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Aug-2024
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Overview
Market Insights Snapshot
Goodlyfe Farms has shown notable performance across various categories in Michigan. In the Pre-Roll category, the brand maintained a strong presence, consistently ranking in the top 5 from May to August 2024. Despite a slight dip in rank from 3rd to 5th place, their sales figures remained robust, peaking in July with over 3.1 million in sales. This consistent performance in Pre-Rolls highlights Goodlyfe Farms' strong market position in Michigan. Conversely, in the Concentrates category, the brand has struggled to maintain a top 20 position, with rankings fluctuating and ultimately settling at 23rd place in August. This indicates potential challenges in this segment, which may require strategic adjustments to improve their standing.
In the Flower category, Goodlyfe Farms has demonstrated a stable yet slightly declining trend in Michigan. Starting at 12th place in May, the brand briefly climbed to 11th in June but dropped back to 15th by August. Despite this decline in ranking, their sales figures showed a positive trend, especially in June and July, suggesting that while their market share might be under pressure, consumer demand remains relatively strong. This mixed performance across categories suggests that while Goodlyfe Farms excels in certain segments, there are opportunities for growth and improvement in others, particularly in Concentrates. For a more detailed analysis, further examination of market dynamics and consumer preferences in Michigan would be beneficial.
Competitive Landscape
In the competitive landscape of the Michigan pre-roll category, Goodlyfe Farms has experienced notable fluctuations in rank and sales over recent months. Despite maintaining a strong position, Goodlyfe Farms saw a dip from 3rd place in May and June 2024 to 5th place in July and August 2024. This shift can be attributed to the rising performance of brands like Dragonfly Cannabis, which surged from 6th place in June to 3rd place in August, and Distro 10, which climbed to 3rd place in July before falling back to 6th in August. Meanwhile, Simpler Daze consistently outperformed Goodlyfe Farms, securing the 4th rank in both July and August. Although Goodlyfe Farms' sales remained robust, peaking at over $3.1 million in June, the competitive pressure from these brands indicates a dynamic market where maintaining a top position requires continuous innovation and strategic marketing.
Notable Products
In August 2024, the top-performing product from Goodlyfe Farms was Animal Face (Bulk) in the Flower category, with sales reaching $111,566. Churro Infused Pre-Roll (1g) secured the second position in the Pre-Roll category. The 24K Gold Punch Infused Pre-Roll (1g) maintained its third-place rank from the previous month, showing consistent performance. Blue Raspberry Infused Pre-Roll (1g) dropped to fourth place after leading in July 2024. Watermelon Zkittles Infused Pre-Roll (1g) entered the rankings at fifth place, indicating a strong debut.
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.
