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Nov-2024
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Overview
Market Insights Snapshot
Petra's performance in the cannabis edibles category has shown varied trends across different states. In California, Petra maintained a steady presence in the rankings, holding the 17th position in both August and September of 2024, before dropping to 20th in October and November. This decline is reflected in their sales figures, which decreased from $371,928 in August to $273,944 by November. Meanwhile, in Michigan, Petra experienced a positive trend, improving its rank from 28th in August to 24th by November. This upward movement is supported by a rise in sales, with November seeing a recovery to $306,126 after a slight dip in the preceding months.
In contrast, Petra's standing in Illinois and Ohio indicates challenges in maintaining a top-tier position. For instance, in Illinois, Petra's rank hovered around the mid-50s, with a slight downward trend from 53rd in August to 59th in November, suggesting limited traction in the market. Ohio presented a similar story, with Petra slipping from 30th to 38th over the same period, accompanied by a significant drop in sales. Notably, in Massachusetts, Petra failed to break into the top 30 rankings by October and November, indicating a potential area for strategic focus. These insights into Petra's performance across states highlight areas of both opportunity and challenge within the edibles category.
Competitive Landscape
In the competitive landscape of the Michigan edible cannabis market, Petra has shown a consistent improvement in its rank over the months from August to November 2024. Starting at rank 28 in August, Petra climbed to rank 24 by November, indicating a positive trajectory in market presence. This upward movement is notable when compared to competitors like Distro 10, which experienced fluctuations, dropping from rank 17 in September to 25 in November. Meanwhile, Mischief maintained a relatively stable position, although it slipped slightly from rank 19 in October to 22 in November. Mitten Extracts also saw a similar pattern, ending at rank 23 in November after a dip in October. Despite these competitors experiencing varied sales trends, Petra's consistent rank improvement suggests a strengthening brand presence and potential for increased sales momentum in the Michigan edible market.
Notable Products
In November 2024, Petra's Moroccan Mints 40-Pack (100mg) maintained its top position as the leading product, despite a drop in sales to 11,402 units. The Tart Cherry Mints 40-Pack (100mg) emerged as a strong performer, climbing from its previous absence in October to secure the second rank with notable sales of 5,696 units. The THC/CBN 2.5:1 Blackberry Mints 40-Pack (100mg THC, 40mg CBN) held steady at third place, consistent with its ranking over the past months. The Pineapple Mints 40-Pack (100mg), which had been consistently second, slipped to fourth place as its sales declined. The Tart Cherry Mints 20-Pack (100mg) maintained its fifth position, showing a significant increase in sales compared to 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.
