BDSA now offers first-of-its-kind basket analytics for the cannabis industry

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BDSA (Boulder, CO) has announced that Basket Analytics are now available on its GreenEdge platform. This means that BDSA can now provide specifics around how cross-brand and cross-category consumption translates into volume. For example, baskets containing concentrates in Colorado are among the biggest in dollar size. While concentrates tend to have a high retail price, 20% of the time shoppers are also buying flower, and 14% 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. Our new Basket Analytics solution with insights down to the brand level enables all cannabis industry participants to be more successful,” said Micah Tapman, CEO of BDSA, in a press release. “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.”

To maximize basket size and in-store experience, retailers can create unique and strategic store layouts and planograms that position products most likely to be purchased together on shelves in close proximity to encourage cross-sell and upsell opportunities. For manufacturers and brands, it’s important to build strong retailer sales stories and relationships with quantitative proof of their value to the store. Basket analytics can help accomplish these goals.