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Oct-2024
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Overview
Market Insights Snapshot
In the state of Michigan, Terpene Tanks has shown a notable upward trajectory in the Pre-Roll category. Starting from a rank of 59 in July 2024, the brand climbed to the 30th position by September and maintained this ranking in October. This consistent improvement suggests that Terpene Tanks is gaining traction and consumer interest in this category. The sales figures support this trend, with a more than doubling of sales from July to August, and maintaining robust numbers through October. However, it's worth noting that the brand's absence from the top 30 prior to September indicates there was significant ground to cover in this competitive market segment.
Conversely, in the Vapor Pens category in Michigan, Terpene Tanks experienced a downward movement in rankings, slipping from the 10th position in July to 16th by October. This decline suggests increased competition or a shift in consumer preferences within the category. Despite this drop, the brand's sales figures remained substantial, hinting at a solid customer base. The decrease in sales from July to October might indicate challenges in sustaining growth or adapting to market dynamics. The brand's presence in the top 30 throughout these months, however, underscores its established position in the Vapor Pens category, even amid fluctuations.
Competitive Landscape
In the competitive landscape of vapor pens in Michigan, Terpene Tanks has experienced a notable decline in its ranking from July to October 2024, dropping from 10th to 16th place. This downward trend in rank is mirrored by a decrease in sales, indicating potential challenges in maintaining market share. In comparison, STIIIZY has shown a relatively stable performance, maintaining a position around 12th to 14th place, despite a slight dip in sales. Meanwhile, Sauce Essentials has demonstrated resilience, improving its rank to 13th in September before settling at 15th in October, with sales figures that suggest a stronger market presence than Terpene Tanks. Additionally, Magic and Traphouse Cannabis Co. have shown fluctuating ranks, with Magic slightly outperforming Traphouse Cannabis Co. in October. These dynamics highlight the competitive pressures Terpene Tanks faces, suggesting a need for strategic adjustments to regain its footing in the Michigan vapor pens market.
Notable Products
In October 2024, the top-performing product for Terpene Tanks was Apple Fritter Live Resin Infused Pre-Roll (1.2g) in the Pre-Roll category, which climbed to the number one spot from its previous rank of three in September. Jealousy Runtz Distillate Cartridge (1g) in the Vapor Pens category secured the second position, improving from its previous absence in September. Strawberry Diesel Distillate Cartridge (1g) maintained a strong presence, ranking third with a notable sales figure of 13,375. Sour Jack Distillate Cartridge (1g) re-entered the rankings at fourth place, while Kiwi Kush Infused Pre-Roll (1g) debuted in the fifth position. These shifts in rankings highlight a dynamic change in consumer preferences, particularly within the Pre-Roll and Vapor Pens categories.
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.
