Market Insights Snapshot
Looking at the performance of the cannabis brand WEED. in the Michigan market, there are some interesting trends to note. In the Flower category, WEED. has experienced some fluctuations in its ranking from August to November 2023. Starting at rank 23 in August, the brand dropped to rank 33 in September, which suggests that it was not among the top 20 brands in that state and category for the month. However, it managed to climb back up to rank 26 in October and further improved its position to rank 20 in November. This upward trend in the latter part of the year indicates a positive shift in the brand's performance.
When it comes to sales, WEED. saw a decrease from August to September 2023, aligning with its drop in ranking. However, sales started to recover in October and continued to increase in November, reaching a figure close to its August sales. This recovery in sales mirrors the brand's improvement in ranking during the same period. It's worth noting that the brand's resilience in bouncing back from a dip in both ranking and sales demonstrates its potential for growth in the competitive Michigan market. However, it's important to keep an eye on these trends over the coming months to get a clearer picture of the brand's long-term performance.
In the Flower category within Michigan, WEED. has been facing stiff competition from several brands. Cresco Labs has been fluctuating in rank, moving from 11th to 16th, back to 11th, and then dropping significantly to 25th. This indicates a potential decrease in market share. Cloud Cover (C3) has been relatively stable in rank, staying within the top 20, but has seen a slight drop in rank from 16th to 22nd. Pressure Pack has shown an impressive improvement, moving from 43rd to 19th, indicating a significant increase in market share. PineBrooke Warren has also shown a positive trend, improving from 17th to 18th despite a dip to 35th in between. In comparison, WEED. has shown a slight improvement in rank, moving from 23rd to 20th, but still lags behind some of its competitors. These trends indicate that while WEED. is improving, it still has a way to go to catch up to its competitors in the Flower category in Michigan.
In November 2023, the top-performing product from WEED was 'Ill Treats (3.5g)', which maintained its top position from previous months with sales of 2094 units. The second best-selling product was 'Mac 1 Smalls (57g)', jumping from its previous 5th position in August to 2nd in November. Two new entries into the top five were 'RS11 (3.5g)' and 'Honolulu Blue Smalls (56g)', ranking 3rd and 4th respectively. Interestingly, 'Mountain Peaches Smalls (57g)' also shared the 4th spot with 'Honolulu Blue Smalls (56g)', both making their first appearance in the top rankings. These changes indicate a dynamic market with fluctuating consumer preferences.