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Jun-2024
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Overview
Market Insights Snapshot
In the state of Michigan, Cannalicious Labs has shown a consistent performance in the Concentrates category, maintaining a solid rank of 4th place from March to May 2024 before slightly dropping to 5th in June 2024. This indicates a strong market presence, although the drop in ranking suggests increased competition or a slight decline in sales. In the Edible category, the brand has fluctuated but remained within the top 20, holding ranks 19th, 17th, 19th, and 19th from March to June 2024 respectively. This stability in the Edibles category suggests a steady consumer base despite minor variations in rank.
However, Cannalicious Labs faces challenges in the Vapor Pens category in Michigan, where it has not managed to break into the top 30. The brand's ranking hovered around the 80s, specifically 80th, 81st, 89th, and 83rd from March to June 2024. This indicates that while the brand is a strong player in Concentrates and has a stable presence in Edibles, it struggles to compete in the Vapor Pens market. The absence from the top 30 for multiple months highlights an area where Cannalicious Labs could potentially focus on improvement or re-strategizing to gain a better foothold.
Competitive Landscape
In the competitive landscape of the Michigan concentrates market, Cannalicious Labs has experienced some fluctuations in its ranking and sales over recent months. Cannalicious Labs maintained a steady 4th place ranking from March to May 2024 but dropped to 5th place in June 2024. This decline in rank is notable, especially when compared to competitors like Traphouse Cannabis Co., which consistently held higher ranks, peaking at 2nd place in May 2024. Another competitor, Distro 10, showed a positive trend, climbing from 7th place in March to 4th place in June, overtaking Cannalicious Labs. Meanwhile, Common Citizen and Bowhouse have also shown upward mobility, with Bowhouse making a significant leap from 42nd place in March to 7th place in June. These shifts highlight the competitive pressures Cannalicious Labs faces, emphasizing the need for strategic adjustments to regain and maintain higher market positions.
Notable Products
In June 2024, Cannalicious Labs' top-performing product was the Mixed Berry RSO Rest Gummies 10-Pack (200mg), maintaining its first place ranking with sales of 6902 units. The Watermelon RSO High Dose Gummies 10-Pack (200mg) held steady in second place, while the Recovery - Mango RSO Gummies 10-Pack (200mg) continued in third. Blue Raspberry RSO Gummies (200mg) improved its position, climbing from fifth in April and May to fourth in June. The Recovery - Pear RSO Gummies 10-Pack (200mg) saw a drop from fourth place in April and May to fifth in June. Overall, the top products remained consistent in their rankings with minor shifts in positions.
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