Market Insights Snapshot
Observing the performance of the cannabis brand The Feel Collection in the Tincture & Sublingual category in Michigan, we see a positive trend. In August 2023, the brand does not appear in the top 20, indicating they were not a leading player in the market. However, by October 2023, the brand has made a significant leap to the 21st rank. This is an impressive upward trajectory, further strengthened by their rise to the 17th rank in November 2023. This suggests a growing consumer preference for The Feel Collection's offerings in this category.
It's also worth noting the sales performance of The Feel Collection in this period. While the specific sales figures for August and September are not provided, we see a substantial increase in sales by October, reaching 585 units. This figure nearly quintuples by November, with sales skyrocketing to 3008 units. This substantial growth in sales aligns with the brand's improved ranking, indicating a successful period for The Feel Collection in the Tincture & Sublingual category in Michigan. As we move forward, it will be interesting to monitor whether this positive trend continues.
In the Tincture & Sublingual category in Michigan, The Feel Collection has shown a marked improvement in its ranking, moving from outside the top 20 in August and September 2023 to 21st in October and then up to 17th in November. This upward trend suggests a growing consumer preference for the brand. In contrast, Blooming Botanicals has seen a decline in its ranking over the same period, dropping from 16th to 18th place. CBD Living and HOH Hempnotize have maintained a relatively stable position in the middle of the pack, while Green Gruff has remained steady at the lower end of the top 20. It's important to note that while The Feel Collection's sales in November were lower than its competitors, its improved ranking indicates a positive trajectory for the brand.
In November 2023, the top-performing product from The Feel Collection was the CBD/THC 10:1 Feel Healed Tincture (300mg CBD). This product, belonging to the Tincture & Sublingual category, maintained its top rank from the previous month. A notable sales figure for this product is the significant increase in sales, jumping from 64 in October to 302 in November, indicating a remarkable growth. This suggests a rising demand for this product, as it outperformed all other products in the collection. The consistent top rank and substantial sales growth demonstrate the product's popularity among consumers.