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

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.