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Aug-2024
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Overview
Market Insights Snapshot
Neno's Naturals has shown a notable performance in the Michigan market, particularly in the Tincture & Sublingual category. Over the span from May to August 2024, the brand has consistently ranked within the top 6, peaking at the 5th position in August. This steady performance indicates a strong foothold in the market despite a slight dip in sales in June and July. The upward movement to the 5th position in August suggests a potential resurgence or effective marketing strategy that has resonated well with consumers.
In the Topical category within Michigan, Neno's Naturals has experienced more volatility. Initially ranked 7th in May, the brand saw a dip to the 9th position in June but quickly rebounded to the 6th position by July and maintained this rank through August. The sales data reflects a significant spike in July, which could be attributed to a successful product launch or promotional campaign. The ability to recover and maintain a higher ranking after a drop indicates resilience and a strong market presence in this category.
Competitive Landscape
In the Michigan Topical category, Neno's Naturals has shown notable fluctuations in rank and sales over the past few months. Starting at rank 7 in May 2024, Neno's Naturals dropped to rank 9 in June but rebounded to rank 6 by July and maintained this position in August. This indicates a competitive but volatile market presence. Compared to consistent top performers like Rise (MI), which held the 4th rank consistently, Neno's Naturals has room for improvement in stability. Meanwhile, Vlasic Labs also maintained a steady 5th rank, suggesting that Neno's Naturals could benefit from strategies that enhance consistent performance. Additionally, brands like HOH Hempnotize and Made By A Farmer have shown sporadic rankings, indicating that Neno's Naturals is outperforming some competitors but still faces challenges from more stable brands. Understanding these dynamics can help Neno's Naturals strategize better to improve its market position.
Notable Products
In August 2024, the top-performing product for Neno's Naturals was the THC Transdermal Patch (30mg), maintaining its rank at number one with sales of $5,825. The CBD/THC 3:1 Calm Transdermal Patch (30mg CBD, 10mg THC) held steady at the second position, showing an increase in sales from previous months. The CBD/THC 3:1 CBD Sweet Mint Calm Tincture (150mg CBD, 50mg THC) climbed to the third spot, up from fourth in July. The CBD/THC 1:1 Sweet Mint Tincture (100mg CBD, 100mg THC) improved its ranking to fourth, up from fifth in July. Lastly, the Lavender Tincture (200mg) entered the top five at the fifth position, despite fluctuating rankings in prior months.
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.
