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Jun-2024
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Overview
Market Insights Snapshot
Proper Bakehouse has shown a consistent performance in the Michigan Topical category over the past few months. The brand maintained its 7th position in March and April, briefly dipped to 9th in May, and then returned to 7th in June. This movement indicates a resilient presence in the market despite fluctuations. The sales figures reflect this trend, with a notable dip in May but a recovery in June. The ability to rebound quickly is a positive sign for Proper Bakehouse's market stability in Michigan's competitive Topical category.
However, it's important to note that Proper Bakehouse's ranking within the top 30 brands in other states or categories is absent, suggesting areas for potential improvement or lack of market penetration. This absence can be interpreted as a challenge for the brand to expand its footprint beyond Michigan or diversify its product offerings to climb the ranks in other categories. The focus for Proper Bakehouse should be on leveraging its strengths in Michigan to explore new markets and categories where it currently does not have a significant presence.
Competitive Landscape
In the competitive landscape of Michigan's topical cannabis market, Proper Bakehouse has experienced fluctuations in its rank and sales over recent months. In March 2024, Proper Bakehouse held the 7th rank, which remained consistent in April but dropped to 9th in May before recovering to 7th in June. This volatility contrasts with the steady performance of Rise (MI), which climbed from 8th in March to 5th in April and maintained that position through June. Meanwhile, Michigan Organic Rub consistently held the 6th position from April to June, after starting at 5th in March. The sales data indicates that Proper Bakehouse's sales peaked in April at $28,443 but saw a notable dip in May to $18,596, before slightly recovering to $23,949 in June. This contrasts with Neno's Naturals, which experienced a more stable sales trend, albeit with a slight decline from $31,435 in March to $23,366 in June. The absence of HOH Hempnotize from the top 20 ranks in March, April, and May, only appearing in June at 9th, further highlights the competitive dynamics in this market. Proper Bakehouse's fluctuating rank and sales suggest a need for strategic adjustments to maintain and improve its market position against these competitors.
Notable Products
In June 2024, Proper Bakehouse's top-performing product was the CBD/THC 1:1 Jaguar Mini Travel Balm (100mg CBD, 100mg THC), which saw a significant sales increase to 345 units, climbing from the fourth position in May. The CBD:THC 1:1 Jaguar Balm (1000mg CBD, 1000mg THC) maintained a strong performance, ranking second, although it dropped from the top spot held in March and April. The CBD/THC 1:1 Lavender Balm (500mg CBD, 500mg THC) secured the third position, down from its peak at number one in May. The CBD/THC 1:1 Lavender Travel Mini Balm (50mg CBD, 50mg THC) rounded out the top four, maintaining a consistent rank. Overall, June saw notable shifts in rankings, particularly with the Jaguar Mini Travel Balm's rise to the top.
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