The cannabis industry represents an opportunity for rapid growth among cannabis manufacturers and retailers, as well as CPG manufacturers and retailers eager to incorporate CBD into their products and make them available to consumers. Yet the same dynamics that make cannabis rich with opportunities also create significant risks.
Bringing Data and Analytics to the Cannabis Market
BDSA provides retailers, manufacturers, brands, wholesalers and investors with actionable insights that drive profitability, increase revenues, reduce expenses and outmaneuver the competition.
Teams use BDSA’s suite of products to set and adjust prices to maximize revenues and margin, and gain the greatest market share possible. Proprietary data sets and algorithms give brand managers a competitive advantage.
BDSA data and analysis answer questions such as, “Should I drive forward with plans to expand into limited license states or tackle the massive California market?” and “Is it better to follow the headlines and chase branded ingestible products or to follow the connoisseurs into the world of craft concentrates?” Proprietary algorithms, powered by the highest quality sales data and driven by the latest statistical tools, cut through the fog and give your team a leg up on your competition.
Clients can gain historical data with BDSA’s team of experts and trending research going back to 2015 to see how demographics and attitudes have changed over time.
They can also measure the success of day-to-day sales operations, promotions and pricing with retail sales tracking, attract new customers with insider knowledge of product needs and shopping experience desires with consumer insights, plan effectively for expansion with the support of market forecasts and reporting on regulatory and other impacts to the industry.
Rapid Growth, but Lots of Potential Potholes
BDSA’s most recent market forecast report projects annual global cannabis sales to grow from $30 billion in 2021 to $57 billion in 2026, a compound annual growth rate (CAGR) of almost 13%. In the United States, cannabis sales will grow from $25 billion in 2021 to $42 billion in 2026, making up 75% of total global cannabis sales. Despite an inflationary environment and concerns about a recession that dampened consumer spending, the legal United States cannabis market is expected to grow 12% by the end of 2023, reaching $29.6 billion. By 2027, the U.S. is forecast to deliver $45 billion in total legal sales.
Building Awareness of Market Opportunities
BDSA has charged UPRAISE with earning high-quality and high-quantity media coverage to keep BDSA at the top of mind with decision makers versus many other players that provide what are perceived to be similar services.
Our campaign has included combining press releases, market reports and forecasts and proactive themed pitching to earn outstanding results. Specific media-focused activities include:
- Position BDSA spokespeople as market thought leaders
- Recommend timing strategy of announcements to optimize coverage
- Propose ideas to continuously ensure BDSA’s share of voice remains #1 among market competitors
Often, we have recommended seasonal pitches around events such as the Super Bowl and July 4th that provide an added level of timeliness and relevance.
Outsized Results Lead to Market Leadership
From July 1, 2021 to June 30, 2023, we earned BDSA outsized results and set the standard for providing data and insights to the cannabis industry. These results included:
- Secured 20,566 media placements (average of 857 media placements per month)
- #1 share of voice versus competitive data and analytics providers
- Facilitated 444 media opportunities
- Pitched 29 proactive themes to media
- Drafted, edited and distributed 14 press releases
- Secured 10 podcast opportunities
Some of the tier-one coverage that UPRAISE earned for BDSA includes:
Legal Weed Sees Momentum in States, Illicit Competition in 2023
Cheap Weed Has Become a Big Problem in the Pot Industry
Green Wednesday Is the Cannabis Version of Black Friday
Cashless ATMs Have Grown Into a $7 Billion Marijuana Loophole
Germany Eyes Potency Limits for Legal Recreational Marijuana
FDA Objects to CBD as Diet Supplement, Extending Uncertainty
U.S. Legal Cannabis Market Sales to Soar to $45 Billion in 2027, Says Top Researcher
Global cannabis sales to skyrocket to $57 billion in 2026, says top market research firm
The Hockey Stick Turns Into Bell Curve: A New Report From BDSA Sheds Light On Cannabis Industry Growth
CBD Market To Reach $19.5 Billion By 2025, But Only With FDA Approval, Says Top Researcher
The Best New CBD Skincare Products of 2021 (So Far
5 Cannabis Experts Weigh In On Why the Future of Edibles is Fast-Acting
Top Cannabis Researcher Predicts Double-Digit Increase in Sales on July 4th
New Cannabis Pricing Analysis Report Reveals Similarities–And Differences–In North America Markets
International Weed Sales Projected To Reach $35 Billion In 2022
American Cannabis Consumers Eye Opportunities Presented By Legal Marijuana In Germany
How Cannabis Brands Can Stand Out With Values
How to Invest in Marijuana
Miracle Drug or the Devil’s Lettuce?
Insider Q&A: Roy Bingham, CEO of cannabis research firm BDSA