Market Insights Snapshot
In the Michigan market, True North Collective has shown fluctuating rankings across various categories. In the Concentrates category, the brand's ranking fell from 24 in August to 36 by October 2023, indicating a potential decrease in popularity or competitiveness within this market segment. Similarly, in the Vapor Pens category, True North Collective's ranking improved from 20 in July to 14 in September, but dropped back to 20 by October, suggesting some variability in their market performance.
On a brighter note, True North Collective has maintained a relatively consistent and strong presence in the Edibles category within the Michigan market. Their ranking hovered around the top 10, starting at 13 in July and moving up to 9 in August before settling at 12 in October. This indicates a stable consumer demand for their edible products. However, the lack of a consistent upward trend may suggest a need for the brand to innovate or increase marketing efforts to improve their standing.
In the Michigan Edibles market, True North Collective has seen a fluctuating performance in terms of rank and sales from July to October 2023. The brand's rank improved from 13th to 9th place in August, but then slipped to 11th in September and 12th in October. This indicates a struggle to maintain a consistent position within the top 10 brands. In comparison, Monster Xtracts has shown a steady upward trend, climbing from 14th to 10th place. Cannalicious Labs, on the other hand, has seen a decline in rank, falling from 7th to 14th place. NOBO has maintained a steady 10th place rank, while Good Tide made a significant leap from not being in the top 20 in July to 13th place in October. In terms of sales, True North Collective's sales peaked in August but have been on a downward trend since, indicating a need for strategies to boost sales and improve market position.
In October 2023, True North Collective's top-performing product was the 'Cherry Pie Full Spectrum Distillate Cartridge (1g)', with sales reaching 5051 units. This product did not rank in the top 5 in the previous months. The 'Orange Dreamsicle Gummies 4-Pack (200mg)' moved from the third to the second spot, selling 4623 units. 'Electric Watermelon Gummies 4-Pack (200mg)' moved up one spot to third, while 'Fruit Punch Gummies 4-Pack (200mg)' dropped from first to fourth. Lastly, 'San Fernando Valley OG Cannabis Terp Cartridge (1g)' fell four spots to fifth place.