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Aug-2024
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Overview
Market Insights Snapshot
YouMist has shown consistent performance in the Tincture & Sublingual category across several months in Michigan. Starting off strong with a rank of 5 in May, the brand managed to maintain this position through June and July before experiencing a slight dip to 6 in August. This stability in the top 10 indicates a steady demand for YouMist products in Michigan, although the slight decline in August suggests a need for strategic adjustments to regain their previous standing. Notably, the brand's sales figures reflect this trend, with a peak in July followed by a decrease in August.
However, YouMist's presence in other states and categories is less prominent, as they did not make it into the top 30 rankings in several key markets. This absence can be seen as a challenge for the brand, indicating potential areas for growth and market penetration. The lack of top 30 rankings in other states suggests that while YouMist has a strong foothold in Michigan's Tincture & Sublingual category, there is significant room for expansion and improvement in other regions and product lines. By focusing on these underperforming areas, YouMist could potentially replicate its Michigan success on a broader scale.
Competitive Landscape
In the highly competitive Michigan Tincture & Sublingual market, YouMist has experienced a slight decline in its rank over the past few months, moving from 5th place in May, June, and July 2024 to 6th place in August 2024. This shift is notable as it coincides with a decrease in sales, from $18,265 in May to $15,638 in August. Meanwhile, Mary's Medicinals has maintained a strong position, consistently ranking 3rd or 4th, although their sales have also seen a downward trend. Interestingly, Neno's Naturals has shown resilience by climbing from 6th place to 5th place in August, surpassing YouMist. This suggests that while YouMist's market presence is relatively stable, it faces increasing pressure from competitors like Neno's Naturals, which could impact its long-term market share and sales trajectory.
Notable Products
In August 2024, Blue Raspberry Mist Breathspray (200mg) reclaimed the top spot for YouMist, with a notable increase in sales to 417 units. Mellow Mist- CBD/THC 1:1 Citrus Breathspray (150mg CBD, 150mg THC) climbed to the second position, improving from its third place in July. Energy Mist - CBD/THC 1:1 Cinnamon Breathspray (150mg CBD, 150mg THC) dropped to third place despite leading in July. Pina Colada Mist Breathspray (200mg) maintained its fourth position from July, while Sleepy Mist - CBD/THC 1:1 Mint Breath Spray (150mg CBD, 150mg THC) also held steady at fifth place. This month saw significant shifts, particularly for Blue Raspberry Mist Breathspray, which surged from second place in July to first place 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.
