Market Insights Snapshot
Looking at the cannabis brand Apothecare's performance in the Michigan market, it's evident that there have been some notable movements across different categories. In the Concentrates category, Apothecare has steadily climbed the rankings over the period from August to November 2023, moving from a rank of 60 to 46. This could indicate an increasing popularity of their concentrate products in the market. Similarly, in the Edibles category, there has been a consistent improvement in the brand's ranking, moving from 41 in August to 35 in November. However, in the Pre-Roll category, the brand's performance seems more erratic, with a significant drop in ranking in October, followed by a recovery in November.
On the other hand, Apothecare's performance in the Flower category has been relatively stable, with a small improvement in ranking over the observed period. In the Tincture & Sublingual category, the brand has maintained a consistent ranking of 14, which could be interpreted as a steady demand for these products. The Topical category saw a significant jump in ranking from August to September, followed by minor fluctuations. Lastly, in the Vapor Pens category, the brand improved its ranking from 99 in August to 79 in November, hinting at a growing interest in their vapor pen products. It's important to note that these trends are based on ranking and not raw sales data, which provides a different perspective on the brand's performance.
In the Flower category within Michigan, Apothecare has seen a steady performance, maintaining its position within the top 50 brands over the recent months. However, the brand has faced stiff competition from several other brands. Cookies has consistently ranked higher, despite a slight decrease in sales. On the other hand, Strane and Rkive Cannabis, although starting from lower ranks, have shown significant improvement in their positions, with Rkive Cannabis even surpassing Apothecare in November 2023. The most notable competitor, however, is Goodlyfe Farms, which made a significant leap in rank in September 2023, and despite a subsequent drop, it still maintains a higher position than Apothecare. These competitive dynamics indicate a need for Apothecare to bolster its strategies to improve its ranking and sales in the Michigan Flower market.
In November 2023, the top-performing products from Apothecare were led by the Certified Organic - Lemon Alderaan Pre-Roll (1g), which retained its top spot from the previous month with sales reaching 2793 units. The CBD/THC/CBN 2:2:1 Zen Berry Gummies 20-Pack followed closely in second place, showing a slight drop from its first place in October. The THC:THCV 10:3 Citrus Lift Gummies maintained a steady performance, holding onto the third rank for two consecutive months. Despite not being in the top three in October, the CBD/THC 2:1 Strawberry Bliss Gummies made a significant jump to the fourth place. Lastly, the Certified Organic - Blackberry Gummies 10-Pack dropped to the fifth place in November, after being a consistent top performer in the previous months.