Lift & Co. launches a cannabis data platform

The review site is using its consumer data to give brands a one-stop source for insights.

Medicinal Cannabis In A Plastic Bag And In A Cigarette - Alternative Medicine

Cannabis review site Lift & Co. has launched Cohesion, a data-as-a-service platform to organize what it describes as “millions of data points” into a single source of insights.

Cohesion is meant to be a one-stop source for consumer insights into cannabis, drawing from reviews, purchase receipts and brand research Lift & Co. has compiled from both cannabis consumers and budtenders.

Available on a subscription basis, Cohesion features a high-level “scorecard” (pictured, below) that provides top-level data on nine performance indicators, with three different data modules available at launch that go into more detail: a review module (using consumer-reported data on product ratings, methods of consumption, effects and activities), a receipt module (offering projected sales volume, basket size and composition, purchase price analysis and category share of sales) and a brand module (showing brand awareness, sentiment, repeat purchase intent, engagement and perception).

cohesion-scorecard

An early version of the platform was used by Lift and research firm EY to compile a report released in the summer.

The Toronto-based company plans to release more modules in the future – including ones related to campaign and segment insights – as well as new category segments once product formats like edibles and beverages become legal for retail sale in Canada later this year.

coheseion-module

Lift & Co. is likely still best known for its online review website, but has been expanding into other areas. Last year, it launched Lift Rewards, a loyalty program that provided points to members in exchange for submitting product review. It also runs a Retail Certification Program in partnership with MADD Canada, and has used its data to help guide consumer decisions in-retail through a digital concierge. Matei Olaru, CEO of Lift & Co., said in a press release that Cohesion combines “the collective reach of [its] various platforms” and is the company’s “unique platform strategy to data collection” paying off at a time when brands in the recreational cannabis sector are “struggling to form.”

“This is more than point-of-sale data stitched together with ad hoc consumer surveys,” added Sean Copeland, Lift’s VP of data. “Cohesion is a 360-degree look at cannabis consumers across every province in Canada: their purchasing behaviours, product sentiment, brand equity and demographics.”

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