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Apr-2024
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Overview
Market Insights Snapshot
In Massachusetts, Galactic (fka Galactic Meds) has shown a fluctuating performance across various cannabis categories, with notable movements in the rankings from January to April 2024. The brand's presence in the Flower category saw a dip in February, ranking at 34, but managed a recovery in March, climbing to 20th place, only to fall again to 36th in April. This inconsistency might raise concerns about their market stability in this category. However, their Vapor Pens category tells a different story of success, improving from a 29th place in January to a stable position within the top 20 by April, indicating a growing consumer preference for their vapor pen products in the state. The Pre-Roll category, however, remained outside the top 30 brands, which might be an area for Galactic to focus on improving.
In the competitive Michigan market, Galactic (fka Galactic Meds) marked a significant achievement in the Flower category, where they leaped from 22nd place in January to an impressive 10th by April, showcasing substantial sales growth from 1,105,648 in January to 2,274,180 by April 2024. This remarkable improvement highlights the brand's strengthening position and consumer acceptance in Michigan. Conversely, the brand's entry into the Concentrates category in April at 64th position suggests a challenging start in this new category. The Edibles category showed a positive trend, moving from a rank outside the top 50 in February to 43rd by April, indicating potential growth areas for Galactic. The Pre-Roll and Vapor Pens categories saw minor fluctuations in rankings, suggesting a need for strategic focus to enhance their market share in these areas.
Competitive Landscape
In the competitive landscape of the Michigan flower market, Galactic (fka Galactic Meds) has shown a notable trajectory in terms of rank and sales, despite not consistently being in the top 20 brands. Starting outside the top 20 in January 2024, Galactic made a significant leap to the 10th position by April 2024, indicating a strong upward trend in both rank and sales. This performance places it in a competitive position against brands like High Supply / Supply, which saw a decline from 3rd to 9th place within the same period, and Common Citizen and Ozone, which maintained positions within the top 12 but did not show as dramatic an improvement in rank. Interestingly, Goodlyfe Farms mirrored Galactic's significant rank improvement, jumping from 50th to 11th place. Galactic's upward movement in the Michigan flower market is a testament to its growing popularity and sales performance, positioning it as a brand to watch among its competitors.
Notable Products
In April 2024, Galactic (fka Galactic Meds) saw White Out (28g) from the Flower category take the top spot with impressive sales, reaching 10,985 units, marking it as the best-selling product. Following closely, the Celestial Sherbert Terp Cartridge (1g) in the Vapor Pens category secured the second rank, showing a notable improvement from its fourth position in March. The Watermelon Fast Acting Gummies 20-Pack (200mg) from the Edible category maintained a consistent performance, holding onto the third rank from the previous month. Meanwhile, the White Out Pre-Roll (1g) from the Pre-Roll category dropped to the fourth position after being the second best-selling product in March. Lastly, Orange Pop (3.5g), another Flower category product, rounded out the top five, marking its first appearance in the monthly rankings for the year.
Top Selling Cannabis Brands
