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Aug-2024
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Overview
Market Insights Snapshot
Top Smoke has shown a notable performance in the Pre-Roll category across different states, with a particular focus on Michigan. In Michigan, the brand maintained a steady presence within the top 10 rankings from May to July 2024, before experiencing a slight drop to the 13th position in August 2024. This decline is reflected in their sales, which decreased from $1,154,639 in May to $817,023 in August, indicating a trend that could be worth monitoring. The consistent top 10 placements, however, highlight the brand's resilience in a competitive market, even as it faces challenges.
It is important to note that Top Smoke did not appear in the top 30 rankings for any other state or category during this period. This absence suggests potential areas for growth or the need for strategic adjustments in other markets. The brand's performance in Michigan's Pre-Roll category is a strong indicator of its potential, but the lack of presence elsewhere could be seen as a missed opportunity or a sign of market saturation. Observing how Top Smoke adapts and expands its reach in the coming months will be crucial for understanding its long-term viability and success.
Competitive Landscape
In the competitive landscape of the Michigan Pre-Roll category, Top Smoke has experienced notable fluctuations in rank and sales over the past few months. Starting from a strong position at rank 9 in May 2024, Top Smoke saw a gradual decline, falling to rank 13 by August 2024. This drop in rank is accompanied by a decrease in sales, from a peak in May to significantly lower figures in August. In contrast, competitors like Doobies and Magic have maintained relatively stable positions, with Magic even improving its rank from 12 to 11 over the same period. Additionally, Presidential has shown a consistent upward trend, moving from rank 17 in May to 14 in August. The emergence of Rare Michigan Genetics, which jumped from outside the top 20 in May to rank 14 in June, further intensifies the competition. These dynamics suggest that while Top Smoke remains a key player, it faces increasing pressure from both established and emerging brands, necessitating strategic adjustments to regain and sustain its market position.
Notable Products
In August 2024, the top-performing product for Top Smoke was Trufflez Pre-Roll (1g), which secured the number one rank with notable sales of $16,733. White Runtz Pre-Roll (1g) followed closely at the third rank, dropping from its first position in July 2024. Wedding Cake Pre-Roll (1g) climbed to the second rank from fourth in July 2024. Zkittles Pre-Roll (1g) experienced a significant drop, moving from the top spot in May and June to the fourth rank in August. Do-Si-Dos Pre-Roll (1g) rounded out the top five, slipping from third place in July to fifth in August.
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.
