SAN FRANCISCO, California, Sept. 12, 2022 – PRESS RELEASE – Pistil Data, a cannabis market intelligence platform, is now operating in every legal U.S. state with plans to expand to Canada by the end of the year. The company, which crunches billions of data points daily to help clients sort through the complexity of their local markets, also announced two new market intelligence products for retail dispensaries and brands, Pistil for Retail and Pistil for Brands.
Founded by executives from Google and Baker Technologies, Pistil’s unique IP makes vital market intelligence accessible to cannabis companies of all sizes, helping a sector that previously struggled with the complexity of industry data. The company’s growth stands apart in an industry sector that has been affected by recent recession fears and layoffs.
Announcement highlights: :
It is currently operating in every legal U.S. state. The company was operating in 2 U.S. states at the beginning of 2022. Pistil will launch in Canada in Q4. Pistil for Retail is now in general release after a six-week beta program with five U.S. retailers. The product helps retailers optimize pricing and product assortment, enabling them to attract customers, drive loyalty, and maximize profit. The Pistil for Brands business intelligence tool is now in general release after a four-week beta program. The product helps brands and distributors uncover market and pricing insights and improve their go-to-market strategies. Pistil also announced it is now collecting data in real-time and updating analytics daily.
“There is a shakeout happening in cannabis right now, and there is no longer any room for error. Brands need to use their resources efficiently, position themselves strategically, and make sure they are in the stores that can make them money. For retailers, it means taking a hard look at their shelves and their pricing, to find a way to stand out to new and existing customers in their local markets”, says Jeffrey Graham, CEO of Pistil Data. “This is why even in the face of an industry downturn, demand for Pistil has never been stronger.”
Backed by cannabis venture firm Casa Verde Capital, Pistil Data has built a customer base of 1,000+ North American industry leaders with clients such as Connected, Herbl, Raw Garden, and Revolution Cannabis. Pistil has developed a catalog of more than 3 million cannabis products which are used like a UPC code to match products across stores. Pistil analyzes products in more than 90% of stores in North America.