From Hazy to Clear: Incorporating Data in your Cannabis Business
In today’s hyper-competitive cannabis landscape, a data-driven culture can make all the difference. From day one, cannabis businesses should strive to incorporate data into operations to make more informed decisions, problem-solve effectively, and understand the cannabis consumer and what drives their purchase decisions.
What’s in Store for Legal Cannabis this Holiday Season?
When we take a close look at the biggest holidays for cannabis, there is much more to the picture than just cannabis-focused holidays like 420. In recent years, the Fall and Winter holiday seasons have grown to present some of the biggest opportunities for boosting sales.
USD Sales Share Shift: The Power of Infused Pre-rolls & Solventless Concentrates
The pressure to price competitively and produce winning premium consumer-loved cannabis products is greater than ever, especially given the current state of the U.S. legal cannabis industry.
The state of the U.S. Legal cannabis industry may seem very doom and gloom, but it’s not. If anything, it’s an opportunity to strategically think outside the box, understand the needs of today’s modern U.S. consumer, and develop winning products that solve those needs. By leaning into rising product subcategories like infused pre-rolls and solventless concentrates, brands can grow their sales by appealing to a targeted set of consumers that seek out premium products and are willing to pay for quality.
Cannabis Industry Shift: Adult Use Markets Launch Quicker and Medical Channel takes the Hit?
In 2022, total U.S. legal cannabis sales increased to $26.4 Billion (+38% vs. total 2020 annual sales). This sales growth is just one of many stories that reflect the evolution of the U.S. legal Cannabis Industry.
Not only are Adult Use channels increasingly driving growth, but Adult Use markets are coming online faster. With a highly competitive brand landscape, diverse and innovative product category mix, and enticing consumer, brands in cannabis experience the same issues as their counterparts in other consumer-driven markets. Brands are constantly working to find new ways to build consumer loyalty, and a thorough understanding of the evolution of Adult Use and Medical markets is key to targeting specific consumer segments.
Top Five Best-Selling US Cannabis Brands
MSOs and Vape Brands Take Top Spots in BDSA’s TOP Five Cannabis Brands List Updated to reflect Top Brands in 2023 Introducing the Top Cannabis Brands covered by BDSA’s brand-tracked markets: AZ, CA, CO, IL, MA, MD, MI, MO, NV, NJ, NY, OR, PA The Whys Behind the Top Cannabis Brands: INHALABLES DOMINATE: According to […]
How New Adult-Use Markets Accelerate the Expansion of Legal Cannabis
So far this year, Virginia, New York, and New Mexico have legalized adult-use sales, bringing the total of states with adult-use cannabis to 18, in addition to the District of Columbia, Guam and Northern Marianas Islands. With the passage of legalization in these states, more than 108 million Americans aged 21 and over, 43.2% of […]
CANADIAN CANNABIS SPENDING SOARS TO $2.6 BILLION IN 2020
BDSA estimates that total legal cannabis spending in Canada reached more than $2.6 billion in 2020, based on BDSA’s Canadian retail sales tracking and available government data through February. That is slightly higher than BDSA’s previous forecast of $2.5 billion—which was intentionally conservative in anticipation of impact from the COVID-19 pandemic. As in the United […]
Using Basket Analysis to Win in Store
A high-level understanding of cannabis markets is key for any business looking to succeed in the industry. But as legal markets mature, those in the highly competitive cannabis retail space need a more detailed view of consumer behavior and purchasing trends to stay ahead of the curve. BDSA offers a variety of tools to help […]
Top 10 Cannabis Predictions of 2021
The Year Ahead – The Cannabis Industry in 2021.
THE VAPE MARKET’S ROAD TO RECOVERY
Once the fastest-growing product category in cannabis, vapes were the focus of the industry’s first public health crisis with the appearance of E-cigarette and Vaping Product Associated Lung Injury (EVALI) in late summer 2019. Despite seeing ups and down in the first half of 2020, in part due to the impact of COVID-19, vape sales […]