Nabis Releases First Look At Wholesale Category Data To Support Brands Scaling In California’s Cannabis Market
Product-Specific and Regional Sales Data Now Exclusively Available for Nabis’ Partners to Identify Market Growth Opportunities in 2023
SAN FRANCISCO--(BUSINESS WIRE)--Nabis, the leading licensed cannabis wholesale platform in the world’s largest legal market, has released to its partners a first look at its proprietary wholesale category data across flower, vape, concentrates, prerolls, edibles and personal care. These metrics shed light on both the consumer demand and financial health of California’s industry in the second half of 2022 with a look at live gross annual sales for each category, as well as the top selling markets across the state.
“We’ve never done this before and wholesale distributors are typically incentivized to keep this information private,” said Brian Dewey, Head of Business Development at Nabis. “In today’s cannabis climate, any market knowledge that companies can leverage to support their portfolio and ensure they make profitable business decisions is paramount to their success. We’re thrilled to be sharing our initial wholesale category findings, and hope it will help direct strategies as we head into the new year.”
Currently, Nabis provides its brand partners real-time access to retailer credit scores and analytics related to their business such as category and SKU performance, market saturation by territories and retailers to target. As part of its mission to revolutionize the cannabis supply chain, Nabis now tracks an additional range of market-specific data and trends to further provide its network with a comprehensive look into the state of the market through its data-driven insights.
For example, the market share by category from June-November 2022 across Nabis’ ecosystem in California dispensaries ranks as follows:
- Vape is the highest selling product category at 38%
- Flower is second at 21%
- Prerolls are third at 17%
- Concentrates are fourth at 11%
- Edibles are fifth at 9%
- Personal Care is sixth at 3%
Beyond overall sales and metrics such as product discount levels, extended terms variability and seasonality on products, the new wholesale data reflects geographic trends across California. Los Angeles, for example, is the top selling market for all categories across the state, followed by Sacramento and San Francisco.
Unlike similar platforms, Nabis’ closed loop system, combined with its robust logistical services, enables immediate wholesale data insights to be captured from the entirety of each brands’ sale cycle. With visibility into growth opportunities and market trends in every category and subcategory level, new and established businesses alike have the opportunity to identify sales gaps and targets in order to retain control amidst California’s rapidly evolving, and oftentimes unpredictable market.
“Knowing which areas in the state offer opportunities for product innovation is critical for cannabis brands,” said Dewey. “Without it, brands are essentially in the dark and forced to experiment with their sales strategies, which can be costly and counterproductive.”
These industry-specific insights are now available to current brand partners as an additional feature to Nabis’ services. The company plans to build out and integrate the formalized wholesale category data into its platform for real-time utilization in 2023.
For more information, please visit nabis.com.
About Nabis
Nabis is the #1 licensed cannabis wholesaling platform in California, supporting over 250 exclusive brands and supplying the entire network of state-licensed dispensaries with top-tier products. Nabis offers clients lightning-fast fulfillment, warehousing, payment processing, financing, data analytics, sales and marketing services to enable more brands and retailers to innovate, launch and scale. Founded in 2018 by serial tech entrepreneurs Vince C. Ning and Jun S. Lee, Nabis is fueled by cutting-edge technology designed to support cannabis wholesaling between brands and retailers. Nabis works directly with its partners to streamline the regulated cannabis wholesaling process by leveraging actionable, industry-leading sales data and insights to help brands and retailers scale strategically. Learn more: nabis.com
