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Oct-2024
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Overview
Market Insights Snapshot
Goldkine's performance in the Michigan market has shown notable fluctuations across different categories over the past few months. In the Flower category, the brand made significant strides, moving from a rank of 38 in July and August 2024 up to 19 in September. However, it did experience a slight dip to rank 27 in October. This upward trend in September was accompanied by a substantial increase in sales, indicating a strong consumer response to their offerings during that period. Such a rise into the top 30 brands is a positive indicator of Goldkine's growing presence and competitiveness in the Flower segment within Michigan.
Conversely, Goldkine's performance in the Pre-Roll category in Michigan has been less encouraging. The brand consistently ranked outside the top 30, with positions at 38, 41, and eventually dropping to 54 by October 2024. This decline in ranking is mirrored by a decrease in sales figures, suggesting that the brand may be facing challenges in capturing consumer interest in this category. The absence from the top 30 brands in October is a clear indication of the competitive pressures Goldkine faces in the Pre-Roll market. This presents a potential area for strategic improvement and focus for the brand moving forward.
Competitive Landscape
In the competitive landscape of the Michigan flower category, Goldkine has demonstrated notable fluctuations in rank and sales over the past few months. Despite starting at a rank of 38 in July 2024, Goldkine surged to 19 by September, indicating a significant improvement in market position, before settling at 27 in October. This upward trend in September was accompanied by a substantial increase in sales, surpassing competitors like High Life Farms and Cheech & Chong's, which struggled to maintain consistent rankings. Meanwhile, Carbon and Everyday Cannabis remained relatively stable, with Carbon slightly outperforming Goldkine in October. These dynamics suggest that Goldkine's strategic efforts in September paid off, although sustaining this momentum will be crucial to maintaining a competitive edge in the Michigan market.
Notable Products
In October 2024, the top-performing product for Goldkine was Peanut Butter Pie Smalls (14g) in the Flower category, securing the number one rank with sales of 2459 units. Stuffed French Toast Smalls (14g), also in the Flower category, followed closely in second place with notable sales figures. The Orange Pineapple Infused Pre-Roll (1g) climbed to third place, showing a consistent upward trend from fifth in July and fourth in August, achieving sales of 2172 units. Point Break Smalls (14g) maintained a strong presence, ranking fourth after being third in September. Designer Runtz (Bulk) rounded out the top five, marking its debut in the rankings for October.
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.
