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Nov-2024
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Overview
Market Insights Snapshot
Terpene Tanks has demonstrated varying performance across different product categories in Michigan. In the Pre-Roll category, the brand showed a positive trend over the past few months, moving up from the 30th position in October 2024 to 26th in November 2024. This indicates a strengthening presence in the Pre-Roll market, which is supported by a slight increase in sales from October to November. However, the brand's Vapor Pens category tells a different story, with a noticeable decline from the 11th position in August to the 20th position by November 2024. This decline in ranking corresponds with a consistent decrease in sales figures over the months, suggesting challenges in maintaining their competitive edge in this popular category.
Interestingly, Terpene Tanks' performance in the Vapor Pens category highlights a significant shift in consumer preferences or competitive dynamics within Michigan. While they managed to stay within the top 30 brands for Vapor Pens, the downward trend in rankings indicates potential areas for improvement or strategic realignment. On the other hand, maintaining a steady rank in the Pre-Roll category, despite fluctuating sales, suggests a stable consumer base or effective brand loyalty efforts. These insights into Terpene Tanks' performance across categories emphasize the importance of adapting to market trends and consumer behaviors to sustain growth and competitiveness.
Competitive Landscape
In the competitive landscape of vapor pens in Michigan, Terpene Tanks has experienced a notable decline in rank and sales from August to November 2024. Initially holding the 11th position in August, Terpene Tanks dropped to 20th by November, indicating a significant shift in market dynamics. This downward trend contrasts with competitors like North Cannabis Co., which improved its rank from 29th to 21st during the same period, and Dragonfly Cannabis, which maintained a stable presence around the 19th position. Meanwhile, High Minded showed fluctuations but ended stronger in November, ranking 18th. Terpene Tanks' sales figures also reflect this downward trajectory, with a significant decrease from August's peak, while brands like Dragonfly Cannabis saw an upward trend in sales. This suggests that Terpene Tanks may need to reassess its market strategies to regain its competitive edge in Michigan's vapor pen category.
Notable Products
In November 2024, Mai Tai Jack Live Resin Infused Pre-Roll (1.2g) emerged as the top-performing product for Terpene Tanks, achieving the number one rank with sales of 26,684 units. Previously ranked third in October 2024, this product saw a significant rise in its ranking. Lemon Headband Infused Pre-Roll (1.2g), which held the top spot in September, slipped to the second position. Kiwi Kush Infused Pre-Roll (1.2g) maintained its upward trajectory, moving from an unranked position in October to third in November. Grape Dosi Infused Pre-Roll (1g) debuted in the rankings at fourth place, indicating strong market entry.
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.
