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Aug-2024
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Overview
Market Insights Snapshot
Mojo (Edibles) has experienced some fluctuations in its performance across different states and categories. In Michigan, the brand has maintained a presence in the top 30 for the Edible category, though its ranking has seen a slight decline. Starting at the 24th position in May 2024, Mojo (Edibles) held steady in June before moving up to 23rd in July. However, by August, the brand slipped to the 28th spot. This downward trend could be indicative of increasing competition or shifting consumer preferences within the state. Despite the drop in ranking, the brand's ability to stay within the top 30 suggests a consistent consumer base in Michigan.
On the sales front, Mojo (Edibles) has shown a gradual decrease in monthly sales figures in Michigan. From $354,593 in May 2024, sales dipped to $301,863 by August 2024. This decline in sales corresponds with the downward movement in rankings, highlighting a potential challenge for the brand to retain its market share. Interestingly, the steady rank in June and the slight improvement in July suggest that there might have been efforts to stabilize or boost performance, though these were not sustained into August. The absence of Mojo (Edibles) from the top 30 in other states or categories during these months also underscores the competitive nature of the cannabis edibles market.
```Competitive Landscape
In the competitive landscape of the Michigan edible cannabis market, Mojo (Edibles) has shown fluctuating performance over the past few months. Notably, Mojo (Edibles) maintained a steady rank of 24 in May and June 2024, slightly improving to 23 in July, but then dropping to 28 in August. This decline in rank coincides with a noticeable dip in sales from $346,782 in July to $301,863 in August. In contrast, Treetown has consistently ranked lower, hovering around the 30-32 range, yet it experienced a minor sales increase in August. Sauce Essentials also saw a decline in rank and sales, indicating a broader market challenge. Meanwhile, Distro 10 and Petra have shown positive trends, with Distro 10 climbing from rank 46 in May to 26 in August and Petra improving from 32 to 27 in the same period. These competitors' upward trajectories could be contributing to the pressure on Mojo (Edibles), highlighting the need for strategic adjustments to regain market share and improve sales performance in Michigan's competitive edible category.
Notable Products
For August 2024, the top-performing product from Mojo (Edibles) is Nuggy Caramel Peanut Bites Chocolates 10-Pack (200mg), maintaining its first-place ranking from July with sales of 3949 units. The Caramel Filled Chocolate Bites 10-Pack (200mg) climbed to the second spot, showing a notable improvement from its third-place ranking in July. Peanut Butter Chocolate Mini Bites 10-Pack (200mg) dropped to third place from its previous second-place position. Cookies & Cream Chocolate Bites (200mg) secured the fourth spot, consistent with its ranking in June. Choco Gummies - Blueberry Dark Chocolate Gummies 10-Pack (200mg) entered the top five for the first time 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.
