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Oct-2024
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Overview
Market Insights Snapshot
Monster Xtracts has shown varied performance across different categories and states, with notable movements in the Michigan market. In the Concentrates category, the brand experienced fluctuations in its rankings, starting at 42nd in July 2024, climbing to 27th in August, but then dropping to 38th and 40th in the subsequent months. This indicates a volatile position in the Concentrates market, suggesting potential challenges in maintaining a stable foothold. The fact that Monster Xtracts was not in the top 30 for some months could be seen as a negative indicator, emphasizing the competitive nature of this category in Michigan.
Conversely, Monster Xtracts has maintained a more consistent presence in the Edible category in Michigan. The brand held a strong position, ranking 8th in July, improving to 7th in August and September, before returning to 8th in October 2024. This consistency suggests a solid consumer base and effective market strategies within the Edible category. The sales figures reflect this stability, with sales remaining robust throughout the months, peaking in August. Such performance highlights the brand's strength in the Edibles market, contrasting with the less stable performance seen in Concentrates.
Competitive Landscape
In the Michigan edible market, Monster Xtracts has shown a relatively stable performance over the past few months, maintaining a rank within the top 10. Despite a slight dip from 7th to 8th place in October 2024, Monster Xtracts remains a strong contender, with sales figures consistently surpassing those of competitors like NOBO and Detroit Edibles / Detroit Fudge Company. However, it faces stiff competition from Play Cannabis, which consistently ranks higher, and Good Tide, which has seen a downward trend in rankings, potentially opening opportunities for Monster Xtracts to capture more market share. The competitive landscape suggests that while Monster Xtracts is holding its ground, strategic efforts could be made to climb the ranks and close the gap with top performers.
Notable Products
In October 2024, Monster Xtracts saw its top-performing product as Monster Medibles - Tropical Thunder Gummies 20-Pack (200mg) maintaining its number one rank from the previous month, with sales reaching 16,651 units. Monster Medibles - Blue Raspberry Gummies 10-Pack (200mg) held steady at the second position, showing consistent performance after a slight dip in September. Hybrid Cherry Bomb Single Blaster Naut Gummy (200mg) remained in third place, experiencing an increase in sales from the previous month. Monster Medibles - Raspberry Lemonade Gummies 10-Pack (200mg) re-entered the rankings at fourth place, recovering from an absence in September. Indica Blue Razz Bang! Single Blaster Naut Gummy (200mg) rounded out the top five, showing a steady climb from its fourth place in September.
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.
