Chicago-based Brightfield Group, a software company providing consumer insights and market intelligence for Cannabis, CBD and the emerging wellness industries, today announced the launch of its Cannabis Brand Health Platform. The company says the platform is an industry-first solution that provides an in-depth view of brand health derived from first-party consumer data.
Brand Health’s tracking covers the largest multi-state operators, down to emerging brands. The brands that Brightfield tracks includes: Ascend Wellness, Ayr, Body and Mind, Cookies, Curaleaf, Enlightened, Harborside, MedMen, MÜV, Rise, Star Buds, Surterra, Sunnyside, The Botanist, Trulieve, Urbn Leaf, Verilife, Windy City Cannabis and others, according to the company.
As cannabis products continue to transition from commodity to consumer packaged goods, brand success increasingly relies on consumer loyalty, not just past performance at the point of sale. To date, companies in the space have poured millions of dollars into brand-building with no effective way of measuring how much of an impact their efforts have on consumer sentiment and buyer behavior, says Brightfield.
As a provider of in-depth and actionable consumer data within the U.S. and Canadian cannabis industries, the platform allows cannabis brands across the U.S. to track how consumers perceive their brand on a syndicated, cost-effective basis. The data, says Brightfield, allows companies to look beyond point of sale performance and strategically allocate budgets to build brand awareness, drive repeat customers and build long-term leadership by tracking consumer sentiment.
“Until now the U.S. cannabis market has been too fragmented to gain a holistic understanding of the strength of a brand across markets,” said Bethany Gomez, managing director of Brightfield. “Recent consolidation and increased brand positioning have created optimal conditions for us to launch Brand Health tracking at scale.”
As an example of Brightfield’s latest Retail Brand Health research, the company finds:
- Cookies leads in awareness in California with 39% of cannabis shoppers in the state aware of the brand. Cookies and UrbnLeaf lead the pack in terms of loyalty.
- Even in medical-only markets, culturally relevant brands are quickly gaining awareness in new states they enter. Jungle Boys entered the Florida market in May of 2022, and already sees 4.1% of Florida consumers purchasing the brand.
- For a developing recreational market with limited licenses, MA has the lowest loyalty at only 22.6%, creating significant opportunities for new entrants and existing players.
For more information, visit https://www.brightfieldgroup.com/.