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Oct-2024
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Overview
Market Insights Snapshot
The performance of Treetown across various categories in Michigan showcases a mix of stability and challenges. In the Edible category, Treetown has seen a gradual decline in its rankings from July to October 2024, starting at 31st and dropping out of the top 30 by October. This downward trend is accompanied by a decrease in monthly sales, highlighting potential challenges in maintaining consumer interest or facing increased competition. On the other hand, the Tincture & Sublingual category paints a different picture. Treetown has maintained a strong presence, holding the top rank in July and then stabilizing at the second position from August through October. This consistency suggests a strong consumer preference or effective brand strategy in this category.
Interestingly, the contrasting performance across these categories in Michigan suggests that Treetown may need to reassess its strategies in the Edible segment while capitalizing on its strengths in Tincture & Sublinguals. The absence of Treetown from the top 30 in the Edible category by October could indicate a significant shift in market dynamics or consumer preferences that the brand needs to address. Meanwhile, the sustained high ranking in Tincture & Sublinguals points to successful engagement with consumers, possibly through product quality or targeted marketing efforts. These insights could serve as a focal point for Treetown's strategic planning in the coming months, especially if they aim to regain their standing in the Edible market.
Competitive Landscape
In the Michigan edible cannabis market, Treetown has experienced a notable decline in its competitive standing over the past few months. Starting from a rank of 31 in July 2024, Treetown slipped to 37 by October 2024, indicating a downward trend in its market position. This decline is contrasted by the relatively stable performance of competitors like Kiva Chocolate and Platinum Vape, which maintained ranks within the mid-30s range, suggesting they have been able to retain their market share more effectively. Interestingly, Galactic also showed a similar downward trajectory, ending at rank 38 in October, which could indicate broader market shifts affecting multiple brands. Despite these challenges, Treetown's sales figures, although declining, remain competitive, hinting at potential for recovery if strategic adjustments are made. This competitive landscape underscores the importance of adaptive marketing strategies to regain and sustain market position in Michigan's dynamic edible category.
Notable Products
In October 2024, the top-performing product for Treetown was the Sleep - CBN/THC 2:1 Blackberry Lavender Gummies 10-Pack, maintaining its consistent number one ranking since July 2024, with sales of 4424 units. The Sativa Blue Raspberry Gummies 10-Pack held its position at second place, showing a steady climb from fourth in July to second in August. The Standard Fruit Punch Gummies 10-Pack remained in third place, consistent with its ranking from September. The Sativa Peach Gummies 10-Pack showed a slight improvement, moving from fifth in July to fourth in October. A new entry into the top five was the Cherry Gummies 10-Pack, debuting at fifth place 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.
