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Apr-2024
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Overview
Market Insights Snapshot
In the evolving landscape of the cannabis market, Earthbound Remedies has shown a notable presence, particularly in the Michigan market within the Topical category. The absence of a ranking for Earthbound Remedies in January, February, and March 2024 indicates that the brand was not among the top 30 in Michigan during these months. However, a significant turnaround was observed in April 2024 when Earthbound Remedies secured the 12th position. This upward trajectory suggests a growing consumer interest or strategic shifts in product availability or marketing efforts in Michigan. The sales figure for April, standing at $14,552, underscores this positive momentum, marking Earthbound Remedies' entry into the competitive landscape with a strong performance in the Topical category.
While the detailed performance across other states or provinces and categories remains unexplored in this snippet, the information provided paints a picture of a brand that is potentially on the rise, at least in the Michigan Topicals market. The initial absence from the top 30, followed by a significant rank in April, highlights the volatility and competitiveness of the cannabis market. Such movements could be indicative of broader trends within the industry or specific to Earthbound Remedies' strategic decisions and market dynamics. Observing how Earthbound Remedies maintains or improves its position in the coming months could provide deeper insights into the brand's market strategies and consumer reception across different regions and product categories.
Competitive Landscape
In the competitive landscape of the topical cannabis market in Michigan, Earthbound Remedies has shown a notable entry by securing the 12th rank in April 2024, indicating a promising start amidst stiff competition. Competitors like Made By A Farmer and Northern Connections have demonstrated stronger performance, with Northern Connections notably climbing in rank from 9th in February to 10th in March, and maintaining this position in April, alongside a significant sales increase. Made By A Farmer also maintained a consistent 11th rank in March and April, showing a solid presence in the market. Another competitor, Bossy, though ranked 10th in January, did not maintain a top 20 position in the following months, highlighting the volatile nature of the market rankings. Earthbound Remedies' entry into the top 20, despite the absence in earlier months, reflects a growing interest and potential for upward mobility in Michigan's competitive topical cannabis category.
Notable Products
In April 2024, Earthbound Remedies saw the CBD Extra Strength Pain Relief Balm (3000mg CBD) from the Topical category as its top-selling product, with remarkable sales of 201 units. This product maintained its leading position from March, demonstrating consistent consumer demand. The second spot was a tie between CBD Extra Strength Pain Relief Balm (6000mg CBD), CBD Pine Eucalyptus Botanical Full Spectrum CBD Soap (250mg CBD), and Uplifting - CBD Eucalyptus & Spearmint Bath Soaks (300mg CBD), all from the Topical category, indicating a strong preference for topical CBD products among Earthbound Remedies' customers. Notably, the CBD Granddaddy Purple Distillate Disposable (0.6g) from the Vapor Pens category made it to the third rank, marking its first appearance in the top ranks for the year. This shift highlights a diversification in consumer interests, though topicals clearly dominated the month's sales.
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.
