Lit Labs

Data Snapshot: Apr 04, 2024
Lit Labs Cannabis Brand Logo
$100K+

Mar-2024

Sales

Growth

Trend

6-Month

38

Product Count

SKUs

Lit Labs

Overview

Markets

Lit Labs Locations

Product Trends

Lit Labs Categories

Lit Labs Sales

Market Insights Snapshot

Lit Labs Historical Sales by Category

In Michigan, Lit Labs has shown a dynamic performance across different cannabis categories, with notable movements in rankings over the recent months. In the Concentrates category, Lit Labs made a significant leap from a rank of 55 in December 2023 to 26 in January 2024, indicating a strong start to the year. However, the following months saw a slight decline, with the brand positioning at rank 42 in February and 41 in March 2024. This fluctuation in rankings, despite a drop, demonstrates Lit Labs' ability to maintain a top 50 position amidst competitive market dynamics. Conversely, in the Edibles category, the brand experienced a more turbulent journey. Starting at rank 73 in December 2023, Lit Labs remarkably climbed to rank 55 in January, peaked at rank 42 in February, but then experienced a significant drop to rank 63 by March 2024. This volatility suggests challenges in sustaining their market position within the Edibles category over time.

Furthermore, Lit Labs has also ventured into the Topicals market in Michigan, where it has demonstrated a relatively stable performance. The brand maintained its presence within the top 30, starting at rank 23 in December 2023, slightly fluctuating in the subsequent months, and settling at rank 25 by March 2024. This steadiness in the Topicals category contrasts with the brand's performance in Concentrates and Edibles, indicating a potentially strong foothold in this niche market. Notably, the sales figures in February 2024 for Topicals saw an increase to 2384 units, showcasing a peak in consumer interest, despite a later decrease in March. While specific sales details are limited, these rankings and movements highlight Lit Labs' diverse market engagement and the varying degrees of success and challenges faced across different cannabis product categories in Michigan.

Mar-2024 Rank
Concentrates
Edible
Topical
41
63
25
Lit Labs

Competitive Landscape

In the competitive landscape of the concentrates category in Michigan, Lit Labs has shown a notable fluctuation in its market position from December 2023 through March 2024. Initially ranked outside the top 50 in December, Lit Labs made a significant leap to 26th in January, demonstrating a strong upward trajectory in sales and market presence. However, this momentum slightly declined in the following months, with the brand settling at the 41st position by March. Competing brands such as Cannashine showcased remarkable growth, jumping from 39th to 15th place and maintaining a strong sales performance, which highlights the competitive pressure Lit Labs faces. Other competitors like Monster Xtracts and Cloud Cover (C3) experienced fluctuations but remained relatively stable in their rankings, indicating a fiercely competitive market. Rise (MI) demonstrated a significant recovery in March, moving up to 33rd from lower rankings, suggesting that shifts in consumer preferences and brand strategies are rapidly changing the dynamics within the concentrates sector in Michigan. This environment underscores the challenges and opportunities Lit Labs faces as it seeks to improve its market position amidst fluctuating sales and competitive pressures.

Lit Labs market ranking for MI Concentrates

Lit Labs

Notable Products

In March 2024, Lit Labs saw Platinum Zkittles Live Resin (1g) from the Concentrates category reclaim its top spot with impressive sales, peaking at 1415 units. Following closely behind was Strawberry Gummies 10-Pack (100mg) from the Edible category, which experienced a slight rank drop to second place from its previous leading position in February. White Runtz Cured Resin (1g), another product from the Concentrates category, made a notable entry into the top three rankings for the first time in March. Watermelon Gummies (100mg) and Blue Razz Gummies (100mg), both from the Edible category, consistently held their ground within the top five, ranking fourth and fifth, respectively, despite fluctuating sales figures in previous months. These shifts indicate a dynamic market, with Concentrates and Edibles showing strong consumer preference within Lit Labs' product range.

Product Rank
Category
Dec-2023
Jan-2024
Feb-2024
Mar-2024
Platinum Zkittles Live Resin (1g)
Concentrates
>5
1
3
1
Strawberry Gummies 10-Pack (100mg)
Edible
>5
2
1
2
White Runtz Cured Resin (1g)
Concentrates
>5
>5
>5
3
Watermelon Gummies (100mg)
Edible
2
4
4
4
Blue Razz Gummies (100mg)
Edible
3
3
2
5
View product & sales data

Top Selling Cannabis Brands

Simple, transparent pricing that grows with you. Try any plan free for 30 days.
Research the top cannabis brands across markets in the US and Canada.
Header image
User rating
start Today
Connect to Headset

Get Cannabis Market Data