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Aug-2024
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Overview
Market Insights Snapshot
Shattered Thoughts has shown a consistent presence in the Michigan market, specifically within the Edible category. Over the past four months, the brand has fluctuated in its ranking but has managed to stay within the top 30. In May 2024, Shattered Thoughts was ranked 21st, improving to 16th in June, and then slightly dropping to 20th in both July and August. This indicates a relatively stable performance despite minor fluctuations. Notably, the brand's sales peaked in June, reaching $469,000, which suggests a strong mid-year performance that slightly tapered off in the following months.
While Shattered Thoughts has maintained its ranking within the top 30 in Michigan, it is important to note that its absence from the top 30 in other states or provinces could be seen as a potential area for growth or a point of concern. The consistency in Michigan underscores the brand's established presence in that market, but the lack of visibility in other regions implies that there might be untapped potential or competitive challenges elsewhere. Keeping an eye on future movements and any strategic expansions will be crucial for understanding the brand's overall market performance.
Competitive Landscape
In the competitive landscape of the Michigan edible cannabis market, Shattered Thoughts has shown a dynamic performance over the past few months. Despite a slight dip in July 2024, where it ranked 20th, Shattered Thoughts managed to maintain its position in the top 20, unlike Mitten Extracts and Little Tree, which both fell out of the top 20 in some months. Notably, Shattered Thoughts saw a significant boost in June 2024, climbing to the 16th rank, which correlates with a peak in sales for that month. In contrast, High Minded experienced a downward trend, dropping from 13th in May and June to 21st in August 2024. Similarly, Lost Farm showed a consistent decline, ending at 22nd in August. This competitive analysis highlights Shattered Thoughts' resilience and potential for growth, making it a brand to watch in the evolving Michigan edibles market.
Notable Products
In August 2024, the top-performing product from Shattered Thoughts was Cherry Berry Gummies 10-Pack (200mg), maintaining its first-place rank with notable sales of $12,503. Peaches And Cream Gummies 10-Pack (200mg) secured the second position, a slight drop from its peak in June. Blueberry Lemonade Gummies 10-Pack (200mg) showed a significant recovery, climbing to third place from fifth in July. Strawberry Cream Gummies 10-Pack (200mg) saw a decline, moving down to fourth place from its consistent second-place ranking earlier. Notably, Ruby Limeapple Gummies 10-Pack (200mg) debuted in fifth place, indicating a promising entry into the market.
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.
