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Apr-2024
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Overview
Market Insights Snapshot
In the competitive landscape of cannabis concentrates, #Hash has shown notable performance variations across different states. In Michigan, #Hash has maintained an impressive stance, consistently securing the 2nd rank from January to April 2024. This consistency is underscored by a significant sales increase from 749,052 in January to 1,139,239 in April, indicating strong market approval and a growing consumer base. Contrastingly, in Illinois, the brand experienced slight fluctuations in rankings, moving from 24th in January to 22nd in April. Although this improvement suggests a positive direction, the movement within the rankings indicates a more competitive or challenging market environment for #Hash in Illinois compared to Michigan.
Looking at other states, #Hash's performance in Maryland and New York offers a mixed picture. In Maryland, the brand held the 17th rank in both January and February, with no data available for March and April, which might indicate a drop out of the top 30 or an absence of reporting. This lack of data for the latter months could be seen as a downturn or a challenge in maintaining its market position. On the other hand, #Hash made a strong entry in New York, securing the 4th rank in April, its first month reported, suggesting a promising start in a new market. This entry rank is particularly noteworthy, hinting at a potentially strong consumer demand and market fit within New York's concentrate category.
Competitive Landscape
In the competitive landscape of the concentrates category in Michigan, #Hash has consistently maintained its position as the second-ranked brand from January to April 2024, showcasing robust sales and a strong market presence. Despite its impressive performance, #Hash trails behind The Limit, which has secured the top rank throughout the same period, with a notable increase in sales in April 2024, indicating a widening gap between the two brands. On the other hand, #Hash has managed to stay ahead of its other competitors, such as Traphouse Cannabis Co., which consistently held the third rank, and Cannalicious Labs, which saw an improvement in its ranking from seventh to fourth place. This dynamic suggests that while #Hash is a strong contender in the Michigan concentrates market, there is a clear opportunity for growth and a need to strategize against the leading brand, The Limit, to potentially capture the top position or at least narrow the sales and ranking gap.
Notable Products
In April 2024, #Hash saw Apple Fritter Budder (1g) leading its product line in the Concentrates category, maintaining its top position from March with sales figures reaching 4958.0 units. The newcomer to the top rankings, MAC#1 Budder (1g), made an impressive debut at the second spot, indicating a strong market entry. Citral Glue Budder (1g) followed closely behind, securing the third position in its first appearance in the monthly rankings. OG Deluxe Sugar Wax (1g), previously leading in February, dropped to the fourth rank, showing a shift in consumer preferences within the Concentrates category. Lastly, Alien Triangle Budder (1g) entered the rankings at the fifth position, rounding out a diverse selection of top-performing products for #Hash in April.
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