Market Insights Snapshot
In the Concentrates category, Michigan's GreenCo Ventures showed a notable upward trend from August to October 2023, improving its rank from 20th to 9th. This is a significant accomplishment for the brand, demonstrating a strong market presence and an ability to compete with other top brands. However, there was a slight drop in November, with the rank falling to 14th. This suggests a fluctuating market position, and it will be interesting to observe how this trend develops in the future.
The performance of GreenCo Ventures in the Vapor Pens category in Michigan was more inconsistent. The brand was not ranked in the top 20 in September and November 2023, indicating that it faced tougher competition in this category. However, it's worth noting that the brand did manage to secure a rank of 73rd in August and 99th in October. This shows that while GreenCo Ventures may not be a leading brand in the Vapor Pens category, it still maintains a presence in the market.
In the Michigan concentrates market, GreenCo Ventures has shown a consistent performance, maintaining its position within the top 20 brands from August to November 2023. However, it has faced stiff competition from brands like Cannalicious Labs and Humblebee, which have consistently ranked higher. Interestingly, Hype Concentrates and Society C, which were not even in the top 20 in August, have made significant strides, with Hype Concentrates even surpassing GreenCo Ventures in November. In terms of sales, GreenCo Ventures saw a significant increase from August to October, but experienced a drop in November, a trend mirrored by Cannalicious Labs. Meanwhile, both Hype Concentrates and Society C have seen their sales increase month on month, indicating a potential threat to GreenCo Ventures' market position.
In November 2023, GreenCo Ventures saw 'Lemon G x Lemon Cherry Gelato Live Resin (1g)' from the Concentrates category as the top-performing product with sales of 7504 units. Following closely was 'BPD Live Resin (1g)', also in the Concentrates category, ranking second. 'Head Dog x Lemon Cherry Gelato Live Resin (1g)' secured the third rank, while 'Gorilla Snacks Live Resin (1g)' and 'Peachy Keen Live Resin (1g)' rounded out the top five. The rankings have seen a significant shift from previous months, with 'BPD Live Resin (1g)' dropping from first to second place. The top five products all belong to the Concentrates category, highlighting its popularity among consumers.