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Overview
Market Insights Snapshot
When it comes to the performance of Lake & Leaf Cannabis Co., the brand has seen some fluctuation in its rankings in the Topical category within the state of Michigan. In May 2023, the brand held steady at the 12th position, maintaining this same spot in June. However, July saw the brand climb slightly to the 11th spot. Unfortunately, this upward movement did not continue into August, with the brand dropping to the 17th rank. This drop in ranking could indicate increased competition or changes in consumer preferences.
In terms of sales, while we won't give away all the details, we can highlight a key trend. Lake & Leaf Cannabis Co. experienced a peak in sales in June 2023. However, this was followed by a decline in the subsequent months of July and August. It's important to note that despite the decrease in sales, the brand remains in the top 20 for the Topical category in Michigan. The downward trend in sales is something to watch closely in the coming months as it may impact the brand's ranking further if it continues.
Competitive Landscape
In the Topical category within Michigan, Lake & Leaf Cannabis Co. has seen a slight decline in its ranking from May to August 2023, moving from 12th to 17th place. This indicates a potential drop in sales, as the brand has been surpassed by competitors such as Earthbound Remedies and Meg & Zen, which have improved their rankings over the same period. Notably, Bossy has shown a significant drop in rank, moving from 10th to 18th place, while CURE has maintained a fairly stable position. These shifts in the competitive landscape suggest that Lake & Leaf Cannabis Co. may need to reassess its market strategy to regain its previous standing.
Notable Products
In August 2023, the top-performing product from Lake & Leaf Cannabis Co. was the 'Sleeping Bear Salve (300mg THC, 1oz)', a topical product that sold 107 units. This product significantly improved its ranking from fifth place in July to first in August. The 'Sleeping Bear Salve (1000mg THC, 3oz)' also performed well, maintaining a strong presence in the top three since July. The 'Humboldt Headband CO2 Cartridge (1g)' and 'Fatso CO2 Cartridge (1g)' from the Vapor Pens category, and the 'GMO Zkittles Pre-Roll (0.5g)' from the Pre-Roll category rounded out the top five products for August. Notably, the 'Fatso CO2 Cartridge (1g)' and 'GMO Zkittles Pre-Roll (0.5g)' made their first appearances in the top five this month.
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