Market Insights Snapshot
In Michigan, High Minded has shown significant growth in the Edibles category, improving its rank from 49 to 34 between August and November 2023. This steady upward trend indicates a growing preference for the brand's offerings in this category. However, it's worth noting that the brand did not rank in the top 20 in this category, suggesting there's still room for improvement and growth. On the other hand, the brand's performance in the Flower category remained relatively stable, with ranks fluctuating between 5 and 9 over the same period. This stability in a highly competitive category is a positive sign.
Looking at the Pre-Roll category, High Minded's ranking slipped from 31 to 39, indicating a slight decrease in its market position. While the brand managed to maintain a place in the top 50, the downward trend is something to keep an eye on. In the Vapor Pens category, the brand started appearing on the chart in October 2023, quickly climbing from rank 54 to 45 in just a month. Despite missing data for August and September, this rapid rise suggests a promising future for High Minded in this category. However, as with the Edibles category, the brand did not make it into the top 20, indicating potential areas for growth.
In the competitive landscape of the Flower category in Michigan, High Minded has shown a notable upward trend in rank, moving from 6th in August 2023 to 5th in October 2023, before slightly dropping to 6th in November 2023. This fluctuation in rank indicates a dynamic market with strong competitors. For instance, Pro Gro started strong in August but saw a consistent drop in rank over the following months. NOBO also experienced a similar downward trend. On the other hand, Society C showed a significant jump in rank, moving from 8th to 2nd place in just a month, before stabilizing at 4th place. Distro 10, despite a strong start at 2nd place, also saw a gradual decrease in rank. These shifts in rank among competitors, coupled with High Minded's relatively stable position, suggest a potential for High Minded to capitalize on the changing market dynamics and further improve its standing in the Flower category in Michigan.
In November 2023, High Minded's top-performing product was 'Brawband (1g)', maintaining its top position from October and showing a significant sales volume of 11,386 units. The second spot was taken by 'Cadillac Rainbow #7 (Bulk)', a new entrant in the ranking. 'Wedding Crasher (1g)' slipped to the third position from its previous second spot in September. 'Milk Truck (1g)' and 'Blue Dream Pre-Roll (0.7g)' were other notable performers, ranking fourth and fifth respectively. Overall, there was a noticeable shift in rankings, with new products entering the top 5 and some existing products improving their positions.