Market Insights Snapshot
In Massachusetts, Galactic (fka Galactic Meds) has shown a noteworthy performance across several categories, signaling a mixed yet promising trajectory. Notably, in the Flower category, the brand's ranking improved from not being in the top 20 in October 2023 to 29th in January 2024, with December sales reaching 357,366 USD, indicating a positive momentum. The Pre-Roll category tells a story of fluctuation, as Galactic entered the rankings at 67th in November, peaked at 44th in December, and then slightly declined to 55th by January 2024. However, the Vapor Pens category showcased a consistent upward movement, breaking into the rankings in December and climbing to 28th by January, hinting at growing consumer preference within this segment.
Galactic's performance in Michigan and Missouri presents a contrast in market dynamics and product reception. In Michigan, the brand experienced volatility in the Flower category, with a notable dip to 62nd in December before rallying to 40th in January 2024, alongside a mixed performance in Vapor Pens, ultimately improving to 31st in January. The entry into the Pre-Roll rankings at 75th in January might suggest a strategic expansion or variance in consumer demand. Meanwhile, in Missouri, Galactic has made significant inroads in the Concentrates category, rapidly ascending from 54th in October 2023 to 17th by January 2024, reflecting a robust increase in market share and consumer interest, underscored by a dramatic rise in sales from 2,306 USD in October 2023 to 121,839 USD in January 2024.
In the competitive landscape of the Michigan flower cannabis market, Galactic (fka Galactic Meds) has experienced notable fluctuations in rank and sales over the recent months. Initially not in the top 20 brands in October 2023, Galactic saw a decline in rank from 29th in October to 62nd in December, before making a significant jump to 40th in January 2024. This trajectory suggests a recovery in market position, despite facing stiff competition from brands such as Crude Boys, which saw a slight decline to 41st in January after consistently ranking higher in previous months. Conversely, Rkive Cannabis and Glorious Cannabis Co. have shown upward mobility, with Rkive Cannabis notably jumping to 31st from a lower rank of 76th in October. Lion Order, similar to Galactic, has seen fluctuations but remained relatively stable in its market position. Galactic's recent improvement in rank, despite earlier declines, indicates a potential resurgence in the competitive Michigan flower market, highlighting the brand's resilience and adaptability amidst changing market dynamics.
In January 2024, Galactic (fka Galactic Meds) saw its top-performing product as the Purple Cream Cake Pre-Roll (1g) within the Pre-Roll category, achieving remarkable sales figures of 14,882 units. Following closely behind, the Orange Pop Pre-Roll (1g) also in the Pre-Roll category, secured the second position with a slight decrease in sales from the previous month, settling at 7,694 units. The third spot was taken by Orange Pop (3.5g) from the Flower category, marking its first appearance in the top ranks for the period. The Blueberry Moon Terp Cartridge (1g) from the Vapor Pens category, previously ranked third in October 2023, dropped to the fourth position in January 2024, indicating a shift in consumer preferences. Lastly, the Strawberry Stardust Terp Cartridge (1g), also a Vapor Pens product, entered the top five for the first time, rounding off the list and highlighting the diversity in Galactic's product appeal.