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Mar-2024
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Overview
Market Insights Snapshot
In Michigan, Green DR has shown a notable presence in the Tincture & Sublingual category, securing a rank within the top 30 brands over the last four months. The brand improved its position from 18th in December 2023 to 15th in March 2024, indicating a positive trajectory in this category. This upward movement is further underscored by a significant increase in sales from December 2023's $1,315 to $1,913 in March 2024. However, the fluctuation in rankings between December 2023 and January 2024, where it fell to 23rd before climbing back up, suggests a competitive market environment that Green DR is navigating with some success. This resilience in maintaining a top 20 position, despite the dip, highlights the brand's steady appeal among consumers in Michigan's Tincture & Sublingual market.
On the other hand, Green DR's performance in the Topical category within the same state presents a different narrative. The absence from the top 30 brands in December 2023 and February 2024, interspersed with rankings of 35th in January and 27th in March, indicates a more challenging landscape for the brand in this segment. The entry into the top 30 in January, followed by a disappearance and a subsequent return at a higher rank in March, could suggest initial struggles to capture market share, followed by a gradual build-up of its presence. Despite these challenges, the sales figures, from $227 in January to $332 in March, show a positive sales trajectory, hinting at a growing consumer interest. This mixed performance across categories underscores the dynamic nature of Green DR's market engagement in Michigan, with successes and challenges that reflect the brand's evolving strategy and consumer reception.
Competitive Landscape
In the competitive landscape of the Tincture & Sublingual category in Michigan, Green DR has experienced fluctuations in its market position, indicating a volatile yet improving trend in its rank and sales from December 2023 to March 2024. Initially ranked 18th in December, Green DR faced a drop out of the top 20 in January, only to reclaim its position in February and March, ending at 15th place. This trajectory suggests a recovery and potential growth in market share, despite lower sales figures compared to its competitors. Notably, Tree House CBD has shown a significant drop from 6th to 13th place, despite a peak in January sales, indicating a potential opportunity for Green DR to capture some of its market share. Meanwhile, UpLift'N and HOH Hempnotize have maintained more stable rankings, with UpLift'N consistently outperforming Green DR in sales and rank. Everyday Cannabis, similar to Green DR, has shown fluctuations but ended March with a rank lower than Green DR, suggesting that while Green DR is not leading the pack, it is making strides in a competitive market.
Notable Products
In March 2024, Green DR's top-performing product was the CBD:CBG 1:1 The Power Couple Full Spectrum Tincture (1000mg CBD, 1000mg CBG, 60ml) from the Tincture & Sublingual category, maintaining its number one rank since December 2023 with a notable sales figure of 29 units. Following closely was the CBD Dog Treats 10-Pack (300mg CBD) in the Edible category, which also held its second position consistently across the same period. Interestingly, the CBD Pain Reliving Freeze Lotion (500mg CBD) from the Topical category made a significant leap to the third rank in March 2024, despite not being ranked in February 2024. This shift indicates a growing interest in topical solutions among Green DR's clientele. These rankings highlight a stable preference for CBD products, with the top two products showing consistent performance and customer loyalty over the months.
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