Market Insights Snapshot
One of the notable movements in the cannabis market is the performance of the HY-R brand in the Pre-Roll category. Over the course of four months, from August to November 2023, the brand has made significant strides in Michigan. In August 2023, HY-R wasn't even in the top 20 brands for Pre-Rolls in this state, but by September, it had managed to secure the 20th spot. This upward trend continued with the brand jumping eight positions in October to reach the 12th rank, and further improving its standing by one spot in November.
While we won't delve into the exact sales figures, it's worth noting that the improvement in ranking was accompanied by a steady increase in sales as well. The brand experienced a substantial growth in sales from August to October, although there was a slight dip in November. This suggests that HY-R is gaining traction in the Michigan Pre-Roll market, and could potentially break into the top 10 if this trend continues. However, the slight decrease in sales in November indicates that the brand may need to further consolidate its position and strategies to maintain its upward trajectory.
In the competitive landscape of the Pre-Roll category in Michigan, HY-R has shown a significant upward trend in its market position. In August 2023, it was not among the top 20 brands, indicating a rank below 20. However, by November 2023, it had climbed to the 11th position, surpassing competitors like NOBO and Pro Gro. Despite this, it still lags behind brands like Distro 10 and Redemption. In terms of sales, HY-R has shown a steady increase over the months, indicating a growing customer base and market acceptance. However, it's worth noting that brands like Pro Gro and Distro 10 still command higher sales, suggesting a more established market presence.
In November 2023, the top-performing product from HY-R was the Peach Infused Infused Pre-Roll (1g), with a staggering sales figure of 19,232 units. This product climbed from the second position in October to the top spot in November. The Cherry Punch Infused Pre-Roll (1.5g), which held the top rank in the previous three months, slipped to the second position. Making its debut in the top five, the Orange Pineapple Infused Pre-Roll (1g) secured the third spot. The Mango Infused Pre-Roll (1.35g) and Strawberry Shortcake Infused Pre-Roll (1.35g) retained their spots in the top five, ranking fourth and fifth respectively.