CHICAGO & BOULDER, Colo.--(BUSINESS WIRE)--IRI®, a global leader in innovative solutions and services for consumer, retail and media companies, and BDS Analytics, the leading global cannabinoid retail data and market intelligence provider, today announced a new strategic relationship that provides retailers and CPG manufacturers a holistic view of the rapidly growing legal cannabinoid marketplace. By leveraging the IRI Liquid Data® technology platform and rest-of-market understanding with industry-leading BDS Analytics’ GreenEdge™ cannabis dispensary point-of-sale data and insights, users will have access to the most comprehensive understanding of today’s hemp and marijuana cannabinoid purchasing trends.
The award-winning GreenEdge platform provides clients unlimited access to the most accurate, comprehensive and actionable data and analyses into what is selling, when, where and for how much, for the legal cannabis market in the United States.
CPG retailers and manufacturers will have access to the combined data and intelligence solutions BDS Analytics and IRI offer. Coming later this year, BDS Analytics’ retail sales data will be fully integrated into the Liquid Data platform and available through IRI’s Unify® visualization. In connection with this new relationship, BDS Analytics and IRI will be developing additional solutions that leverage the full capabilities of their combined technology and expertise.
“In a challenging CPG and retail environment, the cannabis market – including the exploding CBD category – represents an extraordinary opportunity to deliver growth,” said Robert I. Tomei, president of Market and Shopper Intelligence for IRI. “A holistic view of the cannabis market, its customers and retail sales is imperative for IRI and BDS Analytics’ clients to capitalize on this unprecedented opportunity. IRI is proud to partner with BDS Analytics, who, in addition to featuring deep cannabis industry market intelligence, distills the most granular retail sales data directly from dispensaries and enables us to continue offering the industry’s most comprehensive view of the modern retail landscape.”
“As the cannabis industry has become more mainstream, it is expected to grow to $45 billion by 2024*,” said Roy Bingham, CEO and co-founder of BDS Analytics. “Companies need to have a clear understanding of one of the most dynamic growth categories experienced by the CPG industry in decades. We have long admired IRI’s reach, expertise, data and technology, and are excited to partner with them to offer the comprehensive data and insights our clients demand.”
IRI is a leading provider of big data, predictive analytics and forward-looking insights that help CPG, OTC health care organizations, retailers, financial services and media companies grow their businesses. A confluence of major external events — a change in consumer buying habits, big data coming into its own, advanced analytics and personalized consumer activation — is leading to a seismic shift in drivers of success in all industries. With the largest repository of purchase, media, social, causal and loyalty data, all integrated on an on-demand, cloud-based technology platform, IRI is empowering the personalization revolution, helping to guide its more than 5,000 clients around the world in their quests to remain relentlessly relevant, capture market share, connect with consumers, collaborate with key constituents and deliver market-leading growth. For more information, visit www.iriworldwide.com.
About BDS Analytics:
Headquartered in Boulder, Colo., BDS Analytics provides businesses with smart, actionable and accurate cannabis market intelligence and consumer research. The company provides a holistic understanding of the cannabis market through insights distilled from dispensary point-of-sale systems through its market-leading GreenEdge™ Platform, producing comprehensive consumer research and generating cannabis industry financial projections and analyses led by BDS Analytics’ industry-leading team of thought leaders and analysts. To learn more about how you can utilize BDS Analytics' superior market research, please visit www.bdsanalytics.com.
*Source: BDS Analytics and Arcview Market Research