Bhang Inc (CSE:BHNG, OTCQB:BHNGF) said it has partnered with Hoodie Analytics, one of the largest and most impactful platforms in the cannabis space, to streamline its sales insights and strategies.
Hoodie Analytics tracks over 4 million daily unique offers in over 8,500 dispensaries in the US and Canada and tracks sales metrics such as pricing, promotion, stocking status, distribution and share of shelf.
"Complex, strategic decisions require more than just accurate data over a certain period. We need real-time analytics to understand where and when we can make a difference," Wes Eder, Global VP of Revenue for Bhang said in a statement.
READ: Bhang partners with cannabis marketing agency Petalfast to expand California presence
"Our new relationship with Hoodie Analytics sharpens Bhang's toolkit, providing key industry data that will save us time and money, and further streamline our sales process. I'm excited to start working with them," he added.
The multi-state agreement was entered into on August 18, 2022.
"Hoodie Analytics does more than improve our ability to monitor retail activity. It ensures that we understand our market presence and helps identify opportunities where we can make a difference," added Graham Simmonds, Bhang's chairman of the board and new interim CEO. "Hoodie's real-time data combined with its next-day insights provides access to market trends and metrics within hours. From a sales perspective, as well as product development, it will be a game changer for Bhang and its evolving approach to market."
Hoodie Analytics was founded on the belief that cannabis businesses need deep operational insights and applications. Its team has decades of experience with e-commerce intelligence and market measurement in markets such as consumer-packaged goods.
"Helping brands like Bhang make a clear shift to data-driven decisions is what we live for. Making better decisions leads to making more money - and our goal is to make it so easy for our customers to use our data that it feels as comfortable as brushing their teeth every morning or wearing your favorite hoodie," said Kris Walker, chief commercial officer at Hoodie.
"We could not be more delighted to help Bhang identify opportunities to make more money - and to operationalize this process across all of their markets and channels," Walker added.
For over a decade Bhang has delivered exceptional sensory experiences to consumers through its extensive portfolio of over 50 master-chef-created cannabis, CBD and terpene products including gourmet chocolates, pre-rolls, CBD isolate, and Hempsticks.
The company's chocolates are among the top-selling edibles in seven US states and Canada. Bhang's CBD products are globally distributed and are known for being safe, efficacious, and delicious.
Contact the author at jon.hopkins@proactiveinvestors.com