Market Insights Snapshot
In the Michigan market, Shattered Thoughts has shown a notable performance across different cannabis categories, with a particularly strong presence in the Edible category. From October 2023 to January 2024, the brand climbed from a rank of 23 to 17, showcasing a significant upward trajectory. This improvement is underscored by a sales increase from approximately $333,332 in October 2023 to $377,976 in January 2024. The brand's consistent rankings in the top 25 throughout these months highlight its solid stance within the Michigan edible market. However, in the Pre-Roll category, the brand faced challenges, with rankings starting at 90 in October 2023 and slightly improving to 78 by November but still not breaking into the top 20 by December 2023 and missing data for January 2024, indicating a potential drop-off in market presence or a strategic shift in focus towards more successful categories.
While Shattered Thoughts has demonstrated growth and resilience in Michigan's Edible category, its journey in the Pre-Roll sector tells a different story. The absence of a ranking for January 2024 in the Pre-Roll category could suggest a variety of strategic outcomes, including a possible reduction in focus on this category or challenges in competing within this space. This contrast between the brand's performance in Edibles versus Pre-Rolls in Michigan offers valuable insights into market dynamics and consumer preferences. The brand's ability to improve and maintain a strong position in the Edibles category, coupled with its struggles in the Pre-Roll market, paints a complex picture of Shattered Thoughts' overall market strategy and execution in adapting to consumer demands and competitive pressures.
In the competitive landscape of the edible cannabis market in Michigan, Shattered Thoughts has shown a notable upward trend in its ranking from October 2023 to January 2024, moving from 23rd to 17th place. This improvement suggests a growing consumer preference for Shattered Thoughts amidst stiff competition. Notably, Monster Xtracts experienced a decline, dropping from 10th to 19th place, which could indicate shifting market dynamics that favor Shattered Thoughts. On the other hand, Fresh Coast made significant gains, moving from outside the top 20 into 15th place, showcasing a potential threat with its upward trajectory. Similarly, Ozone and Mojo (Edibles) have shown fluctuations but remained relatively stable, ranking 16th and 18th respectively in January 2024. This competitive analysis highlights the dynamic nature of the edible cannabis market in Michigan, with Shattered Thoughts making positive strides, but also facing increasing competition from brands like Fresh Coast, which are rapidly gaining ground.
In January 2024, Shattered Thoughts saw Cherry Berry Gummies 10-Pack (200mg) as its top-selling product, maintaining its position from December 2023 with sales figures reaching 6634 units. Following closely, Blueberry Lemonade Gummies 10-Pack (200mg) claimed the second spot, improving its rank from third in December to second, showcasing a strong consumer preference shift towards this flavor. The third position was taken by Blue Bahama Gummies (200mg), which showed a notable improvement, moving up two ranks from its previous fifth position in December. Peaches And Cream Gummies 10-Pack (200mg) and Strawberry Cream Gummies 10-Pack (200mg) rounded out the top five, securing the fourth and fifth positions respectively, indicating a slight shift in consumer preferences within the edible category. These rankings highlight a dynamic market with varying consumer tastes, but a consistent preference for edible products from Shattered Thoughts.