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Nov-2024
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Overview
Market Insights Snapshot
In the state of Michigan, Monster Xtracts has shown varied performance across different product categories. In the Concentrates category, the brand experienced fluctuations in its rankings, starting at 28th place in August 2024 and slipping out of the top 30 in September. It managed to regain some ground in October and November, finishing at 36th and 35th, respectively. This indicates a struggle to maintain a consistent presence in the Concentrates market, which could be a reflection of either increased competition or shifts in consumer preferences. On the sales front, the brand's Concentrates saw a decline in November compared to October, suggesting potential challenges in sustaining consumer interest or market share.
Conversely, Monster Xtracts has maintained a strong and steady performance in the Edibles category within Michigan. The brand consistently held the 7th position from August through November 2024, showcasing its solid foothold and consumer loyalty in this segment. Despite the stability in rankings, there was a notable increase in sales from October to November, indicating a positive reception from consumers and possibly successful marketing strategies or product innovations. This consistent performance in Edibles could serve as a strategic advantage for Monster Xtracts as it navigates the competitive landscape of the cannabis market.
Competitive Landscape
In the competitive landscape of the Michigan edible cannabis market, Monster Xtracts has maintained a consistent rank of 7th place from August to November 2024. Despite this steady position, the brand faces stiff competition from other notable players. For instance, Wana has fluctuated between 4th and 6th place, indicating a slight decline in rank but still maintaining a higher position than Monster Xtracts. Meanwhile, Play Cannabis has shown resilience, moving up to 5th place in November, surpassing Monster Xtracts. Additionally, Detroit Edibles / Detroit Fudge Company and NOBO have been close competitors, with ranks fluctuating around the 8th and 9th positions, respectively. Although Monster Xtracts' sales have shown some recovery in November, the brand's consistent rank suggests a need for strategic initiatives to climb higher in the competitive hierarchy.
Notable Products
In November 2024, the top-performing product for Monster Xtracts was Monster Medibles - Blue Raspberry Gummies 10-Pack (200mg), which regained its number one spot after ranking third in the previous two months, with notable sales of 20,840 units. Monster Medibles - Tropical Thunder High Dose Gummies 10-Pack (200mg) maintained a strong presence, ranking second, though it slipped from its top position in September and October. Monster Medibles - Raspberry Lemonade Gummies 10-Pack (200mg) made a significant jump to third place from fourth in October, continuing its upward trend. Hybrid Cherry Bomb Single Blaster Naut Gummy (200mg) dropped to fourth, despite consistently holding the second position in the prior months. New to the rankings, Monster Medibles - Blueberry Gummies 20-Pack (200mg) entered the list at fifth place, highlighting its growing popularity.
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.
