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Aug-2024
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Overview
Market Insights Snapshot
Dazed (MI) has shown a notable upward trajectory in the Concentrates category within Michigan. Starting from a ranking of 32 in May 2024, the brand has steadily climbed the ranks, reaching the 16th position by August 2024. This consistent improvement indicates a strengthening market presence and growing consumer preference for their products within this category. The brand's sales figures also reflect this positive trend, with a significant increase from $150,785 in May to $263,501 in August, showcasing robust growth and a successful strategy in expanding their market share.
Despite the positive performance in Michigan's Concentrates category, it's important to note that Dazed (MI) did not appear in the top 30 brands in other states or categories during these months. This absence suggests that while the brand is making impressive strides in Michigan, there may be opportunities for growth in other regions and product categories. The concentrated success in Michigan could serve as a model for Dazed (MI) to replicate in other markets, potentially leading to broader geographic and category expansion in the future.
Competitive Landscape
In the Michigan concentrates market, Dazed (MI) has shown a notable upward trend in rank and sales over the past few months. Starting from a rank of 32 in May 2024, Dazed (MI) climbed to 16 by August 2024, indicating a significant improvement in market position. This upward trajectory is underscored by a substantial increase in sales, from $150,785 in May to $263,501 in August. In comparison, Mischief entered the top 20 in July 2024 and ranked 18 by August, with sales reaching $242,090. Similarly, Uplyfted Cannabis Co. experienced fluctuations, peaking at rank 17 in August with $256,969 in sales. Meanwhile, Strait-Fire maintained a more stable position, ranking 14 in August with $275,039 in sales. Midwest Extracts also showed a remarkable rise, moving from rank 51 in May to 15 in August, with sales of $273,521. These trends highlight Dazed (MI)'s competitive momentum in the Michigan concentrates category, suggesting a strong market presence and potential for continued growth.
Notable Products
For August 2024, the top product from Dazed (MI) is the Dazed THC Full Spectrum RSO Syringe (1g) in the Concentrates category, maintaining its first-place ranking for four consecutive months with a notable sales figure of 19138. The CBD/THC 1:1 Full Spectrum RSO Syringe (1g) also retained its consistent second-place position throughout the same period. GMO Live Resin (1g) saw a significant rise, moving from fifth place in July to third in August. Gazzurple Live Resin (1g) held steady in fourth place for three months, showing consistent performance. Lemon Gelato Live Resin (1g) entered the rankings in August at fifth place, indicating a new but promising entry.
Top Selling Cannabis Brands
Data for this report comes from real-time sales reporting by participating cannabis retailers via their point-of-sale systems, which are linked up with Headset’s business intelligence software. Headset’s data is very reliable, as it comes digitally direct from our partner retailers. However, the potential does exist for misreporting in the instance of duplicates, incorrectly classified products, inaccurate entry of products into point-of-sale systems, or even simple human error at the point of purchase. Thus, there is a slight margin of error to consider. Brands listed on this page are ranked in the top twenty within the market and product category by total retail sales volume.
