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Aug-2024
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Overview
Market Insights Snapshot
Goldkine has shown a mixed performance across different product categories in Michigan. In the Flower category, the brand has maintained a relatively stable presence, fluctuating between rank 23 and 30 over the past four months. This indicates a consistent demand for their flower products despite some minor rank volatility. However, in the Concentrates category, Goldkine failed to make it into the top 30 brands for the past four months, highlighting a significant area for improvement. The Pre-Roll category also presents a challenge, as the brand slipped from rank 32 in May 2024 to rank 37 in August 2024, indicating a downward trend that might require strategic adjustments.
While Goldkine's performance in the Flower category in Michigan remains commendable, the brand's struggles in the Concentrates and Pre-Roll categories are noteworthy. The absence from the top 30 in Concentrates for four consecutive months suggests that competitors are outperforming Goldkine in this segment, which could be a critical area for potential growth. The decline in the Pre-Roll rankings also points to the need for a reevaluation of their market strategy in this category. Despite these challenges, the brand's stable ranking in the Flower category and consistent sales figures provide a solid foundation that can be leveraged for future growth.
Competitive Landscape
In the competitive landscape of the Michigan Flower category, Goldkine has shown a dynamic performance over the past few months. Notably, Goldkine's rank fluctuated from 27th in May 2024 to 26th in August 2024, indicating a relatively stable position despite a dip to 30th in July 2024. This stability is contrasted by the performance of competitors such as North Cannabis, which improved its rank from 47th in May to 24th in August, and Glo Farms, which consistently climbed from 29th to 25th over the same period. Meanwhile, Redemption also showed a positive trend, moving from 30th in May to 27th in August. Interestingly, Cresco Labs was not in the top 20 in May but made a significant leap to 28th by July, although it did not maintain a top 20 position in August. These shifts highlight the competitive pressure on Goldkine to maintain and improve its market position amidst aggressive advancements by its rivals.
Notable Products
In August 2024, the top-performing product for Goldkine was Donkey Butter (3.5g) in the Flower category, reclaiming its first position with a notable sales figure of 3177 units. Strawberry Shortcake Infused Pre-Roll (1.35g) emerged as the second-highest seller in the Pre-Roll category. Greenline OG (Bulk) in the Flower category climbed to the third spot, showing a significant increase from its previous fifth rank in May 2024. Donkey Butter Smalls (14g) and Peanut Butter Pie (3.5g) secured the fourth and fifth positions, respectively. These rankings indicate a strong preference for Flower products, with Donkey Butter (3.5g) showing a remarkable recovery and consistent demand.
Top Selling Cannabis Brands
Data for this report comes from real-time sales reporting by participating cannabis retailers via their point-of-sale systems, which are linked up with Headset’s business intelligence software. Headset’s data is very reliable, as it comes digitally direct from our partner retailers. However, the potential does exist for misreporting in the instance of duplicates, incorrectly classified products, inaccurate entry of products into point-of-sale systems, or even simple human error at the point of purchase. Thus, there is a slight margin of error to consider. Brands listed on this page are ranked in the top twenty within the market and product category by total retail sales volume.
