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Mar-2024
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Overview
Market Insights Snapshot
In Michigan, Vlasic Labs has shown a significant presence across multiple cannabis product categories, with notable performances in the Tincture & Sublingual and Topical categories. Consistently ranking within the top 5 from December 2023 to March 2024, their Tincture & Sublingual products have seen a steady increase in rank and sales, culminating in a peak sales figure of 47,949 in March 2024. Similarly, their Topical products have maintained a strong position, ranking 4th consistently from February to March 2024, with sales notably jumping to 76,097 in March. However, their Edibles category tells a different story, with rankings fluctuating and a significant drop to 74th place in March 2024, underscoring potential challenges in this segment.
Meanwhile, in Missouri, Vlasic Labs has maintained a robust performance in the Tincture & Sublingual and Topical categories, securing the 3rd and 5th positions respectively in March 2024. Their consistent top-tier rankings in these categories are mirrored by their sales growth, particularly in the Tincture & Sublingual category, where sales reached 36,034 in March 2024. However, the brand faced absence in the Capsules category in January 2024, indicating a potential area for improvement or strategic realignment. The Edibles category in Missouri also saw a gradual improvement in rankings, moving from 56th in December 2023 to 52nd in March 2024, suggesting a positive, albeit slow, trajectory. Vlasic Labs' entry into the Nevada market, particularly in the Topical category, shows promising growth, improving from a 17th place ranking in December 2023 to 14th by March 2024, alongside a sales increase to 1,242, indicating potential for expansion and increased market share in this relatively new market for the brand.
Competitive Landscape
In the competitive landscape of the topical cannabis market in Michigan, Vlasic Labs has shown a notable upward trajectory in its rankings over the recent months, moving from 6th place in December 2023 to 4th place by March 2024. This rise in rank is indicative of a significant increase in sales, underscoring Vlasic Labs' growing market presence. Among its competitors, Mary's Medicinals has consistently held a top position, fluctuating between 1st and 2nd rank, which highlights its strong market hold. Meanwhile, Escape Artists maintained a steady 3rd place, demonstrating solid performance. Michigan Organic Rub and Neno's Naturals have also been key players, with Michigan Organic Rub experiencing some fluctuation in its ranking but remaining in the top 5, and Neno's Naturals showing improvement, moving up to 6th place by March 2024. Vlasic Labs' upward movement in this competitive field, especially in terms of sales and rank improvement, positions it as a brand to watch as it continues to challenge its competitors and capture a larger share of the market.
Notable Products
In March 2024, Vlasic Labs saw the CBD Full Spectrum Relief Cream (3000mg CBD, 3oz) maintain its position as the top-selling product with a notable sales figure of 2307 units, continuing its streak from the previous months. The CBD Broad Spectrum Tincture (3000mg CBD, 30ml, 1oz) climbed up two spots since December 2023, securing the second rank in March. The CBD/CBN 1:1 Relax Lavender & Chamomile Bath Bomb (100mg CBD, 100mg CBN) also showed a positive movement, advancing to the third position from its fifth rank in February. New entries in the top five include the CBD Vanilla Sandalwood Relief Bath Bombs (200mg CBD) and the CBD/CBG 1:1 Restore Citrus & Bergamot Bath Bomb (100mg CBD, 100mg CBG) at the fourth and fifth positions, respectively. These shifts indicate a growing interest in bath products alongside the consistent demand for CBD tinctures and creams.
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