Market Insights Snapshot
Starting with the performance of the Market brand in Michigan, it's clear that the brand has a strong presence in the Vapor Pens category. Despite a slight drop in ranking from 14th in July to 18th in October 2023, the brand maintained its position within the top 20. This indicates a steady demand for Market's Vapor Pens in Michigan, even though there was a noticeable decrease in sales over the same period. In the Concentrates category, however, Market wasn't able to secure a position in the top 20 after August, which could signify a decrease in popularity for this category of products in Michigan.
Shifting our focus to the Edible category, Market showed some resilience in Michigan. From July to October 2023, the brand's ranking fluctuated between the 66th and 80th positions, peaking at the 66th spot in September. This could indicate a potential opportunity for growth in the Edible category. However, the absence of a ranking for the brand in the Concentrates category for September and October 2023 might be a point of concern. It could suggest that Market's products in this category were not among the top 20 most popular in these months, which may require strategic adjustments to improve their market standing in this category.
In the Vapor Pens category in Michigan, the cannabis brand Market has seen a slight dip in its ranking from July to October 2023, moving from 14th to 18th place. This is in contrast to competitors like Flav which has seen a significant improvement, climbing from 65th to 17th place within the same period. Another competitor, Church Cannabis Co., has maintained a steady position in the top 20, while True North Collective has experienced a slight fluctuation in its ranking. Interestingly, Play Cannabis has made a notable leap from 82nd to 19th place. While Market's sales have been higher than these competitors, the brand has been experiencing a downward trend, which may be a factor in its ranking decline.
In October 2023, the top-performing products from Market were all in the Vapor Pens category. The Orange Gelato Distillate Cartridge (1g) ranked first, with a remarkable sales figure of 7164 units. Following closely behind were the Honey Crisp and Caribbean Haze Distillate Cartridges (1g), ranking second and third respectively. The fourth and fifth spots were occupied by the Berry Gushers and Guava Jam Distillate Cartridges (1g). Compared to previous months, these products have seen a significant rise in rankings, indicating a growing preference among consumers.