Buckets of ink have been spilled on pricing strategy in mainstream markets, but the cannabis industry is a few steps behind. Or was. BDSA has partnered with Apex Trading to release “Wholesale Pricing Solution,” which they are calling “the only comprehensive view of wholesale and retail pricing data.”
“The new Wholesale Pricing Solution helps both growers and retailers better understand and predict pricing patterns, adding new efficiencies to their go-to-market strategies,” said Micah Tapman, CEO of BDSA. “For the first time, cannabis industry players have a single location for all the information they need to make better decisions and accelerate their path to profitability.”
So how does this work? According to BDSA, the Wholesale Pricing Solution offers visibility into pricing trends, including weekly pricing indices, maximum and minimum pricing, breakdowns of pricing at the wholesale level for various product groups — a buds, b buds — and pricing for indoor versus outdoor products. Brands can see where the market is pricing their product and determine the best time to bring products to market. They can also use the tool to identify features that drive premium pricing. Retailers can research best pricing for various products they want to stock and identify key pricing and demand trends.
As the industry continues to expand, we expect to see more brands and retailers follow in the footsteps of mainstream companies by taking advantage of intelligence that may give them a competitive edge.