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Jun-2024
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Overview
Market Insights Snapshot
The Factory has shown a consistent performance in the Pre-Roll category in Michigan. Over the past four months, the brand's ranking has fluctuated slightly, moving from 13th in March 2024 to 15th in April, then climbing back up to 14th in May, and maintaining the 13th position in June. This indicates a stable presence within the top 15 brands in the state. Notably, The Factory's sales figures have shown a positive trend, increasing from $610,462 in March to $775,332 in June. This upward trajectory in sales, despite minor fluctuations in ranking, suggests a growing consumer preference and market penetration in Michigan's Pre-Roll segment.
While The Factory has managed to stay within the top 15 in Michigan, its absence from the top 30 in other states and categories could be seen as a missed opportunity or an area for potential growth. The brand's focused presence in Michigan's Pre-Roll category shows strength in a specific niche market, but diversification across other states and product categories could enhance its overall market standing. The lack of rankings in other regions highlights the need for strategic expansion and possibly, product innovation to capture a broader audience. Exploring these avenues could potentially elevate The Factory's brand visibility and market share beyond Michigan.
Competitive Landscape
In the competitive landscape of the Michigan pre-roll category, The Factory has shown a relatively stable performance, maintaining a rank within the top 20 brands over the past four months. Despite a slight dip in April 2024 to rank 15, The Factory rebounded to rank 13 by June 2024. This stability is notable when compared to competitors like Doobies, which saw a significant fluctuation, dropping out of the top 20 in April but surging to rank 11 in May. Meanwhile, Magic has consistently ranked higher than The Factory, although its sales have shown a downward trend. Another interesting competitor is Rare Michigan Genetics, which made a dramatic leap from outside the top 20 to rank 11 in June. Lastly, Play Cannabis has shown steady improvement, consistently climbing in sales and maintaining a rank close to The Factory. These dynamics suggest that while The Factory's position is relatively stable, there is significant movement among competitors, indicating a highly competitive market where strategic adjustments could yield substantial gains in rank and sales.
Notable Products
In June 2024, the top-performing product for The Factory was Sherbet Cake Pre-Roll (1g) with a sales figure of $42,414. Melonade Pre-Roll (1g) followed closely in the second position, showing a significant rise from its fifth place in April to third in May. Blueberry Cookies Pre-Roll (1g) debuted in the rankings at the third spot. Grease Monkey Pre-Roll (1g) maintained a steady presence, securing the fourth position. Gelato #41 Pre-Roll (1g) entered the rankings at fifth place, demonstrating strong performance among new entries.
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