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Jun-2024
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Overview
Market Insights Snapshot
Galactic (fka Galactic Meds) has shown varied performance across different states and categories. In Massachusetts, the brand has experienced a decline in the Flower category, dropping from a rank of 24 in March 2024 to 54 by June 2024. This downward trend is concerning, especially considering they were not in the top 30 brands in the Pre-Roll category for April and May. However, in the Vapor Pens category, Galactic maintained a relatively stable position, fluctuating slightly but remaining within the top 30, indicating a steady consumer base in this segment.
In contrast, Galactic's performance in Michigan has been more promising. The brand saw significant improvement in the Flower category, moving from rank 22 in March to a high of 8 in May before settling at 9 in June. This positive movement suggests strong market penetration and consumer preference. Similarly, in the Vapor Pens category, Galactic rose impressively from rank 33 in March to 13 by June, showing a clear upward trend. However, the brand's presence in the Pre-Roll category was less stable, with rankings fluctuating and not making the top 30 in May, indicating potential areas for improvement.
Competitive Landscape
In the competitive landscape of Michigan's Flower category, Galactic (fka Galactic Meds) has demonstrated a notable upward trajectory in rankings over recent months. Starting from a rank of 22 in March 2024, Galactic climbed to 12th in April, 8th in May, and settled at 9th in June. This consistent improvement indicates a positive reception and growing market presence. In comparison, Dog House experienced a more volatile performance, jumping from 24th in March to 6th in May before dropping to 8th in June. Meanwhile, LivWell showed a relatively stable yet slightly fluctuating trend, maintaining a position within the top 15. Mischief saw a peak in April at 7th but fell to 11th by June. Play Cannabis consistently ranked within the top 10, indicating strong market stability. Galactic's upward movement amidst such competition suggests effective strategies in product offerings and marketing, positioning it as a rising contender in Michigan's Flower market.
Notable Products
In June 2024, the top-performing product for Galactic (fka Galactic Meds) was Celestial Sherbert Terp Cartridge (1g) in the Vapor Pens category, maintaining its number one ranking from the previous month with sales of $18,441. Strawberry Stardust Terp Distillate Cartridge (1g), also in the Vapor Pens category, rose to second place from third in May. Blueberry Moon Terp Distillate Cartridge (1g) continued its upward trend, moving from fifth to third place. Biker Cheese (3.5g) in the Flower category debuted at fourth place. Cherry Fast Acting Gummies 20-Pack (200g) in the Edible category held steady at fifth place, showing consistent performance over the past few months.
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