Brendan Mitchel-Chesebro Unlocking Higher Profits through Strategic Product Management in the Cannabis Industry Cannabis brands are constantly seeking ways to boost revenue and enhance profitability. Two powerful strategies to achieve these goals are optimizing the product mix and implementing SKU rationalization. By carefully analyzing and refining the range of products offered, cannabis brands can better meet consumer demand, reduce costs, and ultimately increase their bottom line. How Product Mix Optimization and SKU Rationalization Work Together Product mix optimization involves evaluating ..read more

Brendan Mitchel-Chesebro Customers love having options, but too many choices from a cannabis brand can prove overwhelming and hurt profits. If you’ve ever found yourself overwhelmed by the number of jarred pasta sauces at the grocery store, you’ve been victimized by poor SKU optimization. Now, imagine what it’s like for a cannabis consumer exploring their options for the first time. Scores of cannabis products cover every inch of shelf space—each one a veritable kaleidoscope of strains, effects, and price points. Customers might leave the dispensary without finding what they need, feeling over ..read more

Brendan Mitchel-Chesebro As competition intensifies, strategic pricing is essential for cannabis brands to maintain profitability and margins, capture market share, and drive sustainable growth. The cannabis market is crowded, competitive, and constantly changing. To stay ahead of the pack, maintain margins, and achieve real profitability, cannabis brands need to be savvy in the art of pricing.  This guide explores pricing optimization tactics explicitly designed for cannabis brands. It explores everything from market trend analysis and competitor pricing models to new technologies and ad ..read more

Brendan Mitchel-Chesebro In an industry as dynamic and rapidly growing as cannabis, its crucially important to understand the unique challenges of the cannabis markets you operate in as you set and refine your pricing strategy. With mature markets like California still struggling from two years of price compression, and emerging markets like New York struggling to compete on price with the illicit market, pricing presents a particularly difficult challenge to cannabis brands looking to boost revenue and gain market share. Regardless of which cannabis market you’re in, one approach that can be ..read more

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

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

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

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

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

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