Well, let me start the second part first. The solution that I’m proposing to Retailers, Producers, and customers is a combination of what I believe is the “Holy Trinity” of cannabis related data.
Right now, we’re collecting product data. We’re about to launch into collecting Retail data. And then we’ll combine that with consumer data – all of a sudden we’ll have our first holistic look at the cannabis marketplace. I think what’s super important to remember is that right now we have little insight into the motivations, goals, and life-world of the consumer. What are they buying and why? What are they trying to achieve? Are they achieving it? You can’t get this from retail sales data alone. You can’t get it from production data. But it all plays a part in telling that story of “what is cannabis actually doing for people and their lives”?
So how are we going to get there? We started off with our Producer Connect platform – connecting Producers and Retailers, so that Retailers have, for the first time, access to the comprehensive information they need.
However, we have realized that this is not enough to provide people with access to information. We have to help them use this information in a useful way in their day-to-day lives. So now that they have it, what can they do with it?
We’re putting specific, detailed product knowledge in the hands of Budtenders so that they can truly connect with their customers in a way that allows them to understand products and have a deep knowledge. And this acknowledges that it is impossible for anyone to memorize cannabinoid and terpene mixes of everything they sell – nobody can do that. But what you can do is learn which cannabinoids and terpenes are good for which use cases and then have access to that information.
And that is Cannametrics Budtender. We’re going to put detailed product knowledge in the hands of Budtenders as well as education to help them make the most out of that information. What are the cannabinoids and terpenes, what do they do, how do we talk meaningfully to our customers about that.
From there, we’re going to collect feedback from the Budtenders. What insights can we gather from talking to consumers? What do these insights tell us about these products, about their needs and goals, what is working to connect the customer with the product, and who is that customer specifically? This is critical demographic and psychographic information that will help us understand how we’re truly connecting the dots on the sales floor.
Then the next piece of that is putting technology into the customer’s hands to be able to record their experiences, benefit from those insights and feed that back so that Producers can know what effects their products are having on people. So Retailers can know and answer, with an evidence basis, how to connect the right people with the right products? If you are a certain type of person looking to have a specific experience, what’s most likely to work for you? By combining those three data sources, we begin to have a true look at who is buying what for which purposes. Who is being successful and how can we tailor our inventory to serve our community better? How can we create products to help people better?