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Aug-2024
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Overview
Market Insights Snapshot
Bowhouse has shown a varied performance across different categories and states in recent months. In the Michigan market, their performance in the Concentrates category has seen significant fluctuations. Notably, they climbed from a rank of 9 in May 2024 to 6 in June 2024, suggesting a strong initial momentum. However, this was followed by a steep decline to rank 20 by August 2024, indicating potential challenges in maintaining their market position. Similarly, in the Vapor Pens category, Bowhouse started at rank 63 in May 2024 but failed to stay in the top 30 by August 2024, which could be a cause for concern regarding their competitiveness in this segment. Their absence from the top 30 in the Flower category throughout these months further emphasizes the mixed performance and potential areas for improvement.
While Bowhouse's sales in Concentrates experienced a peak in June 2024 with $468,923, the subsequent drop to $218,502 by August 2024 highlights a need for strategic adjustments to sustain growth. The Vapor Pens category also reflects a downward trend, with sales plummeting from $116,298 in May 2024 to zero by August 2024, suggesting a significant loss of market share. The brand's inability to secure a top 30 position in the Flower category during these months in Michigan indicates that Bowhouse might need to re-evaluate their offerings or marketing strategies in this highly competitive space. These trends provide a snapshot of Bowhouse's current market dynamics and hint at areas that require focused attention for future growth.
Competitive Landscape
In the Michigan concentrates market, Bowhouse has experienced notable fluctuations in its rank and sales over the past few months. Starting strong in May 2024 with a rank of 9, Bowhouse climbed to 6th place in June, indicating a peak in consumer demand. However, by July and August, the brand saw a decline to 13th and 20th place, respectively. This downward trend in rank coincides with a significant drop in sales from $468,923 in June to $218,502 in August. In contrast, competitors like Rise (MI) and Element have shown more stable or improving trends. Notably, Mischief made a remarkable jump from being unranked in May and June to 25th in July and 18th in August, with sales peaking at $242,090 in August. These dynamics suggest that while Bowhouse had a strong start, it faces stiff competition and must strategize to regain its earlier momentum in the Michigan concentrates market.
Notable Products
In August 2024, Pink Runts (3.5g) maintained its top position as the best-selling product for Bowhouse, with sales reaching 4585 units. Candy Cartel (3.5g) held the second rank, showing consistent performance since June 2024. Big Foot Glue Live Resin Badder (1g) entered the rankings for the first time, securing the third position with notable sales. Gary Payton (3.5g) and Apple Fritter Live Resin Badder (1g) both retained their fourth and fifth ranks, respectively, from the previous month. Overall, the rankings for August 2024 displayed stability among the top products, with new entries indicating a growing interest in concentrates.
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.
