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Apr-2024
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Overview
Market Insights Snapshot
In Michigan, Treetown has shown a mixed performance across its product categories, with notable variances in its rankings month over month. In the Edibles category, Treetown has maintained a consistent presence within the top 30 brands, improving from a rank of 29 in January 2024 to 22 in April 2024. This upward movement, coupled with a significant sales increase from January's $252,106 to $380,004 in April, suggests a growing consumer preference for Treetown's edible offerings in the Michigan market. Conversely, the brand's Pre-Roll category tells a different story, with rankings fluctuating outside the top 60, peaking at 64 in April after dipping as low as 89 in March. This inconsistency in rankings, despite an increase in sales, indicates a highly competitive market segment where Treetown is striving to capture a more significant market share.
Remarkably, Treetown's performance in the Tincture & Sublingual category in Michigan stands out with unparalleled consistency, maintaining the number 1 rank from January through April 2024. This dominance is underscored by a steady increase in sales over the same period, signaling strong market leadership and customer loyalty in this category. Such a sustained top position highlights Treetown's success in differentiating its tincture and sublingual products from competitors, possibly through superior product quality, effective marketing strategies, or both. While the brand shows promising growth and dominance in specific categories, the variability in its performance across different segments underscores the challenges and opportunities it faces in expanding its market footprint and consumer base in Michigan's diverse cannabis market.
Competitive Landscape
In the competitive landscape of the edible cannabis market in Michigan, Treetown has shown a fluctuating yet improving position over the first four months of 2024. Initially not ranking within the top 20 in January, Treetown made a notable leap to 21st in February, dipped slightly to 24th in March, and then improved to 22nd in April. This trajectory indicates a positive trend in both rank and sales, despite fierce competition. Notably, Ozone has maintained a stronger position, consistently ranking in the top 20 throughout these months, indicating a higher market share and sales volume. Similarly, Mitten Extracts has shown resilience, staying ahead of Treetown in rankings and sales, particularly in February and April. Meanwhile, competitors like North Cannabis and Sauce Essentials have shown variable performance but remained close contenders to Treetown, with Sauce Essentials notably closing the gap in April. These dynamics suggest that while Treetown is gaining ground, the competition remains stiff, with minor fluctuations in sales and rankings highlighting the competitive intensity within Michigan's edible cannabis market.
Notable Products
In April 2024, Treetown's top-selling product was the Sleep - CBN/THC 2:1 Blackberry Lavender Gummies 10-Pack (100mg CBN, 50mg THC) within the Edible category, maintaining its number one rank from the previous three months with sales figures reaching 4928.0 units. Following closely, the Mango Full Spectrum Gummies 10-Pack (200mg) climbed to the second rank, showing a notable improvement from its previous position at third in February. The Snickerdoodle Fresh Baked Cookies 10-Pack (200mg) emerged in the rankings for the first time in April, securing the third spot. The Peach Full Spectrum Gummies 10-Pack (200mg) saw a slight decline, moving from second in March to fourth in April. Lastly, the Sativa Blue Raspberry Gummies 10-Pack (200mg) held steady, maintaining its fifth position from March to April, indicating consistent consumer preference within Treetown's Edible category.
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