Jun-2024
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Overview
Market Insights Snapshot
Galenas has demonstrated varied performance across different states and categories in recent months. In Michigan, the brand's presence in the Flower category has seen some fluctuations. While they were ranked 76th in March 2024 and did not make it to the top 30 in April 2024, they improved significantly to 61st in May 2024. This upward trend in Michigan indicates a growing market presence, although the absence from the top 30 in certain months suggests there is still work to be done to maintain consistent visibility.
In Ohio, Galenas has shown more stability and consistent performance in the Flower category. They maintained a steady ranking at 17th place from March to May 2024, before a slight drop to 22nd in June 2024. Despite this minor decline, the brand's consistent presence in the top 30 highlights a strong foothold in the Ohio market. The sales figures reflect this stability, with notable peaks in April 2024, suggesting that while there are fluctuations, the brand remains a significant player in the state's cannabis market.
Competitive Landscape
In the highly competitive Ohio flower market, Galenas has experienced notable fluctuations in its ranking and sales over recent months. Despite a strong start in March 2024 with a rank of 18, Galenas saw a slight improvement in April, moving up to 17th place, but then faced a decline to 22nd by June. This drop in rank coincides with a significant decrease in sales from April ($494,142) to June ($279,745). Comparatively, Pure Ohio Wellness maintained a higher ranking, starting at 11th in March and only dropping to 19th by June, with sales also showing a downward trend but remaining higher than Galenas. Meanwhile, Woodward Fine Cannabis experienced a more volatile ranking, falling to 24th in April but recovering to 20th by June, indicating a potential resurgence. Kynd Cannabis Company and Standard Farms also showed varied performance, with Kynd Cannabis Company dropping out of the top 20 in June and Standard Farms consistently ranking lower than Galenas. These dynamics suggest that while Galenas has faced challenges, there is potential for recovery and growth, particularly if they can address the factors contributing to their recent sales decline.
Notable Products
For June 2024, the top-performing product from Galenas is Han Solo Burger (Bulk) in the Flower category, maintaining its rank at number 1 with notable sales of 19,060 units. Lembas Dough (Bulk), also in the Flower category, moved up from rank 3 to rank 2, showing a significant increase in sales. Han Solo Burger Pre-Roll (1g) entered the rankings at number 3 in the Pre-Roll category. Solo Burger (2.83g) is ranked 4th in the Flower category. Second Breakfast Pre-Roll (1g) retained its position at rank 5 in the Pre-Roll category, consistent with its previous ranking in April 2024.