Apr-2024
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Overview
Market Insights Snapshot
In the competitive cannabis market of Michigan, Mitten Extracts has shown a varied performance across different product categories. In the Vapor Pens category, Mitten Extracts has maintained a dominant position, consistently ranking 1st from January to April 2024. This top spot is indicative of the brand's strong market presence and consumer preference in this category, underscored by a notable sales figure of $5,600,746 in January 2024 alone. However, their performance in the Edibles and Pre-Roll categories tells a different story. Despite a slight improvement in the Edibles category from 20th in January to 18th in February, the brand saw a decline to 22nd in March before slightly recovering to 21st in April. The Pre-Roll category witnessed a significant fluctuation, with rankings moving from 52nd in January to 33rd in February, reaching 30th in March, but then dropping again to 42nd in April. These movements highlight the challenges Mitten Extracts faces in these categories and suggest areas for potential growth and improvement.
While Mitten Extracts excels in the Vapor Pens category, their inconsistent rankings in the Edibles and Pre-Roll sectors within Michigan reflect the competitive nature of the cannabis market and the diverse consumer preferences across product types. The improvement in the Pre-Roll category from January to March 2024 indicates a growing interest or strategic adjustments by Mitten Extracts that resonated with consumers, though the subsequent drop in April suggests there's still work to be done to maintain upward momentum. On the other hand, the slight fluctuations in the Edibles category rankings point to a more stable yet challenging position, where minor improvements are overshadowed by the competitive pressures. For Mitten Extracts, focusing on these areas of volatility and leveraging their strong performance in Vapor Pens could provide strategic pathways to bolster their market presence across categories in Michigan.
Competitive Landscape
In the competitive landscape of the Vapor Pens category in Michigan, Mitten Extracts has maintained its leading position from January to April 2024, consistently ranking number one among its competitors. This dominance is evident when compared to its closest competitors, Breeze Canna and Drip (MI). Breeze Canna, holding the second position throughout the same period, shows a significant gap in sales, although it has seen a consistent increase, indicating a strong but not overtaking presence. Drip (MI), fluctuating between the fourth and third ranks, demonstrates a resilient performance with a notable uptick in April, moving ahead of its previous position. The consistent top ranking of Mitten Extracts in such a competitive market underscores its strong market presence and consumer preference in Michigan's Vapor Pens category, despite the upward trajectories and strategic movements of its competitors.
Notable Products
In April 2024, Mitten Extracts saw Strawberry Gummies 10-Pack (200mg) from the Edible category retain its top position with sales figures reaching 25,366 units, showcasing consistent consumer preference. The London Pound Cake Distillate Cartridge (1g) from the Vapor Pens category made a significant entry at rank 2, indicating a strong market debut. Following closely, Thin Mint Cookies Distillate Cartridge (1g) also from Vapor Pens, secured the third position, highlighting the category's popularity. Purple Punch Distillate Cartridge (1g) experienced a shift from being the top product in February to ranking fourth in April, demonstrating fluctuating consumer interests. Lastly, Lush Watermelon Gummies 10-Pack (200mg) maintained its position in the top five, underscoring a stable demand for Edible products within Mitten Extracts' range.