Pistil Data, a cannabis market intelligence platform, is now operating in every legal U.S. state with plans to expand to Canada by the end of the year. The company launched two new market intelligence products for retail dispensaries and brands, Pistil for Retail and Pistil for Brands.
Founded by executives from Google GOOG GOOGL and Baker Technologies, Pistil's IP makes market intelligence accessible to cannabis companies of all sizes.
Pistil for Retail is now in general release after a six-week beta program with five U.S. retailers. The product helps retailers optimize pricing and product assortment, enabling them to attract customers, drive loyalty, and maximize profit. The Pistil for Brands business intelligence tool is now in general release after a four-week beta program. The product helps brands and distributors uncover market and pricing insights and improve their go-to-market strategies. Pistil is now collecting data in real time and updating analytics on a daily basis.
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"There is a shakeout happening in cannabis right now, and there is no longer any room for error. Brands need to use their resources efficiently, position themselves strategically, and make sure they are in the stores that can make them money. For retailers, it means taking a hard look at their shelves and their pricing, to find a way to stand out to new and existing customers in their local markets", stated Jeffrey Graham, CEO of Pistil Data. "This is why even In the face of an industry downturn, demand for Pistil has never been stronger."
Backed by cannabis venture firm Casa Verde Capital, Pistil Data has built a customer base of 1,000+ North American companies with clients such as Connected, Raw Garden, Jeeter and Vapen. Pistil has developed a catalog of more than 3 million cannabis products which are used like a UPC code to match products across stores. Pistil analyzes products in more than 90% of stores in North America.
Photo by Thiago Patriota on Unsplash
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