Market Insights Snapshot
In the Michigan market, Franklin Fields' performance varies across categories. In the 'Concentrates' category, the brand has shown a steady improvement in rankings, moving from 65th in July 2023 to 40th in October 2023. This positive trend suggests an increasing popularity and market share for Franklin Fields in this category. However, in the 'Pre-Roll' category, the rankings fluctuated significantly, with a notable dip to 76th place in September 2023, before recovering to 50th in October 2023. This could indicate a potential inconsistency in the brand's performance in this category.
On the other hand, Franklin Fields' performance in the 'Flower' category in Michigan has been impressive. The brand consistently ranked within the top 10 from July to September 2023, although there was a drop to 15th place in October 2023. Despite this, the 'Flower' category appears to be a strong area for Franklin Fields. In contrast, the 'Vapor Pens' category presents a different picture. The lack of ranking data for three out of the four months indicates that Franklin Fields was not among the top 20 brands in this category, suggesting room for improvement.
In the Michigan Flower category, Franklin Fields, despite a strong performance in the summer months, saw a drop in rank from 6th in September 2023 to 15th in October 2023. This decline in rank was accompanied by a significant decrease in sales, indicating a loss of market share. Meanwhile, competitors such as Grown Rogue and Goldkine saw improvements in their rankings during the same period. Grown Rogue climbed from 19th to 14th, while Goldkine made a notable leap from 30th to 13th. Other competitors like Glorious Cannabis Co. and Play Cannabis also experienced a drop in rank, but not as drastic as Franklin Fields. This trend suggests a highly competitive market with frequent changes in consumer preferences.
In October 2023, the top-performing product from Franklin Fields was 'First Class Funk (1g)' with an impressive sales figure of 21,707 units. Following closely, 'Unicorn Breath (Bulk)' maintained its second rank from the previous month, showcasing consistent performance. 'Super Boof (Bulk)', despite being the top-seller in August and September, fell to the third spot in October. 'Sherb Creme Pie (1g)' moved up from its previous third rank in August to the fourth position in October. Lastly, 'Black Jack (Bulk)', which was the third best-seller in July, dropped to the fifth spot in October. This analysis illustrates the dynamic nature of consumer preferences and the competitive landscape of Franklin Fields' product offerings.