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Feb-2024
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Overview
Market Insights Snapshot
In Michigan, Fresh Coast's performance across different cannabis categories reveals a mixed trajectory of growth and challenges. In the Concentrates category, the brand experienced a fluctuating presence in the rankings, peaking at 14th in December 2023 before sliding down to 29th by February 2024. This decline suggests a significant challenge in maintaining its market position amidst competitive dynamics. Conversely, in the Edibles category, Fresh Coast showed a promising upward movement, climbing from 19th in November 2023 to 13th in January 2024, before a slight dip to 20th in February 2024. This indicates a stronger market performance and consumer preference in this category, despite a slight setback in the latest month.
Furthermore, the Vapor Pens category presents a unique case for Fresh Coast in Michigan. Initially ranked outside the top 20 in November 2023, the brand made a notable entry at 24th place, followed by a drop to 38th in January 2024, which is significantly concerning. However, a rebound to 22nd place in February 2024 showcases resilience and potential recovery in consumer interest or strategic adjustments by the brand. This volatility highlights the competitive nature of the Vapor Pens market and the importance of consistent innovation and marketing strategies to capture consumer attention. Despite these fluctuations, the sales figures, such as the $243,306 revenue in November 2023 for Concentrates, reflect the brand's ability to generate significant income, even when facing ranking challenges.
Competitive Landscape
In the competitive landscape of the Vapor Pens category in Michigan, Fresh Coast has experienced notable fluctuations in its market position. Initially ranked 24th in November 2023, it saw a slight decline to 26th in December, before a significant drop to 38th in January 2024, and then a surprising recovery to 22nd in February. This rollercoaster in rankings reflects a volatile market presence, with sales mirroring these changes—peaking in November, dipping significantly in January, and then partially recovering. Competitors such as Magic, maintaining a steadier climb in the rankings, from 19th to 21st, and Dragonfly Cannabis, which also experienced a drop but less dramatically than Fresh Coast, highlight the challenges Fresh Coast faces. Notably, Thunder Canna made a significant leap from 61st to 20th, showcasing an extraordinary increase in sales and rank, setting a benchmark for growth within the category. These dynamics suggest that while Fresh Coast has the potential for recovery and growth, as evidenced in February 2024, the brand must navigate a highly competitive and fluctuating market landscape to secure a more stable and ascending position.
Notable Products
In February 2024, Fresh Coast saw Sour Watermelon Gummies 10-Pack (200mg) leading the sales with a total of 16,876 units sold, marking its return to the top spot after being ranked third in January. Following closely, Sour Pomegranate Gummies 10-Pack (200mg) jumped from the fifth to the second position, indicating a significant increase in popularity. Sour Key Lime Gummies 10-Pack (200mg) also showed notable progress, moving up from fourth to third place, reflecting a steady growth in consumer preference. However, Blood Orange Live Resin Distillate High Dose Gummies 10-Pack (200mg) experienced a decline, dropping from the second position in January to fourth in February, despite its previous strong sales. Lastly, Key Lime Gummies 10-Pack (200mg) rounded out the top five, demonstrating a fluctuating yet persistent presence in the market despite its dip in sales from January to February.
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.
