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Aug-2024
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Overview
Market Insights Snapshot
In the Michigan market, Pleasantea has shown notable performance within the Beverage category. The brand maintained a steady fifth position in May and June 2024, before climbing to fourth place in July 2024. However, it saw a slight drop back to sixth place in August 2024. This movement suggests that while Pleasantea has a strong foothold in the Michigan market, it faces competitive pressure that impacts its ranking. The sales trend also reflects this dynamic, with a significant increase from May to July 2024, peaking at 101,649 units sold in July before dipping in August. This indicates a high but fluctuating demand for Pleasantea's products in Michigan.
Across other states and provinces, Pleasantea's presence is less pronounced as it did not feature in the top 30 brands for the Beverage category outside of Michigan during these months. This absence highlights areas for potential growth and market penetration for Pleasantea. The brand's performance in Michigan could serve as a benchmark for its expansion strategy, focusing on replicating successful tactics in other regions. The data suggests that while Pleasantea has established a strong niche in Michigan, there is considerable room for growth and improvement in other markets.
Competitive Landscape
In the Michigan beverage category, Pleasantea has experienced notable fluctuations in its ranking over the past few months. Despite a strong performance in July 2024 where it climbed to the 4th position, Pleasantea saw a decline to the 6th spot by August 2024. This shift can be attributed to the consistent performance of competitors such as Highly Casual, which improved its rank from 6th in May 2024 to 4th in August 2024, and Chill Medicated, which moved up from 9th in May 2024 to 7th in August 2024. Additionally, Northern Connections maintained a strong presence, fluctuating between 4th and 6th positions. The competitive landscape indicates that while Pleasantea has shown potential with significant sales peaks, maintaining a top position requires continuous strategic efforts to outperform these well-established brands.
Notable Products
In August 2024, Peach Iced Tea (10mg) emerged as the top-performing product for Pleasantea, moving up from the second position in July 2024 with sales of 7,323 units. Raspberry Iced Tea (10mg), which held the top spot for three consecutive months, dropped to second place with 7,230 units sold. Lemon Iced Tea (10mg) maintained a consistent performance, ranking third in August 2024, the same as in July 2024, with 6,831 units sold. Notably, Peach Iced Tea (10mg) demonstrated significant improvement over the past months, rising from the third position in May and June 2024. Overall, the rankings for these top products have shown dynamic shifts, reflecting changing consumer preferences.
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.
