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Nov-2024
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Overview
Market Insights Snapshot
Goldkine has shown a noteworthy performance in the Michigan market, particularly within the Flower category. The brand experienced a significant upward trajectory, moving from the 36th position in August 2024 to the 18th position by November 2024. This climb indicates a growing consumer preference for Goldkine's Flower products, as evidenced by the increase in sales from September to November. Despite a dip in October, the brand managed to rebound effectively, suggesting resilience and strategic market adjustments. This progression into the top 20 is a positive indicator of their strengthening foothold in the Michigan Flower market.
Conversely, Goldkine's performance in the Pre-Roll category in Michigan presents a different narrative. The brand did not make it into the top 30 rankings from August to November 2024, which could be seen as a challenge for their market presence in this segment. Although there was a slight improvement in sales from October to November, the overall ranking suggests that Goldkine may need to reassess its strategy in the Pre-Roll category to boost its visibility and consumer appeal. This contrast between the Flower and Pre-Roll categories highlights the varied reception of Goldkine's product offerings within the same state.
Competitive Landscape
In the competitive landscape of the Michigan flower category, Goldkine has shown a dynamic performance over the past few months, reflecting both challenges and opportunities. In August 2024, Goldkine was ranked 36th, but by September, it had climbed to 21st, indicating a significant boost in market presence. However, October saw a dip to 31st, before rebounding to 18th in November, suggesting volatility in its market positioning. This fluctuation is noteworthy when compared to competitors like LivWell, which improved from 27th to 17th over the same period, and Skymint, which steadily rose from 23rd to 20th. Meanwhile, NOBO and Dubs & Dimes maintained relatively stable positions, with Dubs & Dimes consistently outperforming Goldkine. This competitive environment highlights the need for Goldkine to leverage its upward momentum from November to secure a more stable and higher rank, potentially driving increased sales and brand loyalty.
Notable Products
In November 2024, Greenline OG (Bulk) emerged as the top-performing product for Goldkine, with notable sales of 4575 units. Slapz Smalls (14g) followed closely as the second best-seller, while E85 (Bulk) and Pineapple Chunk Smalls (14g) secured the third and fourth positions, respectively. Ghost Rider (3.5g), which was the top product in August, slipped to fifth place by November. This indicates a shift in consumer preferences towards bulk purchases over smaller quantities. Overall, the rankings highlight a strong preference for Flower category products in the current market.
```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.
