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Aug-2024
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Overview
Market Insights Snapshot
Canna Bee Extracts has shown notable performance in the Michigan market, particularly in the Concentrates category. Over the summer months, the brand climbed from a rank of 37 in May to 24 in June, maintaining a stable presence around the 23-24 mark through August. This upward movement indicates a growing acceptance and popularity of their products within this category. However, the slight dip in sales from July to August suggests a need for strategic adjustments to maintain their competitive edge. The absence of a ranking in the top 30 earlier in the year highlights the significant progress made by Canna Bee Extracts, reflecting positively on their market strategies and product quality.
In the Vapor Pens category, Canna Bee Extracts has experienced a more dramatic shift in rankings within Michigan. Starting at rank 92 in May and gradually moving up to 54 by August, the brand has demonstrated significant improvement. The sharp increase in sales in August, nearly doubling from the previous month, underscores this positive trend. Despite these gains, the brand's initial low rankings earlier in the year signal areas for potential improvement and market penetration. The overall trajectory in the Vapor Pens category suggests that Canna Bee Extracts is effectively capturing consumer interest and expanding its footprint in Michigan's competitive market.
Competitive Landscape
In the Michigan concentrates market, Canna Bee Extracts has shown a notable fluctuation in rank and sales over the past few months, indicating a dynamic competitive landscape. Starting from a rank of 37 in May 2024, Canna Bee Extracts improved significantly to 24 in June and maintained a relatively stable position around 23-24 in the following months. This upward trend in ranking is indicative of a positive reception and growing market presence. In contrast, competitors like Element and Peachy Hash & Co. have experienced more volatility, with Element dropping out of the top 20 in June and July before recovering slightly in August, and Peachy Hash & Co. falling from 20 in May to 33 in June. Meanwhile, Goodlyfe Farms has consistently outperformed Canna Bee Extracts, maintaining a top 20 position for most of the period. This competitive analysis highlights the importance of strategic positioning and market adaptability for Canna Bee Extracts to continue its upward trajectory and close the gap with higher-ranked brands.
Notable Products
In August 2024, the top-performing product from Canna Bee Extracts was Black Cherry Punch Live Resin Terp Diamonds (1g) in the Concentrates category, climbing to the first position with sales of $1,412. Kush Cake Live Resin Moon Rocks (1g), also in Concentrates, maintained its second-place ranking from the previous month. Crunch Berries Moon Rocks (Bulk) in the Flower category rose to the third position, showing a notable increase from its fourth place in May. Jar Jar Stink Live Resin Disposable (1g) in Vapor Pens ranked fourth, marking its debut in the top five. White Runtz Live Resin Terp Diamonds (1g) in Concentrates dropped to fifth place, down from its fourth-place rank in June.
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.
