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Feb-2024
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Overview
Market Insights Snapshot
In the competitive landscape of Michigan's cannabis market, Michigan, The Feel Collection has shown a fluctuating performance in the Tincture & Sublingual category. Notably, the brand ranked 18th in November 2023, indicating a presence within the top 20 brands for that month. However, a decline was observed in December 2023, where it fell to the 22nd rank, signifying a temporary exit from the top 20 list. This dip in ranking could be attributed to various market dynamics, including consumer preferences and competitive actions. Despite this setback, The Feel Collection made a comeback in February 2024, securing the 19th position. This recovery suggests a resilience and potential rebound in their market strategy, although they did not make it into the top 20 in January 2024, highlighting an area for improvement and a need for consistent performance to maintain and enhance their market position in Michigan.
Financially, The Feel Collection experienced a notable fluctuation in sales within the Tincture & Sublingual category in Michigan. In November 2023, the brand achieved sales of $2,681, which represents a significant figure in the context of this analysis. However, a dramatic decline in sales was observed in December 2023, dropping to $145. This sharp decrease could reflect the challenges faced by the brand, potentially linked to the decrease in ranking for the same period. Nonetheless, a partial recovery in sales was noted in February 2024, with sales increasing to $1,008. This upward movement in sales, despite not achieving the November 2023 figures, indicates a positive response to possible strategic adjustments made by the brand. The absence of sales data for January 2024 leaves a gap in understanding the full sales trajectory, but the overall trend suggests a volatile but potentially recovering performance for The Feel Collection in the Tincture & Sublingual category in Michigan.
Competitive Landscape
In the competitive landscape of the Tincture & Sublingual category in Michigan, The Feel Collection has experienced notable fluctuations in its market position. Initially ranked 18th in November 2023, it saw a decline to 22nd in December, was not in the top 20 in January 2024, and then slightly improved to 19th in February. This volatility is indicative of the intense competition within this category. Notably, HOH Hempnotize, despite not ranking in December, consistently outperformed The Feel Collection in the months it was ranked, showcasing a stronger market presence. Conversely, Everyday Cannabis showed a more stable performance, maintaining its position within the top 20 and outperforming The Feel Collection in sales and rank for most of the observed period. Green DR and Bossy also presented fluctuating ranks but generally remained competitive. The Feel Collection's inconsistent performance highlights the challenges it faces in securing a stronger foothold in the Michigan market, suggesting a need for strategic adjustments to enhance its market position and sales trajectory.
Notable Products
In February 2024, the top-performing product from The Feel Collection was the CBD/THC 10:1 Feel Healed Tincture (300mg CBD) within the Tincture & Sublingual category, maintaining its number one rank from the previous months with sales figures reaching 104 units. This product has consistently shown strong performance, indicating a steady demand among consumers. There was no mention of other products in the dataset, suggesting that this tincture might be the flagship or most notable offering from The Feel Collection for the period in question. The sales figure for this product, although lower than in November 2023, underscores its ongoing popularity. This analysis highlights the importance of the CBD/THC 10:1 Feel Healed Tincture to The Feel Collection's sales strategy and its appeal to the market.
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