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Oct-2024
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Overview
Market Insights Snapshot
Rise (MI) has demonstrated a strong performance in the Michigan market, particularly in the Capsules and Tincture & Sublingual categories. In Capsules, Rise maintained a leading position, holding the top rank in July and August 2024, before moving to second place in September and October. Despite this slight dip in ranking, the brand's sales figures showed a notable increase in September, suggesting a robust demand. In the Tincture & Sublingual category, Rise consistently held the number one position from August through October, highlighting its dominance and appeal in this segment. The sustained top ranking in Tincture & Sublingual is complemented by a steady upward trend in sales, indicating a strong consumer preference for Rise's offerings in this category.
In contrast, Rise's performance in the Concentrates category in Michigan has seen significant improvement over the months. Starting from a rank of 48 in July, the brand climbed to the 28th position by October, marking a positive trajectory. This upward movement is reflected in the sales growth, particularly in October, suggesting an increasing market penetration and acceptance. However, in the Topical category, Rise maintained a consistent rank of 4 throughout the observed period, which indicates stability but also highlights a potential area for growth. The absence of a top 30 ranking in some categories could be viewed as a challenge, but also as an opportunity for Rise to explore and expand its market presence further.
Competitive Landscape
In the Michigan concentrates market, Rise (MI) has shown a notable upward trajectory in its ranking over the past few months, moving from 48th place in July 2024 to 28th place by October 2024. This improvement in rank reflects a positive trend in sales, with a significant increase observed from August to October. In comparison, Fresh Coast has also made impressive gains, rising from 56th to 29th place, closely trailing Rise (MI) in October. Meanwhile, Strait-Fire experienced a decline, dropping from 19th to 26th, which could indicate a shift in consumer preference towards brands like Rise (MI) and Fresh Coast. Dabs & Doses and Feefers have shown fluctuations, with Feefers maintaining a relatively stable position close to Rise (MI) by October. These dynamics suggest that Rise (MI) is effectively capturing market share in a competitive landscape, with its sales performance outpacing several rivals, potentially due to strategic marketing efforts or product innovations.
Notable Products
In October 2024, the top-performing product for Rise (MI) was the Hybrid Distillate Dart (1g) from the Concentrates category, which climbed to the first position, showing a significant increase in sales to 2014 units. The CBD/THC/THCa 1:2:1 Advanced Strength Cream maintained a strong performance, holding the second rank with notable sales growth to 1796 units. The CBN:CBD THC 1:1:1 PM Evening Tincture remained steady at the third position, reflecting consistent demand with sales reaching 1702 units. The THC:THCa:CBG 1:1:1 Rise AM Tincture saw an improvement, moving from fifth to fourth place, indicating rising popularity. Notably, the Hybrid RSO Dart (1g) did not rank in October, suggesting a shift in consumer preference towards other products.
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.
