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Aug-2024
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Overview
Market Insights Snapshot
Michigan Organic Rub has shown a consistent presence in the Michigan market, particularly in the topical category. Over the past four months, the brand has maintained a strong position, starting at rank 6 in both May and June 2024, before experiencing a slight drop to rank 9 in July and August 2024. This downward trend in rankings is reflective of a corresponding decrease in sales, from $35,558 in May to $10,937 in August. The consistency in maintaining a top 10 position, despite the decline, highlights the brand's resilience and established customer base in Michigan.
It is important to note that Michigan Organic Rub did not appear in the top 30 brands in any other states or provinces across the same period. This absence could be interpreted as a missed opportunity for market expansion or a focus on solidifying their presence in Michigan. For stakeholders and potential investors, this information underscores the importance of strategic planning for growth beyond their home state. While the brand has demonstrated stability within Michigan, exploring additional markets could provide avenues for increased visibility and revenue.
Competitive Landscape
In the competitive landscape of the Michigan Topical cannabis market, Michigan Organic Rub has experienced notable fluctuations in rank and sales over the past few months. Despite starting strong in May and June 2024 with a consistent rank of 6th, the brand saw a decline to 9th place in both July and August 2024. This downward trend in ranking correlates with a significant drop in sales, from $35,558 in May to just $10,937 by August. In contrast, competitors like Proper Bakehouse have shown more stability, maintaining a rank of 8th in July and August with relatively steady sales. Meanwhile, HOH Hempnotize demonstrated a notable improvement, climbing from 11th in July to 7th in August, indicating a positive sales trajectory. Northern Connections also displayed a consistent performance, although with a slight drop from 7th in June to 10th in August. The data suggests that while Michigan Organic Rub initially held a strong position, its recent decline in both rank and sales highlights the need for strategic adjustments to regain market share in the competitive Michigan Topical category.
Notable Products
In August 2024, the top-performing products from Michigan Organic Rub were CBD/THC 1:1 Lemon Rub (300mg CBD, 300mg THC) and CBD/THC 1:1 Tangafruit Extra Relief Balm (400mg CBD, 400mg THC, 3oz), both securing the number one rank with notable sales of 89 units each. The CBD/THC 1:5 Coconut Chapstick (10mg CBD, 50mg THC) climbed to the second position from its fourth rank in July. Granola - Honey Vanilla Bites 10-Pack (200mg) ranked third, while CBD:THC 1:1 Muscle Cooling Rub (300mg CBD, 300mg THC) dropped to the fourth position from its second rank in July. These changes highlight a significant shift in consumer preference towards topical products 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.
