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Sep-2024
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Overview
Market Insights Snapshot
NOBO has demonstrated a notable performance in the Michigan market, particularly in the Edible category. Over the span from June to September 2024, NOBO has seen a consistent upward trajectory, moving from the 11th rank to the 8th position. This improvement is backed by a steady increase in sales figures, indicating a growing consumer preference for their edible products. In contrast, the Flower category presents a different story, where NOBO's ranking has dropped significantly from 19th in June to 80th by September. This decline suggests potential challenges in maintaining competitiveness or shifts in consumer demand within this category.
The Vapor Pens category in Michigan also highlights an area for potential concern, as NOBO did not appear in the top 30 rankings for August and September. This absence from the rankings could indicate a need for strategic adjustments or marketing efforts to regain traction. It's worth noting that while NOBO has shown strength in edibles, the fluctuations in other categories suggest a complex market dynamic where consumer preferences are rapidly evolving. These insights underscore the importance of continuous market analysis to identify opportunities and address challenges across different product lines.
Competitive Landscape
In the competitive landscape of the Michigan edible cannabis market, NOBO has demonstrated a promising upward trajectory in its rankings over the past few months. Starting from the 11th position in June 2024, NOBO climbed to the 8th rank by September 2024, indicating a consistent improvement in its market presence. This advancement is particularly noteworthy when compared to competitors like Dixie Elixirs, which experienced a decline from 7th to 10th place, and Good Tide, which saw fluctuations, ultimately dropping from 7th to 9th. Meanwhile, Wana maintained a strong position, consistently ranking within the top 6, and Monster Xtracts showed a stable performance, holding the 7th spot in September. Despite facing fierce competition, NOBO's sales figures have shown a steady increase, suggesting that its strategic initiatives are resonating well with consumers, thereby enhancing its competitive standing in the Michigan market.
Notable Products
In September 2024, the top-performing product for NOBO was the THC/CBN 2:1 Purple Pear Sleep Gummies 10-Pack, which ascended to the number one rank with impressive sales of 24,365 units. The Cherry Gummies 200mg, which had consistently held the top spot from June to August, moved to the second position in September. Watermelon Gummies 10-Pack maintained a stable performance, remaining in third place for the month. Green Apple Gummies 10-Pack, which had been gradually declining, settled at the fourth rank. Balance Vanilla Mint Gummies 10-Pack re-entered the rankings at fifth place, showing a notable increase in sales from previous months.
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.
