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Introducing Retailer Premium: Get to know your customer base

May 1, 2020

Look deeper at the levers that drive your success with Retailer Premium

Keeping a pulse on what's happening in your store is the first step to leveraging analytics to grow your business. To empower your store with a holistic view, you need tools that help you understand customer purchasing habits. What is selling is only the part of the puzzle. You have to uncover the who and when behind those sales to plan better promotions, optimize your inventory and increase your store's average basket size.

Our Retailer Premium solution helps you do just that. We've specifically built it to empower you to learn more about your store's customers and improve the way you plan for their purchasing trends. The four new modules give you full visibility into your store's revenue drivers so you can identify strategies to stay ahead of customers and ensure you're giving them what they want, when they want it.

Analyze the levers that drive your total revenue all with the same real-time functionality and dashboards you get in our Retailer Pulse subscription. The four new modules you get in Retailer Premium will enable you to do more with your store data and really dig into what's happening so you have answers when you need them. Read on to learn more about the insights you'll have access to in our premium retail offering or get started with a demo today.

Four new modules

Each of these modules is designed to help you peel back the layers and stay ahead of all the different shoppers that come into your store. You'll find a variety of dashboards within each module to help you make decisions and answer questions we've laid out below.

Basket Analysis

Identify what’s in the basket and how to grow your store's average basket size. In this module, we break sales down into the two major components: (1) total number of baskets and (2) average basket size.  There are only two ways you can grow your store's revenues, either increase the number of baskets or increase the average size of a basket. This module gives you the ability to examine these sales trends and decide how to best build a revenue growth strategy.

Questions you can answer with this module:

  • Which products are sold together?
  • How many transactions did my store have and what was the average size of basket?
  • Are baskets that contain Flower larger than baskets that contain Vapor Pens?
  • Do people that often buy Brand X also buy Brand Y often?
  • What % of baskets contain an Edible?  
  • If an Edible is an a basket what else is usually in there too?

 

Average cannabis basket over time
Average cannabis basket over time

Cannabis basket size and basket discount
Cannabis basket size and basket discount

Demand Planning

Understand the “when” behind your sales and plan for the future. This module allows you to explore when your products are purchased so you can make more informed decisions about seasonal planning, promotions, inventory, and vendor days.

Questions you can answer with this module:

  • Are there seasonal patterns for certain products, categories?
  • Are there times of day where we see more Edible consumers in stores?
  • Do I have the appropriate product assortment for major holidays?
  • How much extra sales can I expect Flower to see in the summer months?
  • How much of a sales lift do Edibles see during the Holidays?  
  • How did my holiday discounts influence my sales totals?
  • Are certain products selling more commonly in the mornings or evenings?  
  • If a vendor wants to come into my store to promote their Topicals what is the right day of the week and time of the day for them to come?

Cannabis total store sales by (units) by date
Cannabis total store sales by (units) by date

Cannabis discounts by day of week and hour - total store
Cannabis discounts by day of week and hour - total store

Marketing

Track the ROI on your marketing efforts and justify spend. With the Marketing module, you'll be able to put a spotlight on discounts and determine if referral campaigns are driving customers into the door. Additionally, using the cohort analysis dashboard, you can examine cohorts of customers based on referral source, date of first purchase, or both to evaluate how you're attracting customers and if they're the right ones.

Questions you can answer with this module:

  • Which referral campaigns are driving the most revenue today?
  • Which channels are driving the most success with product promotions?
  • Which customers are more sensitive to discounts?
  • What types of customers does each referral campaign attract?
  • Which types of customers use discounts more often?  
  • Are the customers that are new to my store today more valuable to than my current customers?

Total cannabis sales and average basket by referral source
Total cannabis sales and average basket by referral source

Average cannabis product % discount
Average cannabis product % discount

Customer Analysis

Learn who your customers are and map their purchasing patterns. This module contains seven dashboards which together offer a picture of your customer shopping behaviors. If you're struggling to understand who your customers are and how they impact your store's success, this module will help you uncover the insights you need.

Questions you can answer with this module:

  • What is the lifetime value of my customer? — does this justify my cost to acquire them?
  • Is my revenue driven primarily by one-time or repeat shoppers?
  • Who are my customers?
  • How many customers do I have in my stores in any period and who are they?  
  • What types of products appeal more to different demographic groups?  
  • When are different customer groups shopping?

Cannabis sales volume by age and gende
Cannabis sales volume by age and gender

% of cannabis customers by number of trips in period
% of cannabis customers by number of trips in period

Sign up for Retailer Premium

Move past operation efficiency and leverage more powerful, real-time analytics for your store. For a full picture of your store’s customer base and the trends impacting your sales, upgrade to our Retailer Premium platform. Our team is available to give you a demo, just request one here and someone will be in touch shortly.