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Apr-2024
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Overview
Market Insights Snapshot
In the competitive cannabis market of Michigan, Feefers has shown a notable presence in the concentrates category, albeit with a downward trend in rankings over the first four months of 2024. Starting the year strongly at 8th position in January with sales amounting to 420,557.0, the brand experienced a gradual decline, slipping to 14th in February, 18th in March, and further down to 28th by April. This trajectory suggests a diminishing market share within this category, which could be indicative of increased competition or changes in consumer preferences. The consistent decrease in rankings, coupled with a corresponding drop in sales figures, points towards a need for strategic adjustments to regain or improve its market position in Michigan.
The decline from being among the top 10 brands in January to barely making it into the top 30 by April is a significant shift for Feefers in the concentrates category. Not maintaining a position within the top 30 brands for a month would signify a major setback; however, Feefers managed to stay within this competitive bracket throughout the observed period. This performance, while showing a clear downward trend, still demonstrates the brand's ability to hold onto its market presence amidst challenges. The information suggests that while Feefers may be experiencing a rough patch in maintaining its rank, it has not yet fallen out of the competitive landscape completely. For potential strategies to counteract this slide and insights into specific market dynamics that Feefers could leverage, further analysis would be required, focusing on consumer behavior shifts, competitive analysis, and possibly expanding or enhancing product offerings.
Competitive Landscape
In the competitive landscape of the concentrates category in Michigan, Feefers has shown a notable fluctuation in its market position from January to April 2024. Initially ranked 8th in January, Feefers experienced a slight decline, moving to 14th in February and 18th in March, before slightly dropping to 28th in April. This trend suggests a challenge in maintaining its market share amidst stiff competition. Notably, Mac Pharms demonstrated a significant leap, moving from a lower rank of 90th in January to the top 10 by February and March, and maintaining a strong position at 26th in April, indicating a robust growth in sales and market presence. Conversely, Five Star Extracts and Dabs & Doses showed variability in their rankings but remained within the top 30, suggesting a competitive but fluctuating performance. Big Gas Extracts, despite a late start in the rankings, has been making steady progress, hinting at increasing consumer interest. The shifting dynamics among these competitors, especially the rapid rise of Mac Pharms, directly impacts Feefers by increasing the competitive pressure and potentially diverting sales to these rising brands.
Notable Products
In April 2024, Feefers saw Khalifa Kush Cured Sugar Wax (1g) leading the sales in the Concentrates category, marking its rank as number 1 with a sales figure of 714 units. Following closely behind was Gastropop Cured Sugar (1g), which held the second position, slightly trailing with sales just 7 units less than the top product. Apple Fritter x Runtz Cured Sugar (1g) came in third, showcasing a consistent performance among the top three products. Notably, Deathstar Live Resin Sugar (1g) and Gastropop Live Badder (1g) made their debut in the rankings at fourth and fifth places, respectively. The shift in rankings from previous months highlights a dynamic market, with Khalifa Kush Cured Sugar Wax (1g) moving up from its previous positions to claim the top spot in April.
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