Market Insights Snapshot
In the Concentrates category, LOCO has seen some fluctuation in their rankings within the Michigan market. The brand made a significant leap from the 61st position in July 2023 to the 28th spot in August 2023. However, the following months saw a decline, with LOCO ranking 45th in September and dropping significantly to the 76th place in October. This could indicate a decrease in consumer interest or increased competition within the market. Despite the fluctuating rankings, it's important to note that LOCO still remained within the top 100 brands in the Concentrates category in Michigan.
On a more positive note, LOCO has shown a strong and consistent performance in the Pre-Roll category in Michigan. The brand maintained a position within the top 15 from July to October 2023, peaking at the 8th spot in August. While there was a slight drop to the 14th rank in October, LOCO's consistent presence in the top 20 suggests a steady demand for their Pre-Roll products. However, it's worth noting that there was a slight decrease in sales from September to October, which could be an area to monitor in the coming months.
In the competitive landscape of Pre-Roll category in Michigan, LOCO has seen some fluctuations in its ranking over the period from July to October 2023. Starting at the 10th position in July, it moved up to 8th in August, but then slipped to 11th in September and further to 14th in October. This indicates a downward trend in LOCO's market position. Among its competitors, Higgs has maintained a relatively stable rank, fluctuating between 16th and 22nd. Redemption started stronger than LOCO in July, but saw a significant drop in August and September, before slightly recovering in October. Pleasantrees has maintained a consistent rank around the middle of the pack, while Sapphire Farms started off stronger than LOCO but has seen a steady decline in rank. The sales trend for these brands generally aligns with their ranking, with LOCO experiencing a decline in sales corresponding to its drop in rank.
In October 2023, LOCO's top-performing product was the Grape Ape Infused Pre-Roll (1g), reclaiming its spot as the best seller after falling to the 5th position in September. This product sold 13,017 units in October. Following closely in the second spot was the Sour Tangie Live Resin Infused Pre-Roll (1g), which had been the top product in September. The third best-seller was the Strawberry Cough Infused Pre-Roll (1g), moving up one rank from the previous month. The Berry Gelato Infused Pre-Roll (1g) and Forbidden Fruit Infused Pre-Roll (1g) rounded out the top five, ranking fourth and fifth respectively.