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Apr-2024
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Overview
Market Insights Snapshot
In the Michigan market, Dazed (MI) has shown an interesting performance across different cannabis categories, notably in Concentrates and Vapor Pens. For Concentrates, Dazed maintained a presence within the top 20 brands from January to April 2024, with rankings fluctuating slightly but showing a stable demand. The brand ranked 15th in January, dropped to 17th in February, returned to 15th in March, and then slightly declined to 18th in April. This movement indicates a consistent interest in their Concentrates category, with sales peaking in March at $290,866 before a slight dip in April. However, the Vapor Pens category tells a different story. Dazed (MI) struggled to maintain a strong position, starting at the 79th rank in January and slightly declining to 84th by February, with no rankings available for March and April, suggesting a significant drop in their market presence or a strategic withdrawal from this category within the Michigan market.
The contrasting performance of Dazed (MI) in these two categories within the Michigan market provides valuable insights. The steady yet slightly fluctuating rankings in the Concentrates category could reflect a loyal customer base and consistent product quality or availability issues that need addressing to climb higher in the rankings. On the other hand, the apparent decline in the Vapor Pens category, culminating in the absence from the top 30 rankings in the last two months of the period, highlights potential challenges in product differentiation, consumer preferences, or competitive pressures. These insights into Dazed (MI)'s performance across categories underscore the importance of strategic focus and adaptability in maintaining and enhancing market presence in the competitive cannabis industry in Michigan.
Competitive Landscape
In the competitive landscape of the concentrates category in Michigan, Dazed (MI) has experienced fluctuations in its market position, with ranks shifting from 15th in January 2024 to 18th by April 2024. This indicates a challenging environment, especially when considering the dynamic movements of its competitors. Notably, Bowhouse made a significant leap from 44th to 16th place within the same period, showcasing a remarkable increase in sales and market presence. Similarly, Uplyfted Cannabis Co. improved its rank from 49th to 20th, closely trailing Dazed (MI) by April 2024. Meanwhile, Strait-Fire and Peachy Hash & Co. have also shown strong performances, with Strait-Fire consistently maintaining a top 20 position and Peachy Hash & Co. moving up to 19th by April. These shifts suggest a highly competitive market where brands like Dazed (MI) must continuously innovate and adapt to maintain or improve their market standing amidst aggressive competition and changing consumer preferences.
Notable Products
For Apr-2024, Dazed (MI) saw its top product as the Dazed THC Full Spectrum RSO Syringe (1g) from the Concentrates category, maintaining its number one rank since January with sales peaking at 20,649 units. Following in second place was the CBD/THC 1:1 Full Spectrum RSO Syringe (1g), also under Concentrates, holding steady in its rank since February. A new entrant in the top products, Forbidden Fruit Live Resin (1g) from Concentrates, secured the third spot, a notable achievement given its absence in previous months' rankings. The Critical Kush Live Resin Cartridge (1g) from the Vapor Pens category dropped to fourth after previously ranking second and third, indicating a shift in consumer preference. Lastly, the Dank Sinatra Live Resin (1g) from Concentrates rounded out the top five, slipping from its fourth-place position in March, reflecting the dynamic nature of product popularity within Dazed (MI).
Top Selling Cannabis Brands
