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Aug-2024
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Overview
Market Insights Snapshot
The Factory's performance in the Pre-Roll category within Michigan has shown a noticeable downward trend over the summer months of 2024. Starting at a rank of 14 in May, the brand has seen a gradual decline, slipping to rank 24 by August. This movement indicates a loss in competitive positioning within the state, which could be a cause for concern. Despite the initial higher sales figures in May, the subsequent months have not maintained this momentum, reflecting a potential challenge in sustaining consumer interest or facing increased competition.
It is noteworthy that The Factory did not make it into the top 30 brands in some other states and categories, which can be seen as a significant setback for the brand's overall market presence. This absence suggests that while they have a foothold in Michigan, their influence and performance are limited elsewhere. Understanding the dynamics behind this performance, such as regional preferences or competitive strategies, could provide deeper insights into their market challenges and opportunities.
Competitive Landscape
In the highly competitive Michigan pre-roll category, The Factory has experienced notable fluctuations in rank and sales over the past few months. Starting at rank 14 in May 2024, The Factory saw a gradual decline to rank 24 by August 2024. This downward trend in rank correlates with a decrease in sales from $656,399 in May to $440,241 in August. In contrast, competitors such as LOCO and Skymint have shown more stable or improving performance. For instance, LOCO maintained a relatively steady rank, fluctuating between 18 and 22, while its sales peaked at $594,549 in July. Similarly, Skymint's rank improved from 28 in June to 23 in August, with a corresponding increase in sales. Another competitor, Galactic (fka Galactic Meds), showed significant improvement, climbing from rank 51 in May to 25 in August, indicating a strong upward trajectory. These trends suggest that The Factory may need to reassess its market strategies to regain its competitive edge in the Michigan pre-roll market.
Notable Products
In August 2024, Orange Cookies Pre-Roll (1g) emerged as the top-performing product for The Factory, securing the number one rank with notable sales of $21,033. Birthday Cake Pre-Roll (1g) followed closely, ranking second. Lime OG Pre-Roll (1g) took the third spot, showing strong performance. Rainbow Chip Pre-Roll (1g) ranked fourth, slightly dropping from its fifth position in June 2024. Face Off OG Pre-Roll (1g) maintained a consistent presence in the top five, ranking fifth in both May and August 2024.
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.
