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Oct-2024
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Overview
Market Insights Snapshot
In Michigan, Rkive Cannabis has shown notable performance across various product categories. Their Concentrates category experienced a significant upward trend, moving from 12th place in July 2024 to an impressive 4th place by October 2024. This rise in ranking is indicative of a substantial increase in sales, with October sales reaching over $600,000, showcasing a strong demand in this category. On the other hand, their Vapor Pens category has seen fluctuating performance, maintaining a consistent presence within the top 40 but not breaking into the top 30, which might suggest a need for strategic adjustments to improve their market position.
When examining the Flower category in Michigan, Rkive Cannabis demonstrates a steady climb, advancing from a rank of 76 in July 2024 to 51 by October 2024. Although they have not yet entered the top 30, the consistent upward trajectory indicates positive momentum and potential for further growth. Meanwhile, the absence of Rkive Cannabis from the top 30 in other states or provinces suggests either a lack of presence or competitiveness outside of Michigan. This could represent an opportunity for expansion or a focus on strengthening their current market standing in other regions.
Competitive Landscape
In the competitive landscape of the Michigan concentrates market, Rkive Cannabis has shown a remarkable upward trajectory in recent months. While initially ranked 12th in July 2024, Rkive Cannabis surged to 4th place by October 2024, indicating a significant improvement in market positioning. This rise is particularly notable when compared to competitors such as Cannalicious Labs, which consistently maintained a high rank, moving from 6th to 3rd over the same period, and #Hash, which held a steady 2nd place. Meanwhile, Traphouse Cannabis Co. experienced fluctuations, dropping from 4th to 8th before recovering to 5th place. Rkive Cannabis's rise in rank is accompanied by a significant increase in sales, particularly in October, where it closely matched the sales of Traphouse Cannabis Co., suggesting a growing consumer preference and potential for continued market share expansion.
Notable Products
In October 2024, Sunny D (3.5g) emerged as the top-performing product for Rkive Cannabis, achieving the number one rank with sales of 7,347 units. Permanent Marker (3.5g) held steady at the second position, maintaining its rank from September but with a slight increase in sales. Papaya Runtz (3.5g) entered the rankings at third place, showing strong performance. Candy Fumez (3.5g) improved its position to fourth, climbing from fifth place in the previous month. Cream Cake (Bulk) experienced a notable drop, falling from second place in September to fifth in 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.
