Market Insights Snapshot
As a prominent cannabis brand, Proper Bakehouse has shown some interesting trends in its performance across different categories and states. In the topical category, for instance, the brand has maintained a consistent presence in the top 10 rankings within the state of Michigan from July to October 2023. Despite a slight dip in ranking from 7th in July to 10th in September, the brand managed to recover to the 9th spot in October. This fluctuation in ranking, while still remaining in the top 10, indicates a competitive market but also demonstrates the brand's resilience and steady demand among consumers.
On the sales front, Proper Bakehouse witnessed a downward trend in the months of August and September 2023, with sales dropping from $19,989 in July to $14,137 in September. However, the brand bounced back in October, recording sales of $21,747, which is a significant increase not only from the previous month but also from the starting point in July. This upward trajectory in sales, despite the earlier slump, suggests a strong potential for growth and profitability for the brand in the topical category within the Michigan market.
In the Michigan Topical category, Proper Bakehouse has shown a consistent performance, maintaining its rank within the top 10 brands over the period from July to October 2023. However, it's worth noting that Proper Bakehouse has seen a slight drop in rank from 7th in July to 9th in both September and October. This is in contrast to brands like Rise (MI) and HOH Hempnotize, which have shown an upward trend in their ranks. Vlasic Labs has also shown a steady performance similar to Proper Bakehouse. Interestingly, Mary Jane's Medicinals made a significant jump into the top 20 in September, rising to 11th place by October. In terms of sales, while specific numbers are not disclosed, it's clear that Proper Bakehouse has experienced a fluctuation, with a notable increase in October, indicating a potential recovery and growth.
In October 2023, the top-performing product from Proper Bakehouse was the 'CBD:THC 1:1 Jaguar Balm (1000mg CBD, 1000mg THC)', with sales reaching 285 units. This product has consistently held the top spot since July 2023. The 'CBD/THC 1:1 Jaguar Mini Travel Balm (100mg CBD, 100mg THC)' moved up to the second position in October, with a significant increase in sales from 96 to 260 units. The 'CBD/THC 1:1 Lavender Balm (500mg CBD, 500mg THC)' also improved its rank to third place. The 'CBD:THC 1:1 Lavender Bath Bomb (100mg CBD, 100mg THC)', however, slipped from second to fourth place, with sales dropping to 25 units.