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Oct-2024
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Overview
Market Insights Snapshot
Magic Edibles has shown notable performance across different categories and states, with its presence particularly strong in Michigan. In the Beverage category, Magic Edibles has made significant strides, moving from being unranked in July 2024 to securing the 11th position by October 2024. This upward trend indicates a growing consumer interest and acceptance of their beverage offerings. Conversely, in the Edible category, while they maintained a presence throughout the months, there was a slight decline in their ranking from 10th in August to 13th by October. This suggests a competitive landscape in the Edible category that might require strategic adjustments to regain higher positions.
The sales data for Magic Edibles in Michigan reflects these ranking movements, with a notable increase in Beverage sales from August to October, indicating a successful market strategy or product launch during this period. However, the Edible category saw a decline in sales from July to October, which aligns with their drop in rankings. This could signal a need for innovation or marketing efforts to bolster their position in the Edible space. The absence of Magic Edibles in the top 30 brands in the Beverage category in July highlights the significant progress made in gaining market traction over the subsequent months.
Competitive Landscape
In the competitive landscape of the edible category in Michigan, Magic Edibles has experienced a notable shift in its market position from July to October 2024. Initially ranked 11th in July, Magic Edibles climbed to 10th in August, only to drop to 12th in September and further to 13th in October. This fluctuation in rank coincides with a decline in sales from August's peak, suggesting a potential challenge in maintaining consumer interest or facing increased competition. Notably, Dixie Elixirs has maintained a relatively stable position, consistently ranking around 10th and 11th, indicating steady sales performance. Meanwhile, True North Collective has shown a positive trajectory, improving its rank from 15th in July to 12th in October, which could signify a growing market presence. Additionally, PC Pure and Cannalicious Labs have also seen improvements in their rankings, suggesting increased competitiveness in the market. These dynamics highlight the need for Magic Edibles to strategize effectively to regain and sustain a higher market position amidst the evolving competitive pressures.
Notable Products
In October 2024, the top-performing product for Magic Edibles was Berry High Dose Chews 200mg, which reclaimed its number one position after a brief dip in September, achieving sales of 25,849 units. Pineapple Chews 200mg, which was the leader in September, moved to the second spot with a slight decrease in ranking. Blue Raspberry Fruit Chews 4-Pack 200mg showed a consistent rise, securing the third position from fourth in September, indicating a growing consumer preference. Grape Chews 4-Pack 200mg made a notable entry into the rankings, debuting at fourth place. Fruit Punch Chews 200mg, although maintaining a presence, slipped to fifth, highlighting a shift in consumer tastes this month.
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.
