.svg){kind=small}
Mar-2024
Sales
Trend
6-Month
Product Count
SKUs
Overview
Market Insights Snapshot
In Michigan, Rise (MI) has shown a stable and commendable performance across several cannabis product categories, with particularly strong showings in Capsules and Tincture & Sublingual categories. Notably, the brand maintained its 2nd place ranking consistently from December 2023 through March 2024 in both categories. This consistency in top-tier ranking, accompanied by a significant sales increase in Capsules from 35,950 in December 2023 to 56,980 in March 2024, underscores the brand's solid market presence and consumer trust in these segments. However, the performance in the Concentrates category tells a different story, with rankings slipping from 29th in December 2023 to a low of 51st in February 2024, before making a partial recovery to 33rd in March. This volatility suggests challenges in maintaining market share amidst competitive pressures within the Concentrates space.
On the other hand, the Topical category has seen some fluctuation in Rise (MI)'s standings, moving from 5th place in December 2023 to 8th by March 2024. While still remaining within the top 10, this slight downward trend, paired with a decrease in sales from 48,610 to 27,130 over the same period, might indicate a need for strategic adjustments to bolster its position and performance in this category. Despite these variances across categories, Rise (MI) demonstrates a strong foothold in the Michigan market, especially in areas where they've managed to secure and hold onto top rankings. These insights suggest a brand that, while facing some category-specific challenges, has a significant and impactful presence, particularly in Capsules and Tincture & Sublingual products, showcasing its ability to meet consumer demand effectively in these areas.
Competitive Landscape
In the competitive landscape of the concentrates category in Michigan, Rise (MI) has experienced a fluctuating trajectory in terms of rank and sales from December 2023 to March 2024. Initially not in the top 20, Rise (MI) saw a decline in rank from December to February before making a significant jump back up in March. This volatility is contrasted with the performance of competitors such as Cannashine, which after a remarkable rise in rank from December to January, maintained a strong position in February and experienced only a slight drop by March. Similarly, Rollganic showed impressive growth, moving up from not being in the top 20 to securing a higher rank than Rise by March. Distro 10 and Lit Labs also displayed notable movements in the rankings, with Distro 10 achieving a significant sales peak in February. These dynamics suggest a highly competitive environment for Rise (MI), with the need to closely monitor competitors' strategies and market responses to regain and maintain a stronger position in Michigan's concentrates market.
Notable Products
In March 2024, Rise (MI) saw the THC Tablets 10-Pack (100mg) from the Capsules category leading their sales with a total of 2037 units sold, maintaining its top position from February. The Hybrid RSO Dart (1g) from Concentrates made a significant jump to the second rank in March, despite not being ranked in February, showcasing a notable increase in consumer interest. The CBD Tablets 30-Pack (300mg CBD), also in the Capsules category, climbed to the third position, up from fourth in February, indicating a steady demand for CBD products. Interestingly, the CBG Tablets 10-Pack (100mg CBG) made its debut in the rankings directly in the fourth position, highlighting a growing market for CBG offerings. Lastly, the THC Tincture (200mg) from the Tincture & Sublingual category slipped to the fifth rank in March from its second position in February, suggesting a shift in consumer preferences within the product lineup of Rise (MI).
Top Selling Cannabis Brands
