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Aug-2024
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Overview
Market Insights Snapshot
In Michigan, HOH Hempnotize has demonstrated notable performance in the Topical category. Despite not being in the top 30 brands in May 2024, the brand made a significant leap to rank 10th in June 2024. Although it experienced a slight decline to 11th place in July, it rebounded to 7th place in August 2024. This upward trend indicates a growing acceptance and popularity of HOH Hempnotize's topical products in Michigan. The brand's sales figures also reflect this positive movement, with a notable increase from $11,348 in June to $12,411 in July, suggesting that their marketing and product quality may be resonating well with consumers.
However, the absence of HOH Hempnotize from the top 30 brands in May and August 2024 could be a point of concern. This inconsistency highlights the competitive nature of the cannabis market in Michigan and the challenges brands face in maintaining a steady ranking. Nevertheless, the brand's ability to jump back into the top 10 within a short span is commendable and suggests potential for sustained growth if they can address the factors causing these fluctuations. The data implies that while HOH Hempnotize has made significant strides, there is still room for improvement to ensure consistent performance across all months.
Competitive Landscape
In the competitive landscape of the Michigan Topical cannabis market, HOH Hempnotize has shown notable fluctuations in rank and sales over the past few months. Despite not being in the top 20 in May 2024, HOH Hempnotize climbed to 10th place in June, dropped to 11th in July, and then rebounded to 7th in August. This indicates a dynamic market presence and potential for growth. In comparison, Vlasic Labs consistently held the 5th position, showcasing stable performance and higher sales figures. Meanwhile, Michigan Organic Rub experienced a decline from 6th place in May and June to 9th in July and August, reflecting a downward trend. Neno's Naturals showed a positive trajectory, moving from 7th in May to 6th in July and August, indicating growing market acceptance. Lastly, Made By A Farmer re-entered the rankings in August at 8th place, suggesting a resurgence. These dynamics highlight the competitive nature of the market and the importance of strategic positioning for HOH Hempnotize to maintain and improve its standing.
Notable Products
In August 2024, the top-performing product for HOH Hempnotize was CBD Intensive Relief Cream (2000mg CBD, 2oz) in the Topical category, maintaining its first-place ranking for the fourth consecutive month with sales of $203. CBD Gummies 30-Pack (1500mg CBD) in the Edible category held steady at the second position since its debut in June 2024. CBD Gummies 30-Pack (750mg CBD) climbed to the third spot, showing a consistent performance improvement from fifth place in July 2024. Pet Drops - CBD Broad Spectrum Bacon Flavor Tincture (500mg CBD, 30ml) dropped to fourth place, indicating a decline from its previous rankings. Lastly, CBD Freeze Roll On (400mg CBD) entered the top five for the first time, securing the fourth position in August 2024.
Top Selling Cannabis Brands
Data for this report comes from real-time sales reporting by participating cannabis retailers via their point-of-sale systems, which are linked up with Headset’s business intelligence software. Headset’s data is very reliable, as it comes digitally direct from our partner retailers. However, the potential does exist for misreporting in the instance of duplicates, incorrectly classified products, inaccurate entry of products into point-of-sale systems, or even simple human error at the point of purchase. Thus, there is a slight margin of error to consider. Brands listed on this page are ranked in the top twenty within the market and product category by total retail sales volume.
