Market Insights Snapshot
In the Michigan market, Neno's Naturals seems to have a consistent presence across various categories. Particularly in the Capsules category, the brand has maintained a steady position in the top 5, despite a slight dip in sales in August 2023. This demonstrates a strong consumer base for Neno's Naturals in this category. The brand also shows promising performance in the Topical category, where it fluctuates between the 4th and 6th ranks, with sales peaking significantly in August 2023. This indicates a potential growth area for the brand.
On the other hand, Neno's Naturals' performance in the Edible category in Michigan shows room for improvement. The brand was not ranked in the top 20 in July and August 2023, but managed to secure a spot in the 90s in the following months. This could suggest a recent entry or re-entry into this category, or a potential pivot in the brand's strategy. In the Tincture & Sublingual category, Neno's Naturals has managed to hold onto the 11th rank, before making an upward move to 8th in October 2023. This could be indicative of a positive trend for the brand in this category.
In the Topical category within Michigan, Neno's Naturals has seen a fluctuating performance over the months of July to October 2023. The brand started off in 6th place in July, then rose to 4th in August and September, before slipping to 5th in October. This indicates a competitive market with brands like Michigan Organic Rub and Escape Artists consistently ranking higher. Interestingly, Rise (MI) was not even in the top 20 in July but managed to surpass Neno's Naturals by October. Another competitor, Zilla's, maintained a steady performance, always ranking close to Neno's Naturals. While the specific sales numbers are not disclosed, the data suggests that Neno's Naturals experienced a significant sales boost in August, but couldn't maintain this momentum in the following months.
In October 2023, the top-performing product from Neno's Naturals was the THC Transdermal Patch (30mg), which climbed back to the first rank after dropping to third in September. It recorded a notable sales figure of 6617 units. The second-best performer was the CBD/THC 3:1 Calm Transdermal Patch (30mg CBD, 10mg THC), maintaining its previous month's rank. The CBD/THC 1:1 Balance Transdermal Patches (15mg CBD, 15mg THC), which was the top performer in August and September, slipped to the third position. The CBD Revive Transdermal Patch (30mg CBD) and CBD:THC 1:1 Balance Capsules 20-Pack (100mg CBD, 100mg THC) held the fourth and fifth ranks respectively.