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Jun-2024
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Overview
Market Insights Snapshot
Skymint's performance in the Michigan market demonstrates a mixed trajectory across various product categories. In the Concentrates category, Skymint has struggled to maintain a top 30 ranking, dropping from 61st in April to 71st in May, and ultimately falling out of the top 30 by June. This indicates a decline in market presence for their Concentrates. Conversely, their Flower category has shown resilience, maintaining a relatively strong position, fluctuating between 16th and 24th place over the four-month period. This stability suggests a consistent demand for Skymint's Flower products, with a notable increase in sales from May to June.
The Edible category has been a bright spot for Skymint in Michigan, showcasing significant upward momentum. Starting at 57th place in March, Skymint climbed to 42nd by June, highlighting a positive trend in consumer acceptance and preference for their edible offerings. Pre-Rolls, while not exhibiting dramatic changes, have shown steady performance, hovering around the mid-20s in ranking. This consistency in the Pre-Roll category suggests a stable customer base and reliable product quality. Overall, while Skymint faces challenges in certain categories, their strength in Edibles and Flower products underscores their potential for sustained growth in the Michigan market.
Competitive Landscape
In the competitive landscape of the Michigan flower category, Skymint has experienced notable fluctuations in its ranking and sales over the past few months. Skymint's rank dropped from 16th in March 2024 to 24th in May 2024, before recovering slightly to 20th in June 2024. This volatility is contrasted by competitors such as Common Citizen, which saw a significant decline from 7th in March to 22nd in June, and Zones, which also experienced a drop from 4th in March to 18th in June. Meanwhile, Glorious Cannabis Co. maintained a relatively stable position, hovering around the mid-teens, and Hello made a remarkable leap from 40th in March to 21st in June. These dynamics suggest that while Skymint faces intense competition, particularly from brands like Zones and Common Citizen, there is potential for recovery and growth if it can capitalize on the instability of its competitors.
Notable Products
In June 2024, the top-performing product for Skymint was Wedding Cake Pre-Roll (1g), which ascended to the number one rank with sales of $9,536. Wonka Bars #13 Pre-Roll (1g) followed closely in the second position, maintaining a steady presence in the top three from previous months. Fatso Pre-Roll (1g) made a significant leap to third place, reflecting a notable increase from its previous rank in April. Oh Geez Pre-Roll (1g) entered the rankings at fourth place, showing strong initial performance. Humboldt Dream Pre-Roll (1g) rounded out the top five, indicating a competitive market for pre-rolls in June.
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