Price Bands Analysis

 

This dashboard is meant to help you zoom out and observe your pricing strategy at a high level. By looking at your pricing strategy at this level, you can better determine if changes need to be made.

Filters

Store Name - Filters which stores you are looking at. If you’d like to see all the stores available choose “is not null”
 

Category - You can only look at pricing for one category at a time. This keeps the data from being overwhelming and lets you have an apples-to-apples comparison.
 

Price Band Starting Place - This determines what the first price band will be. For example, if you choose $5, the first band will be <$5.
 

Price Band Bin Width - This determines how wide the bins of your price bands will be. You should use a more granular width when trying to look for small differences (e.g. the difference between $5 and $7 prerolls) and wider when you are looking for bigger differences (e.g. the difference between $10 and $25 grams).
 

Price Band Number of Bins - This determines how many bins you want to see. You should decide this number based on the bin width and the amount of variance in price in the category. For example, if you were looking at pre-rolls with a bin width of $2 and a starting place of $1, you could set your number of bins to 10 and see <$1, $1-3, $3-5, $5-7, $7-9, $9-11, $11-13, $13-15, $15-17, $17-19, $19-21, and $21+
 

Slice Data By - For several of the charts on this dashboard, you can view the price band data by package size or by brand. Viewing by brand gives you a sense of which brands are more premium vs budget. Viewing by package size can help you determine if you are covering all the package sizes vs price points that you want. Note: this data is not normalized, so package size will be based on data entered directly into the POS.
 

Brand - This allows you to filter to a particular brand or set of brands
 

Package Size - This allows you to filter to a particular Package Size or Set of Package Sizes

Visualizations

Histogram of Unit Volume

 

This chart shows you all of the price bands you’ve selected with your filters and how many units sold in each price band. This also compares the unit sales in the last 30 days, with the prior 30 days before then, and the same 30 days last year. In this example, you can see that we generally sold more pre-rolls between $3-9 last year, however, we beat last year's sale of $9-11 pre-rolls 60-90 days ago.
 

 

Pricing Bands over Time

 

 

This chart helps you look for trends in changes in unit sales for the different price bands. The above example shows a fairly stable pattern of the price band distribution except for slight increases in sales for more expensive prerolls last March.

Pricing Landscape

 

This chart helps you see the spread of your selected metric (either package size or brand) and the price bands. In this example, we are looking at preroll package sizes and brands. We can see that 25% of all preroll unit sales go to 1-gram joints in the $5-7 price range. There are two versions of this chart, one for the last 90 days and below that, a chart for the same 90 days last year. This allows you to compare differences between the same time last year.