From Hazy to Clear: Incorporating Data in your Cannabis Business
BDSA Blog
by Leah Spokojny
2w ago
Author: Leah Spokojny – Chief Revenue Officer, BDSA In today’s hyper-competitive cannabis landscape, a data-driven culture can make all the difference. Those who leverage data can confidently estimate the total addressable market, evaluate risk and opportunity, track performance, and execute against opportunities. From day one, cannabis businesses should strive to incorporate data into operations to make more informed decisions, problem-solve effectively, and understand the cannabis consumer and what drives their purchase decisions.  Leveraging Experience vs. Data Some may look to experie ..read more
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Fastest Growing Disposable Vape Brands
BDSA Blog
by Brendan Mitchel-Chesebro
1M ago
Brendan Mitchel-Chesebro The cannabis industry is more competitive than ever in 2024, so it’s no wonder that brands and retailers are always on the hunt for innovative products that can boost sales and help gain market share. Cannabis category share has largely stabilized at the top level, with flower making up the largest market share, followed by vape and edible products. But when we take a granular look at product category data, we see that there are still shifts happening in the cannabis product landscape. One notable shift underway is the rapid growth of disposable vape products. Between ..read more
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Maximizing 4/20 Success: Insights and Strategies for Cannabis Retailers and Brands
BDSA Blog
by cindy
2M ago
BDSA insights empower retailers to apply strategic discounts and deploy brand merchandising, enhancing 4/20 success. Key Takeaways: With 4/20 landing on a Saturday in 2024, retailers have a prime opportunity to capture increased foot traffic and sales, making it important to align promotions and stock with anticipated consumer demand. Historical sales data, particularly from 2023, reveals that products like solventless extracts and culinary edibles significantly outperform others during 4/20, suggesting a targeted approach to inventory and promotions. Strategic discounting based on consumer p ..read more
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Emerald Earnings: St. Patrick’s Day’s Surprising Impact on Cannabis Sales
BDSA Blog
by Brendan Mitchel-Chesebro
3M ago
BDSA insights reveal a new trend as St. Paddy’s Day emerges as a key player in cannabis retail growth. While 4/20 remains a key date in the cannabis calendar, an unexpected contender is emerging that deserves equal attention. St. Patrick’s Day is now revealing a different shade of green, one that is increasingly significant for cannabis businesses. This Irish holiday is rapidly carving out its own space in the cannabis market, and our data indicates a growing trend that’s impossible to ignore. With St. Patrick’s Day on the horizon, let’s dive into the numbers and explore how this traditional c ..read more
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Small Categories, Big Wins: How to Optimize Cannabis Retail for Valentine’s Day
BDSA Blog
by Brendan Mitchel-Chesebro
4M ago
Brendan Mitchel-Chesebro The New Year is in full swing, and cannabis businesses are already looking ahead to the biggest holidays for cannabis in 2024. At first glance, Valentine’s Day may not seem like an important day for cannabis sales, but a careful look shows that the holiday presents an opportunity to boost sales across several product categories, particularly with edibles and topicals. Valentine’s Day Consumer Trends Before we dive into the nitty gritty of sales trends on Valentine’s Day, it’s worth taking a moment to examine consumer trends. Consumer Insights data show that 37% report ..read more
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Redefining Growth: Innovative Strategies for Cannabis Brands in a Price-Compressed Market
BDSA Blog
by Brendan Mitchel-Chesebro
4M ago
Discover how cannabis brands can turn market challenges into growth opportunities with strategic insights and data-driven approaches. Brendan Mitchel-Chesebro With the pandemic sales boom in the rearview mirror, the cannabis industry has been dealing with a challenging new reality. Gone are the days of renewed optimism and skyrocketing sales—as businesses are once again facing industry-wide pressures in an increasingly competitive cannabis landscape.  Such shifts have brought about a profound realization: Success in the cannabis industry has never been straightforward. The challenges are ..read more
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How to Maximize Sales leading up to Christmas
BDSA Blog
by Kevin Tear
5M ago
Kevin Tear Despite a -20% decrease in total available shopping hours, the week leading up to Christmas day has shown incremental daily sales versus non-holidays weeks across all BDSA-Tracked markets for the last two annual periods. Christmas 2022 saw a +4.8% dollar sales improvement, down slightly from a +5.4% lift in 2021. Last year’s sales lift was coupled with -12% decrease in Average Retail Price when compared to non-holiday weeks, the largest discount next to 4/20. *Source: BDSA Retail Sales Tracking, All BDSA-Tracked Markets, 2021-present Comparing 2021 to latest year, the larger increme ..read more
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The Impact of US Cannabis Rescheduling
BDSA Blog
by Brendan Mitchel-Chesebro
6M ago
Brendan Mitchel-Chesebro August 2023 was an opportune moment in U.S. cannabis reform. Right before summer ended, the Department of Health and Human Services delivered the recommendation to move cannabis from “Schedule I” (the classification for dangerous drugs of no therapeutic use) to “Schedule III” (the classification for drugs with a therapeutic application that have a lesser potential for abuse than drugs in Schedules I and II). This recommendation has the potential to provide a huge benefit to the U.S. legal cannabis industry. However, there are still a lot of unknowns and differing opini ..read more
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Top Five Best-Selling Brands in the Ohio Medical Market
BDSA Blog
by Brendan Mitchel-Chesebro
6M ago
Brendan Mitchel-Chesebro Ohio became the 24th state to legalize cannabis after 56% of voters said yes to adult-use on November 7, 2023. While rules for adult-use are pending until December 7, Ohio’s robust medical market and diverse brand landscape deserve more attention. Here are the top five brands by market share courtesy of BDSA Retail Sales Tracking. Klutch Cannabis Since their founding in 2020, Akron-based Klutch Cannabis has been a major player in the Ohio medical cannabis market, providing patients with cannabis across all major product categories. Klutch Cannabis totaled $10.5MM in s ..read more
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P&T Spotlight: New BDSA Platform Offers You Insights at Your Fingertips & Ability to get Granular Data
BDSA Blog
by Brendan Mitchel-Chesebro
7M ago
Brendan Mitchel-Chesebro We are excited to announce the new BDSA platform in GreenEdge®! The cannabis industry is quickly evolving, and we know how important it is to get the business actionable insights you need to stay ahead of the curve. This renovation makes getting insights and answers faster. And for the analyst-type minds, the enhanced features make accessing granular data easier than ever before. New Functionality Gets You the Data That You Need Even Faster In a fast-moving industry like legal cannabis, you need answers at your fingertips. The renovated BDSA enhanced dashboards make ge ..read more
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