Sapphire Farms

Data Snapshot: Apr 03, 2024
Sapphire Farms Cannabis Brand Logo
$500K+

Mar-2024

Sales

Decline

Trend

6-Month

81

Product Count

SKUs

Sapphire Farms

Overview

Markets

Sapphire Farms Locations

Product Trends

Sapphire Farms Categories

Sapphire Farms Sales

Market Insights Snapshot

Sapphire Farms Historical Sales by Category

In Michigan, Sapphire Farms has shown varied performance across different cannabis categories, with notable shifts in rankings over the recent months. In the Flower category, Sapphire Farms experienced a significant decline, moving from a rank of 20 in December 2023 to 63 by March 2024. This downward trend is concerning, as it indicates a substantial drop in market position, moving from a top 30 brand to falling out of the top 50. This trajectory suggests a loss in consumer preference or possible operational challenges impacting their competitiveness in the Flower category. On the other hand, their performance in the Pre-Roll category tells a different story. Here, Sapphire Farms improved its ranking from 44 in December 2023 to 27 in March 2024, showcasing a remarkable recovery and indicating a strong consumer reception or strategic adjustments that have positively impacted their market standing in this segment.

While the brand's performance in the Flower category raises some red flags, the Pre-Roll category demonstrates Sapphire Farms' potential to pivot and regain market share. The contrast between the two categories in Michigan could reflect varying strategies or market dynamics affecting Sapphire Farms' brand presence. It's noteworthy that while their rankings in the Flower category have declined, leading to a decrease in sales from December 2023's $1,023,622 to March 2024's $378,778, their Pre-Roll segment has seen a significant increase in sales, jumping from $194,109 in December 2023 to $309,165 in March 2024. This sales increase in the Pre-Roll category, alongside the improved ranking, could signal a strategic shift or a successful marketing effort that has resonated well with consumers. However, the stark difference in performance across categories underscores the importance of brand adaptability and the need for targeted strategies to maintain and enhance market positioning in the competitive cannabis industry.

Mar-2024 Rank
Flower
Pre-Roll
63
27
Sapphire Farms

Competitive Landscape

In the competitive landscape of the Michigan flower cannabis market, Sapphire Farms has experienced a notable shift in its standing. Initially ranked 20th in December 2023, Sapphire Farms saw a gradual decline in rank over the subsequent months, dropping to 25th in January 2024, then to 52nd in February, and further down to 63rd by March 2024. This downward trajectory in rank is mirrored by a significant decrease in sales, starting from a high in December 2023 and plummeting by March 2024. In contrast, competitors like Strane, despite starting from a lower rank of 90th in December, have shown a steady climb up the ranks, reaching 69th by March 2024. Similarly, Harbor Farmz made an impressive leap into the rankings in February and climbed further by March. Galenas and Cheech & Chong's also entered the rankings later but showed promising upward movements by March. This competitive analysis highlights the challenges Sapphire Farms faces, not only in maintaining its rank but also in sustaining its sales volume amidst the dynamic shifts within the Michigan flower cannabis market.

Sapphire Farms market ranking for MI Flower

Sapphire Farms

Notable Products

In March 2024, Sapphire Farms saw Gazzurple Pre-Roll (1g) leading the sales in the Pre-Roll category with a total of 27,702 units sold, marking it as the top-performing product. Following it, GMO x Eastside Pre-Roll (1g) ranked second without previous month data for comparison. Lemon Venom Pre-Roll (1g), which was the best seller in February, dropped to the third position in March, indicating a shift in consumer preference. Caramel Cream Pre-Roll (1g) and San Fernando Valley Pre-Roll (1g) were also notable, securing the fourth and fifth spots, respectively. The changes in rankings from the previous months highlight dynamic market trends and varying consumer interests within Sapphire Farms' product lineup.

Product Rank
Category
Dec-2023
Jan-2024
Feb-2024
Mar-2024
Gazzurple Pre-Roll (1g)
Pre-Roll
>5
>5
>5
1
GMO x Eastside Pre-Roll (1g)
Pre-Roll
>5
>5
>5
2
Lemon Venom Pre-Roll (1g)
Pre-Roll
>5
>5
1
3
Caramel Cream Pre-Roll (1g)
Pre-Roll
>5
>5
>5
4
San Fernando Valley Pre-Roll (1g)
Pre-Roll
>5
2
3
5
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