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Oct-2024
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Overview
Market Insights Snapshot
Pleasantea's performance in the Michigan market has shown a consistent presence in the Beverage category. Throughout July and August 2024, Pleasantea maintained a solid 6th place ranking, although it experienced a slight drop to the 7th position in September and October. This movement suggests a potential seasonal or competitive impact affecting sales, as evidenced by a noticeable dip in sales figures during September. However, the brand successfully stabilized its rank by October, indicating a possible recovery or adjustment to market conditions.
Interestingly, Pleasantea's absence from the top 30 rankings in other states and categories highlights a significant opportunity for growth and expansion. This lack of presence outside of Michigan could be seen as a challenge or a strategic focus on strengthening its position within the state. The brand's ability to maintain its ranking within the Beverage category in Michigan, despite fluctuations in sales, speaks to its resilience and potential for capturing a larger market share if it chooses to expand its reach beyond its current geographic focus.
Competitive Landscape
In the competitive Michigan beverage category, Pleasantea has maintained a steady presence, consistently ranking at 6th or 7th place from July to October 2024. Despite a notable dip in sales from August to September, Pleasantea's October sales show a recovery, although they remain below the highs seen in July and August. Competitors such as Highly Casual consistently outperform Pleasantea, holding a strong position in the top 5 throughout the same period. Meanwhile, Chill Medicated has shown a positive trend, climbing from 8th to 5th place, surpassing Pleasantea in September and maintaining a lead in October. Armada Cannabis Co. and Ray's Lemonade also present competition, although their rankings fluctuate more significantly. This competitive landscape suggests that while Pleasantea remains a key player, there is room for strategic initiatives to regain higher sales momentum and improve its ranking.
Notable Products
In October 2024, the top-performing product from Pleasantea was Raspberry Iced Tea (10mg) in the Beverage category, reclaiming its number one position with sales of 4924 units. Lemon Iced Tea (10mg) followed closely in second place, having dropped from the top spot it held in September. Peach Iced Tea (10mg) maintained a steady presence by ranking third, though it saw a slight decline in sales compared to previous months. Peach Iced Tea (30mg) and Raspberry Iced Tea (30mg) held the fourth and fifth positions, respectively, showing consistent sales performance across the months. Notably, Raspberry Iced Tea (10mg) has shown resilience, moving back to the top after a dip in the previous two 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.
