Market Insights Snapshot
In Michigan, the cannabis brand Dazed has seen a slight downward trend in the Concentrates category over the past few months. Notably, Dazed started strong in August 2023, ranking 5th in the state. However, by the following month, the brand slipped to 9th place and further down to 11th in October and November 2023. This indicates a consistent decrease in their category ranking, which could be a point of concern for the brand.
Despite the drop in ranking, Dazed's sales in the Concentrates category remained relatively stable. The brand kicked off August 2023 with impressive sales figures but saw a dip in September. Interestingly, there was a slight recovery in October, only to drop again in November. This fluctuation suggests that while Dazed may not be consistently maintaining its top-tier ranking, it continues to have a significant presence in the Michigan market. This is a testament to the brand's resilience and its potential to bounce back in the future.
In the competitive landscape of the Concentrates category in Michigan, Dazed has seen a slight downward trend in rank from August to November 2023, moving from 5th to 11th place. This is in contrast to Hype Concentrates which made a significant leap from not being in the top 20 in August to 12th place in November. Meanwhile, Cannalicious Labs and Element have both seen fluctuations in their ranks, with Cannalicious Labs dropping from 2nd to 13th place and Element moving from 6th to 9th place. Traphouse Cannabis Co. also experienced a drop in rank from 2nd to 10th place. These shifts in rank among Dazed's competitors indicate a highly dynamic market in Michigan's Concentrates category.
In November 2023, Dazed's top-performing product was the THC Full Spectrum RSO Syringe (1g) from the Concentrates category, maintaining its number one rank from previous months and achieving impressive sales of 13,842 units. The Jelly Donut Live Resin (1g) also from the Concentrates category, made a significant debut at second place. GG #4 Live Resin (1g), another new entrant in the Concentrates category, secured the third spot. Chocolate Diesel Live Resin (1g) dropped from second place in October to the fourth spot in November. Lastly, Gushers Live Resin Diamonds (1g) entered the rankings at fourth place.