No doubt, the cannabis industry is growing. Cannabis sales jumped by 40% in 2021 and reached an impressive $25 billion. With this astounding growth, it is no longer “if you build it, they will come”. When it comes to opening a dispensary in a lot of states, you need to do everything possible to stand out in the crowd.

As a retailer in the cannabis industry, getting a hefty piece of the green pie is all about knowing your target audience, what they’re buying, and catering to that demand.

But how do you get this information, so you can market effectively? Data intelligence and marketplace analytics are a huge part of the equation.

Jump to: Top Cannabis Data Intelligence Companies and Software Solutions

Featured solutions:

• Headset

• BDS Analytics

• Surfside

• Hoodie Analytics

The Importance of Cannabis Data Analytics

Regardless of the industry, market data analytics are incredibly valuable. This systematic analysis of available consumer data and statistics provides key metrics marketers can use to better target customers and optimize marketing efforts.

The information can also be used to understand buying behaviors, adjust inventory, and make predictions about future growth. As far as cannabis industry data analytics, brands can use the information to:

• Develop product offerings proactively instead of reactively

• Determine which market segments are most interested in what cannabis products

• Create more effective branding strategies as a business

• Enhance the customer’s in-store experience

• Make educated plans about how the business model may need to change going forward

Top Cannabis Data Intelligence Companies and Software Solutions

Cannabis is a uniquely regulated industry, which means some larger data intelligence companies are not on board when it comes to things like benchmark reports and consumer data initiatives. Nevertheless, there are some key players that have stepped up to offer either periodic reports on the cannabis industry or market analytics software, and in some cases both.

Headset

Headset is one of the longest-standing cannabis data intelligence companies and is trusted by organizations and retailers in multiple states. This brand offers data intelligence for canna-businesses to leverage. However, they also provide retail software solutions like Retail Pulse and Retailer Starter for store-based cannabis analytics.

BDS Analytics

BDS Analytics offers reports on cannabis sales forecasts, trends, wholesale pricing, and other levels of cannabis market intelligence. BDS allows retailers to look at top-performing products, emerging shifts in sales volume, typical pricing in the industry, and a wealth of other information.

Surfside io

Surfside cannabis analytics software is designed to simplify measuring market data tied to both in-store and online sales. However, this end-to-end technology allows users to also build their own marketing campaigns based on certain demographics of their target customer base. The software integrates with other software solutions in use by most cannabis dispensaries, such as POS systems and ERPs.

Hoodie Analytics

Hoodie Analytics is a cannabis data intelligence platform that offers operational insight to dispensaries and others in the cannabis business. With insights like pricing comparisons among local dispensaries, product offer tracking, and more, Hoodie updates data daily with real-time menu scans. Access to this level of data helps dispensaries stay ahead of their competition.

Read more: Dispensary POS systems

Is Your Brand Harnessing the Power of Cannabis Industry Data?

At the root of any successful cannabusiness is a stellar marketing plan, and we can help you build just that. Ready to talk about how we can help with your digital marketing strategy? Let’s get a conversation started.