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Mar-2024
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Overview
Market Insights Snapshot
In the cannabis market, the brand Choice has shown a varied performance across different states and product categories. For instance, in Massachusetts and Michigan, Choice's Edible products have maintained a strong presence, with rankings in Massachusetts improving from 11th in December 2023 to 9th in March 2024, and consistently holding the 2nd position in Michigan during the same period. This indicates a solid and growing consumer base in these states. However, the brand has struggled to make a significant impact in the Pre-Roll category in Arizona, only appearing in the rankings in February 2024 at the 92nd position and improving to 79th in March 2024. The absence from the top 30 brands in December 2023 and January 2024 suggests initial challenges in gaining market traction in this category within the state.
Meanwhile, Choice's performance in the Vapor Pens category in Michigan shows a decline, with rankings slightly dropping from 87th in December 2023 to 88th in January 2024, and then disappearing from the top 30 rankings altogether in the following months. This could indicate a decrease in consumer interest or increased competition within the category. On the other hand, the Edible category in Colorado saw Choice ranked 53rd in December 2023, but the brand did not maintain its position in the top 30 through the subsequent months. This fluctuation in rankings across categories and states highlights the competitive nature of the cannabis market and the importance of strategic market positioning and product quality to maintain or improve brand standing. Despite these challenges, the significant sales figures in Massachusetts and Michigan for Edibles showcase Choice's strong market presence and consumer preference in these states, suggesting areas of focus for potential growth and consolidation.
Competitive Landscape
In the competitive landscape of the edible cannabis market in Michigan, Choice has maintained a consistent second place in rank from December 2023 through March 2024, showcasing its strong position against formidable competitors. The leading brand, Wyld, has consistently held the top rank during these months, with sales figures notably higher than Choice's, emphasizing Wyld's dominant market presence. Despite this, Choice has demonstrated significant resilience and growth, particularly evident in its sales increase from January to February 2024, narrowing the gap with Wyld. On the other hand, Kiva and MKX Oil Company, ranking third and fourth respectively, trail behind Choice, with Kiva showing a steady performance but still not matching Choice's sales figures, and MKX Oil Company significantly lower in both rank and sales. This competitive analysis highlights Choice's strong market position and potential challenges and opportunities for growth amidst its competitors in Michigan's edible cannabis sector.
Notable Products
In March 2024, Choice's top-selling product was Red Raz Haze Gummies 10-Pack (200mg) within the Edible category, marking a significant sales figure of 52,929 units. Following closely behind, the Sativa Blue Razz Dream Gummies (200mg) held the second position, a slight drop from its consistent first-place ranking in the previous three months. The third spot was taken by Granddaddy Grape Soft Chews 10-Pack (200mg), showing notable growth by moving up from the fourth position in February 2024. Sunset Orange Gummies 10-Pack (200mg) secured the fourth rank, indicating a steady performance despite a slight dip from its previous positions. Lastly, Strawberry Lemonade Gummies (200mg) emerged in the fifth position, showcasing its resilience by reappearing in the top rankings after being unranked in February 2024.
Top Selling Cannabis Brands
