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Nov-2023
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Overview
Market Insights Snapshot
Starting off with the performance of Hype Concentrates in the Michigan market, it is worth noting that the brand has made significant strides in the Concentrates category. While they didn't rank in the top 20 in August, they made a commendable climb from rank 86 in September to a remarkable rank 12 in November. This upward trend suggests a growing preference for their concentrates among Michigan cannabis consumers. However, the details of the sales figures that contributed to this rise are beyond the scope of this free content.
On the other hand, Hype Concentrates' performance in the Edibles category shows a bit of inconsistency over the same period. They managed to maintain a position in the top 60 from August to October, but slipped to rank 73 in November. This could suggest a slight decrease in their market share in this category. Meanwhile, in the Vapor Pens category, Hype Concentrates has shown a relatively stable performance, consistently ranking within the top 33. This implies a consistent demand for their Vapor Pens in the Michigan market. However, a deeper dive into the actual sales figures and trends will provide a more comprehensive picture of their performance.
Competitive Landscape
In the Vapor Pens category in Michigan, Hype Concentrates has seen a fluctuating performance over the recent months. Despite not making it to the top 20 in August 2023, the brand significantly improved its rank to 18th in September, only to drop back to the 30th position in October and then slightly recover to 24th in November. In comparison, Cresco Labs and Kushy Punch have also struggled to maintain a consistent rank, with both brands seeing a downward trend. On the other hand, True North Collective has managed to stay within the top 20, despite a slight drop in November. Interestingly, Good News has shown a remarkable upward trend, moving from rank 49 in August to 22 in November. In terms of sales, Hype Concentrates saw a significant increase in September, followed by a decrease in October and a subsequent increase in November. This suggests a volatile market with opportunities for Hype Concentrates to capitalize on.
Notable Products
In November 2023, the top-performing product from Hype Concentrates was the 'Watermelon Bubblegum Live Resin (1g)' from the Concentrates category, with a sales figure of 5767. Following closely were the 'Sour Animal Mints Live Sugar (1g)' and 'Purple Urkle Live Resin (1g)', both also from the Concentrates category, ranked second and third respectively. In the Vapor Pens category, the 'Watermelon Kush Distillate Cartridge (1g)' and 'Goji Berry Distillate Disposable (1g)' made it to the top five, ranking fourth and fifth. This shows a notable shift in rankings from previous months, indicating a rising preference for Concentrates among customers.
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