.svg){kind=small}
Aug-2024
Sales
Trend
6-Month
Product Count
SKUs
Overview
Market Insights Snapshot
Rise (MI) has shown a consistent performance across various categories in Michigan. In the Capsules category, Rise (MI) has maintained a strong presence, fluctuating between the first and second positions from May to August 2024, indicating a stable demand for their products. The sales figures for Capsules, while slightly variable, demonstrate a healthy market interest with a notable peak in May. In contrast, their ranking in the Concentrates category has seen significant improvement, jumping from 39th in May and June to 21st in August, which suggests a growing consumer base and increased product acceptance in this segment.
In the Tincture & Sublingual category, Rise (MI) has maintained a steady second position throughout the four-month period, reflecting consistent consumer preference and product reliability. However, their performance in the Topical category, while stable at the fourth position, indicates room for growth and potential market expansion. The sales figures in this category have shown an upward trend, particularly between June and July, indicating increased consumer interest and potential for further market penetration. The absence of Rise (MI) from the top 30 brands in some other categories suggests areas where the brand could focus on improving visibility and market share.
Competitive Landscape
In the Michigan concentrates market, Rise (MI) has shown a notable upward trajectory in rank over the summer of 2024, moving from 39th place in May and June to 21st place by August. This significant improvement in rank is accompanied by a substantial increase in sales, from $129,749 in May to $215,668 in August. In comparison, Element experienced a more volatile performance, fluctuating between 24th and 29th place, and ending August just one rank below Rise (MI) at 22nd. Goodlyfe Farms also saw a decline in rank from 20th in June to 23rd in August, despite having higher sales figures than Rise (MI) in May and June. Meanwhile, Bowhouse and Feefers have both seen a downward trend, with Bowhouse dropping from 6th place in June to 20th in August, and Feefers maintaining a relatively stable but lower rank around 19th. This data indicates that Rise (MI) is gaining significant traction in the Michigan concentrates market, potentially outpacing some of its more established competitors.
Notable Products
In August 2024, the top-performing product from Rise (MI) was the CBD/THC/THCa 1:2:1 Advanced Strength Cream (750mg CBD, 1500mg THC, 750mg THCa) in the Topical category, maintaining its first-place rank from the previous three months with a notable sales figure of 1397. The THC Tincture (200mg) in the Tincture & Sublingual category climbed to second place from fifth in July, showing a significant increase in sales. The Hybrid RSO Dart (1g) in the Concentrates category held third place, down from second in July. The Hybrid Distillate Dart (1g), also in the Concentrates category, moved up to fourth place after reappearing in the rankings. The RSO (1g) in the Concentrates category dropped to fifth place from second in July, reflecting a decrease in its sales momentum.
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.
