Customer Data Can Drive Cannabis Operators Decision Making January 2021
January 2021 - Cannabis
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In traditional consumer packaged goods markets, the balance between retailers and manufacturers is dynamic and competitive. When it comes to consumer data and shopping behavior data, retailers have a huge advantage over their manufacturer providers. Why? Because they have access to SKU level shopping data, and with the advent of loyalty/frequent shopper card programs, retailers now have an extra powerful layer of consumer demographic behavior included in their tool kit of shopper related data to analyze and make future business decisions. Additionally, they can then provide this data to a third party analytics firm such as Nielsen or IRI who themselves resell it back to the manufacturer for the brand’s own analysis.
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