Company
A Canadian cannabis company engaged in the cultivation, processing, and distribution of cannabis and cannabis-derived products. The company operates a diverse portfolio of brands catering to both medical and recreational cannabis consumers and is one of the largest cannabis producers in the world.
Annual Revenue Range:
>$500M
Industry:
Cannabis
Locations:
North America, Europe, Australia, Asia-Pacific, Latin America
Deployed Solution(s):
Vistaar CannaPrice 2.0
Business Challenges
• Staying afloat in the ever evolving and highly regulated cannabis industry requires a keen understanding of a complex pricing landscape.
• This company faced a multitude of challenges: from managing millions of price points across a multi-tiered supply chain with omnichannel sales (B2B, B2C, and D2C), navigating a labyrinth of regulations and taxes to satisfying highly price-sensitive consumers in a fiercely competitive market, both legal and illegal.
• Recognizing these hurdles, the Company knew they needed a sophisticated pricing solution to optimize revenue, build stronger customer relationships, and achieve sustainable success.
Vistaar Solution Highlights
• Vistaar’s CannaPrice 2.0 is an adaptive, ‘future-ready’ pricing platform that equips fast-growing Cannabis companies to drive better margins through price differentiation at scale by harmonizing Pricing and Trade Promotions.
• Enables omnichannel pricing across the B2B, B2C, and D2C sales and distribution channels covering the entire value chain comprising Suppliers, Wholesalers, Distributors, Retailers, and Consumers.
• Enables proactive Price Management with quick identification of price/margin opportunities and simulation of the impact of price changes on revenue and margin share of distributors/retailers.
• Provides data-driven, optimized price recommendations that balance the twin goals of market share growth and profitability.
• Enables integrated Pricing and Promotion management, harmonizes pricing and trade promotions and streamlines the price and trade promotion planning, execution, and tracking processes across channels.
• Provides end-to-end visibility with a full view of everyday and promotional prices and margins across the entire value chain, from Supplier to Retailer.
Sources of value
The broad objectives of their pricing journey were to industrialize pricing and harmonize promotions across the value chain covering all the geographies and the associated regulatory constraints.
Vistaar’s CannaPrice 2.0 empowered this growing cannabis business with scalable pricing methodologies, standardized communications and workflows, automated price publishing and distribution, and provided meticulous oversight through comprehensive audit and tracking capabilities.
It enabled users to make better pricing decisions with optimized data-driven recommendations while aligning pricing and trade promotions with market conditions and internal financial goals.
