential for growth in the Michigan market. For more detailed insights and advanced data, exploring the broader market trends and sales dynamics can provide a strategic advantage.
Notable Products
In August 2024, the top-performing product from Magic Edibles was Berry High Dose Chews (200mg), maintaining its rank at number one with a notable sales figure of $28,160. Lemonade Gummies 4-Pack (200mg) held steady in the second position, showcasing consistent popularity. Pineapple Chews (200mg) ranked third, a slight improvement from its fourth position in June and July. Fruit Punch Chews (200mg) made a significant comeback, rising to fourth place after not being ranked in the previous two months. New to the top five, Magic Berry Gummies 4-Pack (200mg) debuted at fifth place, indicating growing consumer interest.
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.
