BDSA has introduced its Basket Analytics solution, the most in-depth solution of its kind in the cannabis industry.
BDSA Basket Analytics is now available on BDSA’s GreenEdge platform. Retailers can maximize basket sizes and in-store experience via unique and strategic store layouts and planograms, positioning products most likely to be purchased together on shelves to encourage cross-sell and upsell opportunities. Further, retailers can unpack untapped promotional programs, educate their budtenders to increase basket size, and generate more consumer trips to the stores and higher basket sizes when in the store.
Manufacturers and brands can build strong retailer sales stories and relationships with quantitative proof of their brand’s value to a store. Further, they can drive successful innovation, better manage product portfolios, and create relevant and impactful marketing campaigns and promotions.
BDSA can now put specifics around how cross-brand and cross-category consumption translates to volume. Baskets containing concentrates in Colorado, for example, are among the biggest in dollar size. While concentrates tend to have a higher retail price, 20 percent of the time these shoppers are also buying flower and 14 percent of the time they are also buying edibles.
“Retailers are intently focused on increasing basket sizes, and manufacturers must create and expand penetration within stores,” said BDSA CEO Micah Tapman. “Our new Basket Analytics solution with insights down to the brand level enables all cannabis industry participants to be more successful. More and better data enables manufacturers and retailers to make better informed decisions that lead to increased revenue, more effective promotions and enhanced market share.”