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Oct-2024
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Overview
Market Insights Snapshot
Neno's Naturals has shown a consistent performance in the Michigan market, particularly in the Tincture & Sublingual category. Over the past few months, the brand has maintained a steady presence, ranking 6th in both August and October 2024, with a slight dip to 7th in July and September. This suggests a stable demand for their products in this category, despite fluctuations in sales figures, such as a dip in September. The ability to remain in the top 10 within a competitive market highlights the brand's strong positioning and consumer loyalty.
In the Topical category, Neno's Naturals has also demonstrated resilience and consistency in Michigan. The brand maintained a 6th place ranking in July, August, and October, with a minor drop to 7th in September. This steady performance, despite a gradual decline in sales from July to October, indicates that while there may be external pressures on sales volume, the brand's market presence remains robust. Notably, maintaining a top 10 ranking across multiple months in the same state shows the brand's strong foothold and potential for growth in other categories or states.
Competitive Landscape
In the competitive landscape of Michigan's topical cannabis market, Neno's Naturals has maintained a relatively stable presence, ranking 6th in July, August, and October 2024, with a slight dip to 7th in September. This consistency in rank suggests a steady customer base, although the brand's sales have shown a gradual decline over the months, indicating potential challenges in maintaining market share. In contrast, Rise (MI) has consistently held the 4th position, with significantly higher sales figures, suggesting a strong brand loyalty or superior market penetration. Meanwhile, Vlasic Labs has also maintained a stable 5th rank, with sales figures that, while lower than Rise, still surpass those of Neno's Naturals. Interestingly, Michigan Organic Rub experienced a notable improvement in rank from 9th in August to 6th in September, although it fell out of the top 20 by October, highlighting the volatility and competitive nature of this market segment. These dynamics underscore the importance for Neno's Naturals to innovate and possibly re-evaluate its marketing strategies to enhance its competitive edge and reverse the downward sales trend.
Notable Products
In October 2024, the top-performing product for Neno's Naturals was the THC Transdermal Patch (30mg), maintaining its first-place ranking from previous months, despite a decline in sales to $3,234. The CBD/THC 3:1 Calm Transdermal Patch (30mg CBD, 10mg THC) rose to second place, showing a significant increase in sales compared to September 2024. The CBD/THC 1:1 Balance Transdermal Patches (15mg CBD, 15mg THC) dropped to third place after being second in September, but still showed strong sales momentum. The CBD/THC 3:1 CBD Sweet Mint Calm Tincture (150mg CBD, 50mg THC) remained steady in fourth place, maintaining consistent sales over the months. Finally, the Lavender Tincture (200mg) re-entered the rankings at fifth place, showing an increase in sales from August 2024.
```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.
