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Oct-2024
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Overview
Market Insights Snapshot
In the state of Michigan, Wojo Co has shown a notable performance in the Concentrates category. The brand consistently maintained a presence in the top 10 rankings over the last four months, with its position fluctuating slightly but remaining strong, peaking at 5th place in August 2024. This stability in ranking is indicative of a solid market presence and consumer preference in this category. However, the scenario is different for Pre-Rolls, where Wojo Co has not managed to break into the top 30 rankings, suggesting potential challenges or limited market penetration in this segment. Their absence from the top 30 could be seen as an area for potential growth or a need for strategic adjustments.
In the Vapor Pens category, Wojo Co has shown some positive movement, starting from a rank of 59 in July 2024 and improving to 44 by September 2024, before slightly dropping to 52 in October. This upward trend, despite the slight dip in October, suggests a growing acceptance and increasing sales in this category, although they still have some way to go to reach the top tier. The brand's ability to climb the rankings in Vapor Pens could be a signal of effective marketing or product innovation strategies. The fluctuations in rankings across categories highlight both the competitive nature of the cannabis market in Michigan and the varied consumer preferences that Wojo Co is navigating.
Competitive Landscape
In the Michigan concentrates market, Wojo Co has demonstrated a consistent performance with its rank fluctuating between 5th and 8th place from July to October 2024. This stability is noteworthy, especially when compared to competitors like Traphouse Cannabis Co., which saw a more volatile ranking, dropping to 8th in August before recovering to 5th in October. Meanwhile, Rkive Cannabis made a significant leap from 14th in September to 4th in October, suggesting a sharp increase in sales momentum. Distro 10 maintained a strong presence, though it experienced a slight decline in October, moving from 5th to 7th place. Bamn also showed improvement, climbing from 17th in September to 8th in October. Wojo Co's ability to maintain a mid-tier ranking amidst these shifts indicates a steady market presence, though the rise of Rkive Cannabis could pose a competitive challenge if the trend continues.
Notable Products
In October 2024, Wojo Co's top-performing product was Strawberry Candy Live Rosin (1g) in the Concentrates category, achieving the number one rank with sales of 895 units. Donny Double Live Rosin (1g) followed closely in second place, maintaining a strong position from September when it was ranked first. Runtz Live Rosin (1g) secured the third spot, while Tangerine Limousine Live Rosin (1g) improved its ranking to fourth from being unranked in September. Beach Wedding Live Rosin (1g) entered the top five for the first time, landing in the fifth position. Notably, Tangerine Limousine Live Rosin (1g) showed a significant jump in rankings, moving from fifth in August to fourth 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.
