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Apr-2024
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Overview
Market Insights Snapshot
In the edible category within Michigan, CBD Living has shown an intriguing performance trajectory at the start of 2024. January saw the brand ranking at 94th, which indicates a presence in the competitive landscape but suggests there is significant room for improvement. The absence of ranking data for February, March, and April could be interpreted in several ways; however, it most notably points towards a potential decrease in visibility or sales within this category in the state. This drop-off from the ranking list after January, despite having sales of $14,867 in that month, raises questions about the brand's strategies and market dynamics in Michigan's edible sector.
Without further ranking data for the subsequent months, it's challenging to pinpoint the exact trajectory of CBD Living in Michigan's edible market. The initial ranking in January followed by an absence could indicate fluctuating market positions or possibly strategic shifts within the company. This pattern might suggest that while CBD Living had a foothold in the Michigan market at the year's start, maintaining and capitalizing on that position has been challenging. The lack of visibility in the top 30 brands for the following months is a critical indicator of the brand's performance and market reception. Analyzing these movements provides valuable insights into not only CBD Living's strategies and challenges but also the competitive landscape of the cannabis edible sector in Michigan.
Competitive Landscape
In the competitive landscape of the edible cannabis market in Michigan, CBD Living has faced significant challenges in terms of its rank and sales among its competitors. In January 2024, CBD Living was ranked 94th, indicating a struggle to secure a top position in the market. Notably, its competitors have shown varying degrees of success. For instance, FloraCal Farms maintained a higher rank in both January (53rd) and February (56th), showcasing stronger market performance. Similarly, Element held ranks 77th in January and improved to 75th in February, indicating a positive trend in its market standing. On the other hand, High Life Farms did not appear in the top 20 in January but was ranked 84th in February, suggesting a volatile market presence. Tree House CBD, despite a lower starting rank of 75th in January, did not provide data for subsequent months, leaving its market trajectory unclear. This analysis underscores CBD Living's need to bolster its market strategies to improve its rank and sales amidst a competitive and fluctuating edible cannabis market in Michigan.
Notable Products
In April 2024, CBD Living saw CBD Cherry Gummies 30-Pack (300mg CBD) leading the sales chart, maintaining its position at the top with 115 units sold, showcasing its consistent popularity in the Edible category. Following closely, Pink Panther (Bulk) from the Flower category secured the second rank, marking a significant improvement with a sales jump to 72 units. The CBD:CBN 4:1 Sleep Vegan Gummies 30-Pack (600mg CBD, 150mg CBN), another Edible, experienced a slight drop to the third position after leading the sales in the previous months, indicating a shift in consumer preference. The CBD Soothing Eucalyptus Bath Bomb (100mg CBD) from the Topical category made its first appearance in the rankings at the fourth position, marking its entry into the competitive landscape. Lastly, the Calming - CBD Vegan Gummies 25-Pack (750mg CBD) rounded out the top five, demonstrating the Edible category's strong presence in CBD Living's product lineup.
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