BDSA Launches Daily Menu Analytics, Increasing Speed to Actionable Cannabis Industry Insights
LOUISVILLE, Colo., Jan. 31, 2024 (GLOBE NEWSWIRE) -- BDSA, provider of the most accurate and comprehensive retail sales data for the cannabis industry, today announced an enhancement to its Menu Analytics solution that introduces daily insights into pricing, availability and markup. The launch of daily Menu Analytics empowers leaders in the cannabis industry to make quicker and more precise data-driven decisions to drive more sales in this highly competitive market.
With the integration of new daily updates, cannabis brands and retailers can access the most up-to-date regional and store-specific insights, gaining visibility into specific products and competitor performance. Covering over 90% of menus in most markets, this solution offers widespread and dependable market coverage. With access to this tool, brands will have information to build strong sales stories, can identify where they should increase distribution of their brands, and will reduce lost sales by acting on out of stocks immediately. Retailers will have a powerful competitive advantage with access to the pricing and assortment of their neighboring stores, allowing them to set a strong competitive strategy.
“We are thrilled to launch our enhanced Menu Analytics solution, providing daily insights into pricing, availability, and markup,” said Roy Bingham, co-founder and chief executive officer of BDSA. “This advancement underscores BDSA’s commitment to delivering actionable insights that ties directly to revenue gains for businesses. With daily updates, cannabis leaders can now make quicker and more informed decisions, gaining a competitive edge in this dynamic market.”
BDSA’s Menu Analytics offers granular and hyper-local insights with actionable data to better define the market and evolving retail dynamics. A component of BDSA’s comprehensive suite of data and analytics solutions, this solution maximizes the accuracy and depth of product representation by tapping into BDSA’s proprietary data catalog. This integration allows BDSA to have the cleanest view in the menu landscape, and includes the ability to filter to brand houses, granular categorization, and detailed product attributes. When paired with BDSA’s flagship Retail Sales Tracking solution, Menu Analytics offers the most comprehensive view across the supply chain of brand strength, pricing and assortment, including metrics like markup and velocity to drive strategy regarding pricing and inventory allocation.
“BDSA has been a critical partner in helping us understand the market size and our market share, and I was excited to hear about their new menu analytics program,” said David Van Vlierbergen, co-founder and chief financial officer of Fernway. “In particular, it is useful to see when specific SKUs stock out at our customers, so our sales team can prepare an order to re-stock customers. Having faster data on a daily basis will get us one step closer to a more efficient market with vendor-managed inventory.”
About BDSA
Headquartered in Louisville, Colorado, BDSA helps businesses improve revenues, reduce innovation risk and prioritize market expansion with accurate and actionable cannabis market intelligence, consumer research and advisory services. The company provides a holistic understanding of the cannabis market by generating insights from point-of-sale data, wholesale data, consumer research and market forecasts. To learn more, please visit bdsa.com.
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Leah Stapleton
UPRAISE Marketing + PR for BDSA
415-397-7600
bdsa@upraisepr.com
