We're just over two months into this new "norm", and with each new week, we're seeing new market and consumer shifts. To better navigate those inevitable changes, we've created dashboards specific to helping you understand the COVID-19 pandemic.
The two dashboards will be located in our Insights Premium platform and will provide you with a robust view of the effects of the COVID-19 pandemic. Both dashboards focus on current market trends to allow our customers to understand how the market is growing, shrinking, and changing as the world around us is altered by social distancing. We made this dashboard because of the interest in our blog updates and we wanted our subscribers to be able to dig deeper and do the analysis that matters most to them and their businesses.
Why should you use the dashboard?
Everyone has questions right now and few have the answers. As an Insights Premium user, you'll now be able to get a sense of the effects of COVID-19 on the cannabis market, as it's all unfolding. The dashboards give you a quick look into trends in sales growth, shifts in consumer preference, and even changes in timing of purchases. Below you'll find more details on the two dashboards and the questions they'll help you answer.
All Market Overview
The "All Market Overview" dashboard will show Insights Premium subscribers top-line market changes across ALL markets. We know how important it is to get a full read on how each market is responding to today's climate, so we've made every market available to all users.
- How did sales shift, if any, during COVID-19?
- Are all markets reacting the same?
- What day of the week/hour is most popular for shopping during COVID-19?
- Are some categories out-performing others?
This dashboard will show Insights Premium subscribers deeper market trends. With this dashboard, customers can choose how they would like to compare the data. If, for example you would like to compare Chocolates across markets - great!. If you would like to compare package sizes in Flower - great! If you would like to compare a few Flower Brand’s eighths - perfect! The flexibility you get with this dashboard is one of it's top benefits. You can slice the data to uncover a variety of trends.
A key piece of information for this dashboard is that it is subscription specific. While it provides visibility into all markets, (Canada included) your subscription will determine the number of markets you're able to access with this dashboard specifically.
We're excited about this one! There's a lot you can do with this. You can then compare markets, categories, segments, brands, or package sizes to see how the market is changing.
Example Analysis (1):
- Select USA in the country and all markets as states. Select Flower as your Category and Package Size as your Compare By. Here you will see that during the panicked buying we see that ounces saw the most substantial growth. This waned as the realities of the current world set in. However, we see 1 gram packages continue to under perform the market. Likely because consumer are making larger purchases to avoid going to the stores as frequently.
Example Analysis (2):
- Select USA and all markets as states. Select Concentrates as your Category and Market as your Compare By. Scroll down to the Size and Sales by Growth and Price Brand. Uncheck the “<$5” Price Band and you will see that in CA the Concentrates with the most growth are priced between $50 and $60 but in NV that growth has happened mostly in Concentrates priced between $10 and $15. Concerned this is overly influenced by differing package sizes? Go back up to the top and select only .5 gram packages. Now you will see the $10-$15 in NV continues to be a major growth contributor but the $50-$60 in CA does not. To further examine this go up to the top and select just CA and Concentrates and change your compare by to be package size. Rinse and Repeat until your eyes hurt from the screen bc you can be in this dashboard for HOURS.
Not subscribed? Learn more about leveraging our Insights Premium platform and start using these new COVID-19 dashboards today.