Market Insights Snapshot
Highly Casual has been performing consistently in the Beverage category in Michigan, maintaining a position within the top 6 brands for the past four months. The brand climbed up a rank from 6th in July to 5th in August, a position it managed to hold in September as well. However, there was a slight drop in October as it fell back to the 6th position. This movement indicates a strong presence in the market, but also points towards stiff competition within the top ranks.
When it comes to sales, Highly Casual showed an upward trend from July to September, with sales rising from approximately 64,360 to 74,446. However, there was a noticeable dip in sales in October, dropping to around 65,838. This matches the brand's rank movement and suggests that the brand's performance may be closely tied to its ranking in the market. While the brand has shown resilience in maintaining its position within the top 6, there's clearly room for improvement to secure a higher, more stable rank.
In the Michigan Beverage category, Highly Casual has shown consistent performance, maintaining a rank between 5th and 6th over the period from July to October 2023. However, it's worth noting that some competitors have shown significant growth. Detroit Edibles / Detroit Fudge Company has seen a substantial rise in rank, moving from 17th to 8th, indicating a strong upward trend. Sweet Justice has remained a steady competitor, maintaining a rank around 6th to 7th. Northern Connections has consistently ranked higher than Highly Casual, though it experienced a slight drop from 4th to 5th rank in October 2023. Keef Cola is a notable competitor that ranked 4th in October, but it's important to note that they were not in the top 20 in the previous months, indicating a sudden surge in sales. This competitive landscape suggests Highly Casual needs to strategize effectively to maintain and improve its position.
In October 2023, the top-performing product of Highly Casual was the High 5 - CBD/THC 1:1 Strawberry & Watermelon Seltzer 4-Pack with sales figures reaching 1113 units. This product jumped from the 5th position in September to 1st in October. The second-best performing product was the High 5 - CBD/THC 1:1 Blueberry & Pineapple Seltzer 4-Pack, which saw a slight drop in ranking from 4th to 2nd. The Lemon & Lime Seltzer 4-Pack secured the third spot, maintaining its previous ranking. The Strawberry & Watermelon Seltzer 4-Pack and the Blueberry & Pineapple Seltzer 4-Pack occupied the 4th and 5th positions respectively, both experiencing a drop in their rankings from the previous month.