Bill Sluben, previously known to us as the COO of Dynamic Jack and Rude Girl Edibles, famous for the Rude Girl Cookie Dough, has embarked on a new venture in the New Mexico cannabis landscape, founding The Data Heard.
The Data Heard emerged as a response to the glaring absence of high-quality, actionable data available to cannabis brands and retailers. Bill's personal struggle to anticipate market trends 90-180 days into the future prompted him to seek a comprehensive and strategic resource that could aid in making informed business decisions leading to success.
The New Mexico cannabis market is evolving at a rapid pace, marked by a surge in the number of licenses issued to potential retailers statewide. Bill's estimation suggests that there are approximately three times the number of retail stores in metro Albuquerque (October: 202) required to meet the current demand from shoppers. This influx of competition has resulted in increased bundling, promotional pricing, and BOGO deals to capture the shopper's attention and wallet.
The Data Heard's reports for October reveal that 65% of all operating retailers in New Mexico reported sales of less than $50,000 to the CCD. This statistic highlights the predominance of small, independently-owned stores and multi-storefront operators who may be operating under financial strain. To mitigate these challenges, some retailers are reducing SKU quantities, trimming expenses related to inventory management, acquisition, and training, cutting back on inventory, and optimizing labor costs.
Bill Sluben expressed, "These dispensaries are open to innovative approaches that boost sales, enhance customer engagement, and foster loyalty. This is why a partnership with Scott and Priscotty is particularly enticing."
"The Data Heard delves into the data to extract critical insights. I grasp the nuances and possibilities within the New Mexico cannabis market. The Data Heard delivers measurable value by identifying opportunities related to market trends, retail site selection, product and inventory assortment, production forecasting, inventory management, and retail optimization," Bill recently shared with us.
With seven years of experience in the cannabis industry, Bill has supported brands and retailers in various states, including Florida, Georgia, Connecticut, North Carolina, Massachusetts, and, of course, New Mexico. He previously served as the Director of Brand Marketing at Surterra, where he oversaw the launch of Coral Reefer, a THC brand, in 33 Medical Cannabis Wellness Centers in Florida. He also held the position of Senior Marketing Director at Incredible Edibles, a wellness retail concept specializing in developing and offering health-focused CBD-infused products.
If you are interested in getting great insight into the New Mexico market, the Data Heard offers two comprehensive and strategic packages on their website at www.thedataheard.com. The standard data and insights package is priced at $79, with no binding contracts required.
For more updates and information, you can follow Bill on LinkedIn at linkedin.com/in/billsluben.