Design Your Menu, Set Prices With BDSA's New Analytics Solution For Cannabis Retailers

Zinger Key Points
  • BDSA’s Menu Analytics tool allows retailers to track in-stock and out-of-stock trends, COO Liz Stahura tells Benzinga.
  • The tool will also help brands explore regional markets and craft a holistic pricing strategy.

Retail data provider BDSA recently confirmed the availability of its Menu Analytics solution for cannabis industry leaders.

The tool is expected to help companies make data-driven pricing, sales, marketing and merchandising decisions.

Menu Analytics provides cannabis retailers, brands, and investors deeper insights into the menu-listed pricing availability of brands and products at a local and store-specific level. Among its offerings:

  • Unlocking key retailing opportunities by identifying distribution gaps.
  • Uncovering store-specific pricing and assortments.
  • Using trend analysis to identify product restocking issues.
  • Enabling brand evaluation based on markup, velocity, availability, and price

"BDSA’s Menu Analytics provides granular data that informs sales velocity and pricing analysis," BDSA co-founder and COO Liz Stahura told Benzinga.

With BDSA’s Menu Analytics tools, retailers can track pricing and in-stock and out-of-stock trends by category, brand, and product within a customized market or competitive set, she explained.

  • "This visibility into store-level trends allows retailers to tailor demand planning and pricing strategies for their specific storefronts, and react to opportunities such as when nearby competitors sell out of high-demand products,” Stahura added.
  • The tool will also help brands explore regional markets and craft a holistic pricing strategy.

"BDSA’s Regional Market Explorer provides brands and brand houses with hyper-regional data on price, markup, and distribution metrics at retail, supporting the development of a holistic pricing strategy," Stahura said. "For example, a client recently utilized Menu Analytics to identify and quantify when discounting on the premium brand cannibalized sales of their budget brand.”

Photo by Stella de Smit on Unsplash

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Posted In: CannabisNewsRetail SalesManagementTop StoriesEconomicsMarketsTechInterviewBDSABusiness IntelligenceCannabis BrandingCannabis MarketingLiz Stahuraretail cannabisretail cannabis sales
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