Brightfield Group is launching its Cannabis Brand Health Platform. The solution provides a view of brand health derived from first-party consumer data, allowing cannabis brands across the United States to optimize their brand strategy by tracking how consumers perceive their brand on a syndicated basis.
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.
With Brightfield Group's Brand Health tracking solutions, cannabis brands of all sizes can look beyond point of sale performance and strategically allocate budgets so they can build brand awareness, drive repeat customers, and build long-term leadership by tracking consumer sentiment across the purchase funnel.
According to Brightfield Group's latest Retail Brand Health research:
- 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 rec market with limited licenses, MA has the lowest % loyalty at only 22.6%, creating significant opportunities for new entrants and existing players