Market Insights Snapshot
In the Michigan market, Rkive Cannabis has been exhibiting a steady performance in the Concentrates category. From July to October 2023, the brand managed to maintain its position within the top 20, with rankings fluctuating between 11th and 15th place. This consistency, coupled with a notable increase in sales from September to October, suggests a positive trend for Rkive Cannabis in this category. However, the absence of a ranking in the top 20 for the Flower category until September indicates room for growth and improvement.
Meanwhile, in the Vapor Pens category, Rkive Cannabis made a significant leap in rankings from 89th place in September to 41st in October. This dramatic rise, along with an impressive surge in sales over the same period, indicates a strong upward trajectory for the brand in this category. Despite not appearing in the top 20, this marked improvement demonstrates the brand's potential and competitiveness in the Vapor Pens category within the Michigan market.
In the Michigan flower category, Rkive Cannabis has shown a consistent improvement in its ranking over the four-month period from July to October 2023. It started at rank 74 in July and ended at rank 48 in October, indicating a positive upward trend. However, it's worth noting that Rkive Cannabis faced stiff competition from brands like Apothecare, Strane, and Garcia Hand Picked, all of which also improved their rankings during the same period. Particularly, Apothecare made a significant leap from rank 59 to 32. On the other hand, Distro 10 was not in the top 20 brands in July and September, signaling potential volatility in its market presence. In terms of sales, while exact figures are not disclosed, it's clear that all these brands are in a close race, with Rkive Cannabis showing a slight increase in sales over the period.
In October 2023, Rkive Cannabis saw the most sales from the product 'Permanent Marker (3.5g)', a type of Flower, which maintained its top rank from the previous month with a significant sales figure of 5245. The second highest performing product was 'Randy Watzon (3.5g)', another Flower, which moved up into the rankings for the first time that month. The 'RS11 (3.5g)' Flower product dropped one place from September to the third rank in October. The fourth and fifth ranks were occupied by 'Candy Fumez Hash Rosin (3.5g)' in the Concentrates category and 'Coffee Creamer Live Rosin Disposable (0.5g)' in the Vapor Pens category, respectively, both making their first appearances in the rankings in October. The shift in rankings shows a dynamic market for Rkive Cannabis, with different products gaining popularity at different times.