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Jun-2024
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Overview
Market Insights Snapshot
HOH Hempnotize has shown notable performance in the Topical category in Michigan. After not being in the top 30 brands for March through May 2024, the brand made a significant leap to rank 9th in June 2024. This upward movement is a strong indicator of the brand's growing acceptance and popularity within the state. The sales figures for June reflect this positive trend, showing a substantial increase compared to previous months where the brand did not rank.
While the performance in Michigan is promising, it's important to note that HOH Hempnotize did not make it into the top 30 brands in the Topical category for the months of March, April, and May. This absence suggests that the brand might have been struggling or focusing on other markets or categories during those months. The sudden appearance in June’s rankings could indicate a successful marketing campaign or product launch that resonated well with consumers. This movement highlights the importance of strategic planning and execution in the competitive cannabis market.
Competitive Landscape
In the Michigan Topical category, HOH Hempnotize has shown a notable entry in the competitive landscape. After missing the top 20 ranks for March, April, and May 2024, HOH Hempnotize surged to rank 9 in June 2024, indicating a significant upward trend. This rise in rank places HOH Hempnotize in direct competition with established brands like Proper Bakehouse, which consistently held ranks 7 to 9, and Neno's Naturals, which fluctuated between ranks 6 to 8. Despite the competitive pressure, HOH Hempnotize's entry into the top 10 suggests a growing market presence and potential for increased sales. Meanwhile, Zilla's maintained a steady position around rank 9 to 10, and Northern Connections dropped out of the top 20 after May 2024, highlighting the dynamic shifts within this market segment. These insights suggest that HOH Hempnotize is gaining traction and could continue to climb the ranks if current trends persist.
Notable Products
In June 2024, the top-performing product for HOH Hempnotize was CBD Intensive Relief Cream (2000mg CBD, 2oz) in the Topical category, maintaining its rank from May with impressive sales of 314 units. The Pet Drops - CBD Broad Spectrum Bacon Flavor Tincture (500mg CBD, 30ml) held steady at the second position in the Tincture & Sublingual category, showing consistent performance over the months. CBD Soothing Eucalyptus Bath Bomb (35mg CBD) entered the rankings at the third position in the Topical category, indicating a strong debut. CBD Natural Flavor Full Spectrum Tincture (2000mg CBD) was ranked fourth in its category, marking its first appearance in the top rankings. Notably, CBD Gummies 30-Pack (750mg CBD) did not maintain its previous third-place ranking from May, indicating a shift in consumer preferences.
Top Selling Cannabis Brands
