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Oct-2024
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Overview
Market Insights Snapshot
Sapphire Farms has demonstrated notable progress in the Michigan market, particularly within the Flower category. Over the past few months, the brand has climbed from a ranking of 78th in July 2024 to 48th by October 2024. This upward trajectory in rankings is complemented by a consistent increase in sales, with October sales reaching $609,468, indicating a strong demand and positive reception in this category. However, it's important to note that despite this progress, Sapphire Farms has not yet broken into the top 30 brands in Michigan for the Flower category, suggesting there is still room for growth and increased market penetration.
In contrast, the Pre-Roll category in Michigan presents a more mixed performance for Sapphire Farms. The brand maintained a stable position at 21st place through July and August 2024, before improving to 19th in September. However, a decline to 28th place in October indicates a potential challenge in sustaining its market share within this category. This drop in ranking is mirrored by a significant decrease in sales from September to October, falling to $339,528. The fluctuation in rankings and sales suggests that while Sapphire Farms has shown potential, it faces competitive pressures and must strategize to regain and improve its standing in the Pre-Roll market.
Competitive Landscape
In the competitive landscape of the Michigan flower category, Sapphire Farms has demonstrated a notable upward trajectory in rankings over the past few months. Starting from a rank outside the top 20 in July 2024, Sapphire Farms climbed to the 48th position by October 2024. This upward movement is indicative of a significant improvement in market presence and sales performance. In comparison, Redbud Roots experienced a decline in rank from 26th in September to 45th in October, suggesting a potential opportunity for Sapphire Farms to capture market share from competitors experiencing volatility. Meanwhile, Cresco Labs and Garcia Hand Picked maintained relatively stable positions, with Cresco Labs dropping slightly from 40th to 46th and Garcia Hand Picked holding steady around the 49th position. Sapphire Farms' consistent rise in rank and sales, particularly in October where it surpassed Rkive Cannabis, highlights its growing competitiveness and potential to further ascend in the rankings.
Notable Products
In October 2024, the top-performing product for Sapphire Farms was Kush Cake Pre-Roll (1g) in the Pre-Roll category, climbing to the number one spot with sales of 20,408 units. The GMO x Eastside Pre-Roll (1g) closely followed, ranking second after being the top seller in September. Calabasas Cookies Pre-Roll (1g), which led in July, settled at third place in October. Lemon Venom Pre-Roll (1g) maintained a steady presence, rising to fourth position from its debut in September. Hella Jelly Pre-Roll (1g) rounded out the top five, having previously ranked third in August.
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.
