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Nov-2024
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Overview
Market Insights Snapshot
NOBO has shown interesting dynamics in its performance across various categories and states. In the Colorado market, NOBO's presence in the Flower category has not been strong enough to break into the top 30 rankings over the past months, indicating potential challenges in this competitive segment. This absence in the rankings suggests that NOBO might need to reassess its strategy in Colorado to gain a foothold in the Flower category. In contrast, the brand has maintained a consistent presence in the Michigan market across multiple categories, which highlights its strategic focus and perhaps a stronger brand resonance in this state.
In Michigan, NOBO's performance in the Edible category is particularly noteworthy, where it has consistently held a top 10 position, moving from 9th to 8th place over the months. This upward trend is indicative of growing consumer preference or effective marketing strategies in the Edible segment. Additionally, the brand's Flower category performance in Michigan has seen a slight fluctuation, with rankings moving from 22nd to 15th and back to 19th, reflecting some volatility but also indicating that NOBO is competitive in this category. Interestingly, NOBO's entry into the Vapor Pens category in Michigan, debuting at 56th and climbing to 47th, suggests a potential growth area for the brand. This movement could be a sign of NOBO's expanding product appeal or an emerging trend in consumer preferences.
Competitive Landscape
In the competitive landscape of the Michigan flower category, NOBO has experienced notable fluctuations in rank over the past few months, which could impact its market positioning and sales strategy. In August 2024, NOBO held a strong position at rank 22, but saw a significant improvement in September, climbing to rank 15. However, by October, NOBO's rank slipped back to 22, before slightly recovering to 19 in November. This pattern suggests a dynamic market environment with intense competition. For instance, LivWell improved its rank from 23 in August to 17 in November, indicating a competitive push that could challenge NOBO's market share. Similarly, Skymint showed a steady upward trend, moving from rank 33 in August to 20 by November, while Goldkine also made significant strides, advancing from rank 36 to 18 in the same period. These movements highlight the need for NOBO to strategize effectively to maintain and enhance its market position amidst rising competition.
Notable Products
In November 2024, NOBO's top-performing product was the THC/CBN 2:1 Purple Pear Sleep Gummies 10-Pack, which reclaimed its number one rank from August and September after dropping to fifth in October. This product achieved impressive sales of 30,853 units. The CBD/THC 1:1 Blackberry Lime Gummies 20-Pack rose to second place, improving from its third-place rank in October. Green Apple Gummies 10-Pack maintained a strong presence, securing the third position after being second in October. Cherry Gummies experienced a decline, falling from first place in October to fourth in November, while Watermelon Gummies 10-Pack entered the rankings at fifth place, showing a resurgence after not being ranked in October.
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.
