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Aug-2024
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Overview
Market Insights Snapshot
LOCO's performance in the Michigan market shows a mixed trend across different categories. In the Concentrates category, LOCO has seen a significant decline, falling out of the top 30 brands by August 2024. This is a notable drop from its 58th position in May 2024, indicating a downward trend in consumer preference or market competition. Conversely, LOCO's presence in the Pre-Roll category remains relatively stable, maintaining its position within the top 30 brands throughout the summer months. This stability could suggest consistent consumer demand or effective marketing strategies in this category.
Focusing on the Pre-Roll category in Michigan, LOCO has shown promising growth. The brand improved its ranking from 22nd in May 2024 to 18th in July 2024, before returning to 22nd in August. This fluctuation within the top 30 indicates a competitive but favorable market position. However, the absence of LOCO from the top 30 in the Concentrates category by August 2024 is concerning and may require strategic adjustments. Overall, LOCO's mixed performance across categories in Michigan highlights the need for targeted efforts to sustain and improve its market presence.
Competitive Landscape
In the competitive landscape of the Michigan pre-roll category, LOCO has shown notable fluctuations in its ranking and sales over the past few months. Despite a dip in August 2024, where LOCO fell to the 22nd position, the brand experienced a peak in July 2024, climbing to the 18th spot. This rise was accompanied by a significant increase in sales, indicating strong consumer demand during that period. In contrast, The Factory has seen a consistent decline, dropping out of the top 20 in August 2024, which could suggest a potential opportunity for LOCO to capture more market share. Meanwhile, Sapphire Farms has maintained a relatively stable position, hovering around the 20th rank, and Skymint has shown a slight upward trend, although still trailing behind LOCO in terms of rank. HY-R also presents an interesting case, with a notable rebound in August 2024, jumping from the 29th to the 21st position. These dynamics highlight the competitive nature of the market and underscore the importance of strategic positioning for LOCO to sustain and improve its market presence.
Notable Products
In August 2024, the top-performing product from LOCO was Berry Gelato Infused Pre-Roll (1g), maintaining its first-place ranking from May and June, with sales reaching 11,436 units. Sour Tangie Live Resin Infused Pre-Roll (1g) took the second spot, previously being the top product in July. Strawberry Cough Infused Pre-Roll (1g) secured the third position, showing a slight decline from its second place in June. Forbidden Fruit Infused Pre-Roll (1g) ranked fourth, down from its third place in July. Watermelon Zkittles Infused Pre-Roll (1g) made its debut in the rankings at fifth place, indicating a strong entry into the market.
Top Selling Cannabis Brands
Data for this report comes from real-time sales reporting by participating cannabis retailers via their point-of-sale systems, which are linked up with Headset’s business intelligence software. Headset’s data is very reliable, as it comes digitally direct from our partner retailers. However, the potential does exist for misreporting in the instance of duplicates, incorrectly classified products, inaccurate entry of products into point-of-sale systems, or even simple human error at the point of purchase. Thus, there is a slight margin of error to consider. Brands listed on this page are ranked in the top twenty within the market and product category by total retail sales volume.
