BDS Analytics, the leader in comprehensive, actionable and accurate cannabis market intelligence and consumer research, today announced the launch of the industry’s first Cannabis Retail Price Index (CPI), which will serve as a benchmark of retail pricing for cannabis products. Concurrently, the company has launched a monthly Cannabis Consumer Sales Report that outlines monthly consumer spending across five core states: Arizona, California, Colorado, Oregon and Washington.
Cannabis prices from January 2018, which coincide with the launch of adult-use sales in California, the nation’s oldest and largest cannabis market, make up the CPI baseline. All subsequent months are reported as a percent change from that month. The CPI currently provides data through October and will be updated on the second Tuesday of every month.
The index and sales report reflect more than a billion medical and adult-use sales dispensary transactions across all product categories, including flower, edibles, topicals, vape, concentrate and pre-rolled markets, captured by BDS Analytics’ industry-leading GreenEdge™ Retail Sales Tracking Platform.
“Every business in the cannabis industry is making assumptions about the current and future retail prices of cannabis products,” said Roy Bingham, CEO and co-founder of BDS Analytics. “After years of capturing and processing this data, we have decided to remove all of the guesswork for both businesses and investors by providing them with a sound basis for planning and projections.”
The October 2018 CPI was 97.52, 2.5 percent lower than in January, and 1.0 percent lower than in September.
Insights from the latest GreenEdge sales data through October 2018 show that year-to-date consumer cannabis purchases in states tracked were up 34.5 percent, led by 81.1 percent growth in the Vape category and 56 percent growth in Edibles, respectively
“The CPI is unique in its ability to index pricing across all product categories,” said Bingham. “This will prove to be a significant insight as flower rapidly becomes a commodity product and growth in the U.S. cannabis market is largely driven by new product categories.”
For more information or to opt-in to receiving the monthly reports, please visit www.bdsanalytics.com/cpi.
About BDS Analytics:
Headquartered in Boulder, Colo., BDS Analytics provides businesses with comprehensive, actionable, and accurate cannabis market intelligence and consumer research. The company provides a holistic understanding of the cannabis market by producing insights from dispensary point-of-sale systems through its market-leading GreenEdgeTM platform, driving consumer research with its Cannabis Insights Group, and generating market-wide cannabis industry financial projections through its Industry Intelligence Group. To learn more about how you can utilize BDS Analytics’ superior market research, please visit www.bdsanalytics.com.
Source: PR Newswire