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Jun-2024
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Overview
Market Insights Snapshot
Little Tree has experienced noticeable fluctuations in its performance across different categories and states. In Michigan, the brand's ranking in the Edible category has seen a decline over the past few months. Starting from a rank of 13 in March 2024, Little Tree dropped to 22 by June 2024. This downward movement is reflected in their sales figures, which decreased from $619,530 in March to $387,689 in June. This trend indicates a challenging market for Little Tree in Michigan's Edible category, suggesting that the brand may need to reassess its strategy to regain its position.
It is also important to note that Little Tree did not make it into the top 30 brands in several other states and categories during this period, which could be seen as a negative indicator of their broader market penetration. However, the brand's presence in the top 30 in Michigan's Edible category, despite the decline, shows some level of competitiveness in at least one major state market. This mixed performance highlights a need for strategic adjustments and perhaps a focus on specific markets where the brand has previously seen success. For a more detailed analysis of Little Tree's performance in other states and categories, further data would be required.
Competitive Landscape
In the competitive landscape of the Michigan edible cannabis market, Little Tree has experienced notable fluctuations in rank and sales over recent months. From March to June 2024, Little Tree's rank declined from 13th to 22nd, indicating a significant drop in market positioning. This decline contrasts with the performance of competitors such as Midnight Bar, which improved its rank slightly from 25th to 23rd, and Banned Cannabis Edible Co., which maintained a relatively stable position, moving from 18th to 20th. Meanwhile, True North Collective saw a more gradual decline from 9th to 21st, suggesting that the competitive pressures in the market are affecting multiple brands. The sales trends for Little Tree also reflect this competitive pressure, with a noticeable decrease from March's peak to June's lower figures. These shifts highlight the dynamic nature of the Michigan edible market and suggest that Little Tree may need to reassess its strategies to regain its competitive edge.
Notable Products
In June 2024, the top-performing product from Little Tree was Red Razz Live Resin Gummies 10-Pack (200mg), which climbed to the number one spot with sales of 13,444 units. Pineapple Live Resin Gummies 10-Pack (200mg) followed closely in second place, showing a slight drop from its previous top rank in May. Cherry Gummies 10-Pack (200mg) secured the third position, maintaining a consistent performance over the months. Grape Live Resin Gummies 10-Pack (200mg) ranked fourth, showing a notable improvement from its fifth position in April. Blue Razz Hash Rosin Gummies 10-Pack (200mg) slipped to fifth place, experiencing a significant decline in sales compared to earlier months.
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