Hoodie Analytics Unveils New Market Intelligence and Product Data Management Platform
Industry-leading data platform adds game-changing data tools, including dispensary analytics, product velocity metrics and store-level segmentation
CHICAGO, Sept. 25, 2023 /PRNewswire/ -- Hoodie Analytics (Hoodie), a leading U.S.-based cannabis data and technology firm delivering insights into market performance and competitive intelligence, today launched its new cannabis insights and product data management platform, which adds several game-changing data tools, including dispensary analytics, product velocity metrics, store-level segmentation and wholesale systems integration. Each of these market intelligence mechanisms will allow operators to closely monitor competitor trends, understand sales shifts at different dispensaries, make brand-level comparisons and filter data by demographic or custom segments.
"Only Hoodie provides brands and operators tools to understand sales and velocity movements all the way down to an individual dispensary level," stated Wes Shepherd, CEO and Chairman of Hoodie. "High-level market data has been available in a limited number of states for some time now. However, we felt it was imperative to introduce CPG analytics capabilities to the industry as it evolves. By doing so, our clients can access much more granular data that allows them to understand how their brands fit and perform within specific types of dispensaries, cities or key customer segments."
Hoodie is a tech-forward cannabis intelligence platform founded on the belief that cannabis businesses need deeper operational insights to reach their full potential. Hoodie stands apart from its peers by offering around-the-clock online knowledge management, world-class customer service support, ROI measurement tools and key data points unique to each market. Operators have access to the platform's cumulative three billion daily observations across more than 10,000 stores and nearly 10 million monthly customer store visits. All help them to customize their service to best assist medical patients and adult-use consumers along their cannabis journeys. With a dynamic suite of tools, businesses in all locations and of all sizes can react to competitor tactics, track dispensary performance, reallocte time to vital tasks and efficiently improve price, promotion and inventory management. Hoodie is the platform that meets cannabis operators where they are and helps them reach success at their pace.
"1906 is proud to be one of Hoodie's very early clients. For a brand like 1906, Hoodie has the best tech and team in cannabis analytics. Their attention to our feedback and constant innovation have been remarkable compared to other options," stated Peter Barsoom, Co-founder and CEO of 1906 New Highs. "Across nine states, we use everything they have from sales enablement to multi-state wholesale analytics and it impacts every department. We have been early adopters of the Product Catalog, a new groundbreaking offering that makes it finally possible to ensure dispensary menus are accurate."
Hoodie uses an inventive mix of industry-related data to help businesses make critical decisions. For example, a small dispensary in Michigan can use Hoodie's insights to learn that different consumer demographic groups, such as those between ages 21-26 or who earn between $30,000-60,000 per year, are likely to buy a very different brand of gummy than that state's average bestseller. Similarly, a large-scale retail business in New Jersey can use the Hoodie platform to better understand why sales of their top five flower strains vary significantly based on the needs of their local consumers. Relying on state-level data to make assortment decisions is no longer a viable option when granular data shows major differences in product appeal based on consumer demographics. Hoodie allows businesses of all sizes in all locations to cater to their actual, known customers with the right product mix and pricing strategies.
"Trusted data and analytics are the bedrock of our decision-making process at Good Day Farm. To move at the speed of weed, drive results, and optimize outcomes, we believe it is absolutely necessary to have reliable cutting edge information," said Andrew Salini, Chief Revenue Officer of Good Day Farm. "In a year since meeting Hoodie, our understanding of the competitive landscape has improved so materially, and the resulting ROI has been so significant that we are now building our enterprise-wide analytics platform and product lifecycle management with their support."
For more information regarding Hoodie Analytics' data solutions, please visit https://www.hoodieanalytics.com/.
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