Hyper-Competitive Retail Cannabis Market Fuels Demand for Next-Generation Business Intelligence
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New Frontier Data provides insight on more than 4,500 U.S. cannabis retailers via Equio®
Washington, June 14, 2021 (GLOBE NEWSWIRE) -- New Frontier Data (https://newfrontierdata.com), the premier data, analytics and technology firm specializing in the global cannabis industry, announces key enhancements to Equio®, its flagship business intelligence platform, revealing expanded market coverage to include retail and consumer intelligence for legal cannabis markets. The new functionalities represent the convergence of millions of diverse data sets analyzed and layered to create a multi-dimensional and interactive view of the expanding cannabis retail space.
“The explosive growth in cannabis consumption has given birth to new products with more variety, more consumer preferences, and consequently, a more informed consumer demanding better choices,” said Gary Allen, Chief Executive Officer, New Frontier Data. “New Frontier Data’s latest Equio release incorporates our understanding of what retailers need to compete in this new aggressive landscape: localized, digestible, actionable intelligence at every step of the journey, from dispensary visit to the final product purchase.”
This expanded Equio capability enables operators and investors to access real insights at the national, state, county and dispensary levels. By aggregating data from public and private sources including from Foursquare, a global leading geo-location-data company, Equio weaves key data sets including dispensary foot traffic, product sales and consumer profiling to provide wholistic understanding of the consumer visiting the dispensary.
“The depth and precision of cannabis market intelligence provided by New Frontier Data is shaping how smaller retailers, more-established cannabis companies and multi-state operators respond to today’s increasingly competitive dynamics,” explained Allen. “As this level of intelligence becomes table stakes across the industry, retailers can shift their focus to brand development, market expansion and customer advocacy to protect and grow their position in the market.”
Key Data and Insights Tracked on Equio:
- Foot traffic activity for ~4.1M dispensary visits per month.
- Tracking data for more than 27K active licensed service providers, including cultivators, dispensaries and cannabis delivery services.
- Retail and product performance metrics from more than 4,500 U.S. dispensaries.
- Weekly, monthly and quarterly updates on dispensary visitors, consumer profiling, product preferences and sales trends across every legal market in the United States.
“Layering real-world behavioral data on top of attitudinal and purchase data enables retailers to address blind spots about consumers and their behaviors, filling in the missing gaps so they can truly engage in a meaningful way,” said Gavin Mohrmann, Senior Director, Business Development at Foursquare.
To learn more about Equio and start a free trial visit: https://newfrontierdata.com/equio-features/
About New Frontier Data:
New Frontier Data is the premier data, analytics and technology firm specializing in the global cannabis industry, delivering solutions that enable investors, operators, advertisers, brands, researchers, and policy makers to assess, understand, engage and transact with the cannabis industry and its consumers.
Our mission is to inform policy and commercial activity for the global legal cannabis industry. We maintain a neutral position on the merits of cannabis legalization through comprehensive and transparent data analysis and projections that shape industry trends, dynamics, demand, and opportunity drivers. Founded in 2014, New Frontier Data is headquartered in Washington, D.C. with a presence in Europe, Latin America, and Africa. For more information about New Frontier Data, please visit us at www.NewFrontierData.com.
Foursquare is the leading independent location technology company, powered by our deep understanding of how people move throughout the world. Our solutions help businesses make smarter decisions, developers create more engaging experiences, and brands build more effective marketing strategies.
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