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Jun-2024
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Overview
Market Insights Snapshot
Bowhouse has shown significant performance improvements in the Concentrates category within Michigan. Starting from a rank of 42 in March 2024, the brand climbed to 10th place in both April and May, and further improved to 7th place by June. This upward trend is indicative of a strong market presence and increasing consumer demand for Bowhouse's Concentrates. The sales figures support this trend, with substantial growth from $139,398 in March to $394,893 in June, suggesting successful market strategies and product acceptance.
In contrast, Bowhouse's performance in the Vapor Pens category in Michigan has been less impressive. The brand did not rank in the top 30 in March, and although it entered the rankings at 72nd place in April and improved slightly to 68th in May, it fell to 87th place by June. This fluctuation indicates a struggle to maintain a strong foothold in the Vapor Pens market. The sales figures reflect this inconsistency, showing a decrease from $93,082 in April to $54,206 in June. This downward trend suggests that Bowhouse may need to reassess its strategies in this category to capture a more stable market share.
Competitive Landscape
In the Michigan concentrates market, Bowhouse has shown a remarkable improvement in its rank and sales over the past few months. Starting from a position outside the top 20 in March 2024, Bowhouse climbed to 10th place by April and maintained this rank in May before further improving to 7th place in June. This upward trajectory indicates a significant increase in market presence and consumer acceptance. In contrast, competitors such as Cannalicious Labs and Common Citizen have maintained relatively stable ranks, with Cannalicious Labs dropping slightly from 4th to 5th place in June and Common Citizen holding steady at 6th place from April to June. Another competitor, Rkive Cannabis, experienced a decline from 5th place in March to 8th place in June. The consistent rise of Bowhouse, coupled with the fluctuating ranks of its competitors, suggests that Bowhouse is gaining a stronger foothold in the Michigan concentrates market, which could lead to further increases in sales and market share.
Notable Products
In June 2024, Bowhouse's top-performing product was Pink Runts (3.5g) in the Flower category, maintaining its first-place ranking from May with sales of 4636 units. Candy Cartel (3.5g), also in the Flower category, secured the second position, making a notable entry this month. Trop Cherry Live Resin Badder (1g) in the Concentrates category debuted at third place. Red Velvet Cured Resin Cartridge (1g) in the Vapor Pens category dropped from second place in May to fourth in June. Count Chunkula (3.5g) in the Flower category moved up from fourth to fifth place, showing a consistent upward trend in its rankings.
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