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Oct-2024
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Overview
Market Insights Snapshot
Midnight Bar has shown a notable upward trajectory in the Edible category within the state of Michigan. Over the past few months, the brand has improved its ranking from not being in the top 30 in July and August to securing the 28th spot in September and further climbing to 24th in October. This positive movement in rankings is accompanied by a steady increase in sales, with October seeing a significant boost compared to previous months. The data suggests that Midnight Bar is gaining traction and popularity in the Michigan edibles market, which could be indicative of successful marketing strategies or consumer preference shifts towards their products.
While the performance in Michigan's Edible category is encouraging, it is important to note that Midnight Bar does not appear in the top 30 rankings for other states or categories during this period, which could be a point of concern or an opportunity for growth. The absence from the top 30 in other regions suggests that Midnight Bar's market penetration might be more limited geographically, or it may face stronger competition elsewhere. This regional performance disparity highlights the potential for Midnight Bar to explore strategic expansions or adjustments in other states to replicate their success in Michigan.
Competitive Landscape
In the competitive landscape of the Michigan edible market, Midnight Bar has shown a notable upward trajectory in recent months. Starting from a rank of 32 in July 2024, Midnight Bar has climbed to 24 by October 2024, indicating a positive shift in market positioning. This improvement in rank is accompanied by a significant increase in sales, suggesting a growing consumer preference for their offerings. In contrast, Mojo (Edibles) experienced a slight decline in rank from 21 to 23 during the same period, with a corresponding decrease in sales. Similarly, High Minded saw a drop in rank from 14 to 22, reflecting a downward trend in consumer interest. Meanwhile, Distro 10 has shown fluctuating performance, peaking at rank 17 in September before falling back to 26 in October. Interestingly, Alien Brainz made a remarkable leap from rank 46 in August to 25 in October, indicating a resurgence in market presence. These dynamics highlight Midnight Bar's strategic advancements in the Michigan edible category, positioning them favorably against competitors.
Notable Products
In October 2024, Midnight Bar's top-performing product was the Full Moon - Milk Chocolate Bar (200mg), maintaining its number one rank from September with a notable sales figure of 9,986 units. The Full Moon - Strawberry Milkshake Chocolate Coin (200mg) climbed to the second position, showcasing a significant increase in sales compared to previous months. The Full Moon - Thin Mint Dark Chocolate (200mg) slipped to third place, after leading in August. Meanwhile, the Full Moon - Rich Dark Chocolate (200mg) showed a consistent performance, securing the fourth spot, while the Full Moon - Orange Milk Chocolate (200mg) remained steady at fifth. This month saw a reshuffling in rankings, with the Milk Chocolate Bar consistently rising to the top since July.
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.
