Market Insights Snapshot
In the beverage category, Happi has seen some interesting movements across different states. In Michigan, the brand's ranking has shown a slight decline over the span of four months from July to October 2023. Starting at the 14th position in July and August, it slipped to 15th in September, and further down to 17th in October. This indicates that while Happi was among the top 20 brands in the state for these months, it has been facing increased competition. It's worth noting that the sales trend also mirrors this ranking shift, with a peak in August followed by a decline in the subsequent months.
However, it's not all negative for Happi. Despite the downward trend in rankings and sales, the fact that the brand has consistently stayed within the top 20 brands in the competitive beverage category in Michigan is a testament to its resilience and popularity among consumers. While specific sales figures are proprietary information, it's clear that Happi has managed to maintain a steady consumer base. Moving forward, it will be interesting to track how Happi navigates this competitive landscape and whether it can leverage its strengths to climb up the rankings.
In the Beverage category within Michigan, Happi has seen a slight decline in its rank, moving from 14th in July 2023 to 17th in October 2023. This trend is mirrored by a decrease in sales over the same period. Happi's competitors have shown varied performance. Cannavis Syrup has improved its rank from 21st to 15th, while Harbor Farmz has remained relatively stable, fluctuating between 15th and 18th. Cannashine has seen a slight improvement, moving from 19th to 17th, but MyHi has dropped from 12th to 16th. Sales trends for these competitors have also varied, with Cannavis Syrup and Cannashine seeing an increase, Harbor Farmz experiencing a decrease, and MyHi showing a significant drop.
In October 2023, the top-performing product from Happi was the Pomegranate Hibiscus Infused Seltzer (10mg), which regained its leading position after dropping to second place in September. It sold 463 units, the highest sales figure for any product that month. The second best-seller was the Lime Wild Mint Infused Seltzer (10mg), which had been the top product in September. The Lemon Elderflower Seltzer (5mg) and Raspberry Honeysuckle Seltzer (5mg) both tied for third place. This marks a notable improvement for the Lemon Elderflower Seltzer, which had consistently held fourth place in previous months.