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Jun-2024
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Overview
Market Insights Snapshot
The performance of Dazed (MI) in the Michigan market has shown notable fluctuations across the first half of 2024. In the Concentrates category, Dazed (MI) started strong with a rank of 17 in March but saw a decline to 25 by April and further to 28 in May. However, the brand managed to rebound to rank 20 in June. This pattern indicates a volatile market presence, with a significant drop in sales from March to May but a recovery in June, suggesting potential seasonal influences or competitive pressures impacting their standings. The brand's ability to climb back into the top 20 by June is a positive sign of resilience and adaptability.
While Dazed (MI) remained within the top 30 brands in the Concentrates category throughout the period, the monthly rank variations highlight the competitive nature of the Michigan market. The brand's drop to 28 in May, the lowest within this timeframe, could signal a period of strategic reassessment or intensified competition. Notably, their sales figures reflect these ranking changes, with a dip from $257,323 in March to $165,846 in May, before climbing back to $227,172 in June. This recovery in June suggests that Dazed (MI) may have implemented effective strategies to regain market share, possibly through promotional efforts or new product launches.
Competitive Landscape
In the competitive landscape of the Michigan concentrates market, Dazed (MI) has experienced notable fluctuations in its ranking and sales over recent months. In March 2024, Dazed (MI) held the 17th position, but saw a decline to 25th in April and 28th in May, before recovering to 20th in June. This volatility indicates a competitive struggle, particularly against brands like ErrlKing Concentrates, which surged from outside the top 20 in March and April to 16th in May and 18th in June. Similarly, Goodlyfe Farms entered the top 20 in May at 32nd and improved to 22nd in June, reflecting a positive growth trajectory. Meanwhile, Anarchy Extracts and Strait-Fire have shown more stability, although Anarchy Extracts dropped from 8th in March to 19th in June, and Strait-Fire fell from 10th to 21st over the same period. These shifts highlight the dynamic and competitive nature of the Michigan concentrates market, suggesting that Dazed (MI) needs to strategize effectively to regain and maintain a higher ranking amidst strong competition.
Notable Products
In June 2024, the top-performing product from Dazed (MI) was Dazed THC Full Spectrum RSO Syringe (1g) in the Concentrates category, maintaining its consistent rank of 1st place with notable sales of 16,385 units. The CBD/THC 1:1 Full Spectrum RSO Syringe (1g) also in the Concentrates category, held steady in 2nd place, showing a significant increase in sales compared to previous months. Gazzurple Live Resin (1g) climbed to 3rd place, up from its previous ranks in March and May. Dank Sinatra Live Resin (1g) remained in 4th place, consistent with its May ranking. Critical Kush Live Resin Cartridge (1g) in the Vapor Pens category dropped to 5th place, showing a decline from its 3rd place ranking in May.
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