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Jun-2024
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Overview
Market Insights Snapshot
Banned Cannabis Edible Co. has shown a steady presence in the Michigan market, particularly in the Edible category. Despite some fluctuations, the brand has consistently ranked within the top 30 brands, indicating a stable performance. Notably, the brand ranked 18th in both March and May of 2024, with a slight dip to 21st in April and 20th in June. This suggests a resilient market position amid competitive pressures. The sales figures reflect this trend, with a peak in March and a slight decline in subsequent months, yet maintaining a strong foothold in the market.
However, the performance of Banned Cannabis Edible Co. outside of Michigan is not highlighted, which could imply either a focused market strategy or potential areas for growth. The absence of rankings in other states or provinces within the top 30 could be seen as a missed opportunity or a deliberate concentration on a single market. This selective presence can offer insights into the brand's strategic priorities and market dynamics, providing a nuanced understanding of its competitive positioning in the cannabis edibles segment.
Competitive Landscape
Banned Cannabis Edible Co. has experienced fluctuating rankings in the Michigan edible market over the past few months, reflecting a competitive landscape. In March 2024, Banned Cannabis Edible Co. was ranked 18th, but it dropped to 21st in April before rebounding to 18th in May and then falling to 20th in June. This volatility contrasts with competitors like Cannalicious Labs, which maintained a more stable presence, consistently ranking around 19th. Meanwhile, True North Collective saw a significant decline from 9th in March to 21st in June, indicating a potential opportunity for Banned Cannabis Edible Co. to capture market share. Ozone also showed some inconsistency, missing the top 20 in April but recovering to 18th in June. Lastly, Little Tree experienced a downward trend, dropping from 13th in March to 22nd in June. These dynamics suggest that while Banned Cannabis Edible Co. faces stiff competition, there are opportunities to improve its market position by capitalizing on the instability of its rivals.
Notable Products
For Jun-2024, the top-performing product from Banned Cannabis Edible Co. is Blueberry Cluster Gummies 4-Pack (200mg), which maintained its first-place position with notable sales of $10,168. Berry Melon Nerdless Gummies 4-Pack (200mg) followed in second place, showing a consistent rise from fifth place in Apr-2024 and first in May-2024. Grape Cluster Gummies 4-Pack (200mg) secured the third position, re-entering the rankings after not being listed in May-2024. Lemonade Cluster Gummies 4-Pack (200mg) and Watermelon Cluster Gummies 4-Pack (200mg) held steady in fourth and fifth places respectively, mirroring their positions from May-2024. Overall, the rankings indicate a strong performance for Blueberry Cluster Gummies, while other products showed varying degrees of stability and improvement.
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