Market Insights Snapshot
In the Beverage category, High TeHC has shown a commendable performance in Michigan. The brand has consistently maintained a position within the top 20 brands from August to November 2023. Though there was a slight dip in ranking from 16th in September to 18th in November, the sales trend has been generally positive. Notably, the sales more than tripled from August to September, showcasing a significant growth potential for the brand in this category. However, it's worth noting that the sales slightly declined from October to November, which might indicate a need for strategic adjustments.
On the other hand, High TeHC's performance in the Edible category in Michigan has room for improvement. The brand did not make it to the top 20 brands from August to November 2023, indicating a competitive market scenario. The sales trend also shows a decline from August to October, but interestingly, there's a slight increase in sales in November. This could suggest a potential turnaround for the brand in this category. However, it's too early to make a definitive conclusion and further observation would be necessary to confirm this trend.
In the Michigan Edibles market, High TeHC has maintained a consistent presence in the top 70 brands from August to November 2023, with ranks of 58, 60, 65, and 63 respectively. This consistency in ranking indicates a stable demand for High TeHC products, despite slight fluctuations in sales. In comparison, Smokiez Edibles showed a significant improvement in rank from 95 in August to 59 in November, suggesting a substantial increase in market share. However, they were not ranked in September and October, indicating they were not in the top 20 brands during those months. Tyson 2.0 and Vlasic Labs both maintained a similar rank range to High TeHC, with Tyson 2.0 showing a slight decrease in rank over time, and Vlasic Labs showing a slight increase. Everyday Cannabis entered the top 20 in September with a rank of 86 and improved to 65 by November, indicating a positive growth trend.
In November 2023, High TeHC's top-performing product was the 'Boost - Lemon Delight Sativa Gummies 20-Pack (200mg THC)', which ranked first in sales. This product saw a significant rise in its ranking from fourth place in October. The 'Kick - Kranberry Kick Sativa Gummies 20-Pack (200mg)' maintained its strong performance, tying with the 'Boost - Lemon Delight' for the top spot. The 'Now-N-Later - Pineapple Crush Hybrid Gummies 20-Pack (200mg)' came in second, improving its position from the previous month. The 'Regen - CBD/THC 3:2 Orange Blossom Hybrid Gummies 20-Pack (300mg CBD, 200mg THC)' and 'THC Elev8 Infused Powder (200mg)' ranked third and fourth respectively, with the latter product seeing a drop from its third-place ranking in October. Notably, 'Boost - Lemon Delight' had a raw sales figure of 423 units for the month.