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Dec-2024
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Overview
Market Insights Snapshot
Terpene Tanks has demonstrated a notable fluctuation in their performance across different categories and states over the last few months. In the state of Michigan, the brand has shown a promising upward trend in the Pre-Roll category. Starting from a rank of 30 in September 2024, they improved to rank 24 by December 2024, indicating a growing consumer preference for their offerings in this category. This positive movement is complemented by a steady increase in sales, from $336,403 in September to $318,608 in December, suggesting a robust demand despite the competitive market landscape.
Conversely, Terpene Tanks has experienced a downward trajectory in the Vapor Pens category within Michigan. The brand's rank dropped from 13 in September to 26 in December, reflecting a significant decline in their market positioning. This decrease in rank is mirrored by a substantial reduction in sales over the same period, highlighting potential challenges in maintaining consumer interest or facing increased competition. The absence of a top 30 ranking in other states and categories could indicate areas where the brand might focus on improving its market penetration or product offerings.
Competitive Landscape
In the Michigan vapor pens market, Terpene Tanks has experienced a notable decline in its competitive standing from September to December 2024, with its rank dropping from 13th to 26th. This downward trend in rank is mirrored by a significant decrease in sales, indicating potential challenges in maintaining market share. In contrast, competitors such as Magic have shown more resilience, initially improving their rank from 20th in September to 16th in November, although they too faced a decline to 24th by December. Meanwhile, Dragonfly Cannabis maintained a relatively stable position, hovering around the 21st to 25th ranks, suggesting a steadier performance compared to Terpene Tanks. Additionally, Giggles made a significant leap from 50th in September to 28th by December, indicating a strong upward trajectory that could pose a competitive threat. These dynamics highlight the competitive pressures Terpene Tanks faces in maintaining its market position amid fluctuating performances by its peers.
Notable Products
In December 2024, Lemon Headband Infused Pre-Roll (1.2g) emerged as the top-performing product for Terpene Tanks, reclaiming its number one rank from September after a dip to second place in November, with notable sales of 22,474 units. Mai Tai Jack Live Resin Infused Pre-Roll (1.2g) followed closely in the second position, having previously held the top spot in November. Ice Cream Cookies Infused Pre-Roll (1.2g) secured the third rank, showing a steady rise from fifth place in September and first in October. Cherry Gushers Infused Pre-Roll (1.2g) made a notable entry into the rankings at fourth place in December, having been unranked in October and November. Apple Fritter Live Resin Infused Pre-Roll (1.2g) consistently maintained its presence in the top five, ranking fifth in December, following its debut at the second spot 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.
