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May-2024
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Overview
Market Insights Snapshot
Thunder Canna's performance across various categories in Michigan shows a mix of upward and downward trends. In the Edible category, the brand's ranking fluctuated, peaking at 30th place in March 2024 before slipping to 32nd by May 2024. This indicates that while Thunder Canna managed to break into the top 30, sustaining that position has been challenging. Despite this, the sales figures for Edibles show a positive trend, with a notable increase from $184,348 in February to $236,320 in May. This suggests that while the brand's relative ranking might have dipped, the overall market demand for their Edibles remains strong.
In the Vapor Pens category, Thunder Canna experienced more volatility. The brand ranked 26th in February 2024 but fell out of the top 30 in March, dropping to 59th place. Although it managed to recover somewhat to 40th in April and 46th in May, this inconsistency highlights potential challenges in maintaining a steady market presence. Sales for Vapor Pens also reflect this instability, with a significant drop from $384,511 in February to $193,305 in May. This downward trend in sales and ranking indicates that Thunder Canna may need to reassess its strategy in the Vapor Pens category to regain and stabilize its market position.
Competitive Landscape
In the competitive landscape of the Michigan edible cannabis market, Thunder Canna has shown a consistent presence but faces stiff competition. Over the past few months, Thunder Canna's rank has fluctuated, moving from 34th in February 2024 to 32nd in May 2024. This indicates a relatively stable but slightly improving position. However, competitors like Banned Cannabis Edible Co. and Galactic (fka Galactic Meds) have demonstrated more dynamic growth, with Banned Cannabis Edible Co. consistently ranking higher, peaking at 27th in March 2024 and maintaining a strong 30th position in May 2024. Meanwhile, Magic has shown steady performance, hovering around the mid-30s, and Petra has seen a slight decline from 32nd in February 2024 to 33rd in May 2024. These trends suggest that while Thunder Canna is holding its ground, it needs to innovate and possibly increase its marketing efforts to climb higher in the rankings and boost sales further.
Notable Products
In May-2024, the top-performing product from Thunder Canna was Magnificent Mango Gummies 10-Pack (200mg), which regained its number one spot with a notable sales figure of 10,382 units. Following closely in second place were Powerful Pineapple Gummies 10-Pack (200mg), which showed a significant rise from fourth place in March-2024. Optimal Orange Cream Gummies 10-Pack (200mg) debuted impressively in third place. Groovy Grape Gummies 10-Pack (200mg) slipped to fourth place after previously holding the top spot in March-2024. Classic Cherry Gummies 10-Pack (200mg) consistently performed well, maintaining a position in the top five, though it fell slightly to fifth place in May-2024.
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