headset Archives - Green Market Report

Anne-Marie FischerAnne-Marie FischerJuly 12, 2019
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5min13890

According to a recent Headset market report, “Understanding the CBD market in state-legal cannabis”, CBD could potentially take up the majority of sales among non-inhalable products in legal cannabis states. If current trends continue, CBD products could even potentially become the majority of sales among the cannabis industry at large.

The data giant revealed insights into the shift in popularity and sales for CBD products, noting the passage of the U.S. Farm Bill as an important catalyst for allowing more people to access cannabis products. The report is quick to note that despite going into the mainstream, hemp-derived CBD products (now purchased at places like CVS Health Corporation (NYSE: CVS) and Walgreens) and cannabis-derived CBD products (traditionally purchased at dispensaries) are to be considered two different things.

Here are some important highlights of the Headset market report that Green Market Report finds of interest:

Google Searches for CBD

The Headset report reaches back to 2015, citing data from Google searches for CBD. At the start of that year, Google searches for CBD were nil. Google searches for CBD were at an all-time spike in May of 2019, representing a 100% increase of when CBD first hit the Google searches later in 2015.

A Non-Smoking Experience

While the cannabis industry is characterized by smoking and inhaling cannabis products like traditional cannabis buds or flower and concentrates, the CBD trends are showing that one-third of CBD sales are going to non-inhalable products. Customers are demonstrating a preference for edibles, topicals, tinctures, and sublinguals. Headset suggests that “the CBD market is expanding on top of the existing market for high-THC, psychoactive inhalable products, rather than inside it.”

The report also states that there is a “new and distinct customer base” that is more health-conscious, preferring to stay away from pre-roll and vapor pen products. 

CBD Product Categories

Within the non-inhalable CBD products category, Headset compiled data from Washington and Colorado and saw that there are 5 emerging product categories: Beverages, Capsules, Edibles, Topicals, and Tinctures & Sublinguals. 

CBD products have experienced a surge in growth in the past 12 months in comparison to tradition, THC-based products. 

CBD Edibles have always had the highest market share and retains this position, with customers gravitating to high CBD products. CBD Edibles experienced a 43.9% growth this year, compared to 24.8% growth for non-CBD edible products. Almost 50% of dollars spent on all edibles in 2019 were spent on CBD Gummies. Within the edible product category, honey, sugar, and sweeteners, CBD products made up almost 1/3 of the proportion of overall sales. 

Capsules are not showing much growth in the overall product categories. Headset speculates that this is because capsules are “usually associated with medical conditions” and that CBD is used as therapy rather than a full-on medication.

Tinctures and Topicals & Sublinguals are the dark horse of the CBD market, once having just a tiny sliver, and now taking a giant slice, growing nearly 60% in sales in the past 12 months in comparison to high-THC infused products’ 10% increase.

Headset suggests that “if your company is producing Gummies, but not CBD Gummies, you may want to adjust course”.

Opening Wallets for CBD

Average item price (AIP) and the number of products people are adding to their basket in the CBD category (basket penetration) are rising concurrently.

Since 2015, CBD went from only 3% of baskets to 7% in 2019. Average item price also is rising with the interest in CBD, indicating that “consumers aren’t only more interested in CBD, but also more willing to spend money on it”. 

 


StaffStaffJune 20, 2019
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5min5130

Scott Vickers is the co-founder and CTO of Headset, Inc., turning retail data into real-time cannabis market insights.

Headset helps companies in cannabis succeed by promoting better decision making via market intelligence offerings and operational insights in a sleek, intuitive and easy-to-use package.

Prior to founding Headset, Scott co-founded Leafly in 2010.  Scott built and managed the web and mobile applications used by millions, helping to grow Leafly into the world’s largest cannabis information resource.  When not wrangling data at Headset, he enjoys spending time outside hiking in the Pacific Northwest.

GMR Executive Spotlight Q&A – 

Full birth name: Scott Vickers

Title: CTO

Company:

Headset, Inc. (https://www.headset.io/)

Years at current company: 4

Education profile: BS Computer Science, Cal State Fullerton

Most successful professional accomplishment before cannabis: Throughout my high school and college career I worked as the sole developer at a small company providing services for mortgage banks.  That company expanded and grew and was eventually acquired, teaching me a lot about the business of SaaS along the way.

Company Mission: Our mission is to help businesses easily understand the cannabis industry through data analytics and market intelligence, enabling them to make better-informed decisions, unlocking success and pushing the industry forward.

Headset has built a data analytics platform that fosters a technology ecosystem to streamline cannabis retail and business operations, provide actionable insights, and help manage the increasing amount of complexity and fast pace of this nascent yet highly competitive industry.

From retail and vendor operations to deep market intelligence, Headset helps with business decisions across the cannabis supply chain.

Company’s most successful achievement: One of our most successful achievements is having struck strategic alliances with companies like Deloitte, Nielsen and Cowen to offer them and their clients best-in-class recreational cannabis market intelligence. It is a big validation for our mission and the quality of our platform and products.

Has the company raised any capital (yes or no): Yes

if so, how much?: In January 2019 we announced the completion of our Series A round of financing. Headset secured $12.1 million in funding from a group led by Poseidon Asset Management and AFI Capital Partners. Canopy Rivers Inc. also participated in the investment round.

Any plans on raising capital in the future? Having completed our Series A funding a few months ago, we are laser focused on executing towards our short and mid-term goals, which are: improving current products and services; expanding the company’s offerings to additional U.S. states and international markets; supporting Headset’s partnerships and strategic alliances, and serving new customers within the cannabis industry and from the CPG, beverage/alcohol, and financial industries, who are taking an increased interest in this market.

Time will tell whether we’ll be raising more capital in the future. Right now, it is all about execution.

Most important company 5 year goal: Our 5-year goal is to become the standard for Cannabis Market Intelligence across companies investing and operating in the US and other international markets where cannabis legalization ensues.

However, the only certainty, especially in this industry, is change, sometimes, very dramatic changes, from local and federal regulations to other market conditions, there’s a lot of moving pieces. Our 5-year goal could change based on those market conditions, but for now our north star is the one previously mentioned.

 


William SumnerWilliam SumnerMay 10, 2019
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5min4530

Mother’s Day is right around the corner, and if you haven’t found that perfect gift for Mom yet, don’t fret. There’s still plenty of time to find something that will make Mom smile, and if she happens to be cannabis friendly, then you are in luck. Here are a few Mother’s Day gift ideas and discounts for the canna-mom in your life:

Popular Cannabis-Friendly Mother’s Day Gifts

According to the cannabis analytics firm Headset, the most popular cannabis-friendly Mother’s Day gift are not your traditionally popular cannabis products like oil or extracts. Instead, the company sees a surge of interest in edible or topical products in the days leading up to the holiday. On Mother’s Day, cannabis tea, coffee and cocoa sales rise by about 50%. Sales of bath salts, soaks, and scrubs increase by around 20%.  Even pre-rolls see an uptick of sales by approximately 7%.

Thinking about buying Mom topical cannabis products? You might be on the right track. According to the wholesale cannabis e-commerce platform LeafLink, the overall market share of topical surges by 306% on Mother’s Day. The most popular topical brands on the platform are:

  1. Muscle Freeze CBD – Mary’s Medicinals, CA
  2. Body Balm – Nordic Goddess, CO
  3. Extra Strength Dragon’s Balm – Medicine Farm (Distributed by Pharmer’s Market), OR
  4. SYNERGY CBD Relief Balm – Dixie, CO
  5. Extra Strength Relieving Creme – Apothecanna, CO
  6. 1:1 Transdermal Compound – Mary’s Medicinals, CO
  7. Body Balm – Wrangler’s Relief, CO
  8. Extra Strength Relieving Creme – Apothecanna, CA
  9. Cannabis Infused Salve – Mary Jane’s Medicinals, CO
  10. CBD+ Healing Stick (Warming) – Wildflower, WA
A Cannabis Gift for the DIY Mom

If your mother likes to take a hands-on approach to things, or simply has a green thumb, A Pot for Pot might have what you’re looking for. A Pot for Pot is a company that sells DIY cannabis grow kits. The kits, which come in either two or five gallons, has everything you need to grow your own cannabis minus the seeds themselves. However, to make up for the lack of seeds, each kit comes with a seed discount coupon.

Mother’s Day Discounts

If you love saving money almost as much as you love your mother, then you might want to take a look at these two Mother’s Day discounts. Urban Juve, a hemp-based health and wellness brand, is offering 20% off their Anti-Aging Serum when you purchase any face moisturizer. All you have to do is use the code UJMOMS.

For those of you living in Colorado, The Green Solution (TGS) is offering a buy-one get one 50% off deal for all of their NectarBee Heal Line products; like their Fine Lotion, which is made with a 5:1 THC to CBD ratio and a blend of essential oils. TGS is also offering a complimentary stemmed flower and a comeback cash voucher redeemable for $10 off a purchase of $25, pre-tax, to moms shopping on Mother’s Day. However, the vouchers are only redeemable between May 19 and May 22.

In addition to these discounts, cannabis providers across North America will most likely be offering discounts and deals this Mother’s Day, so be sure to check with your local dispensary as well! Just remember that it does not really matter exactly what you get your mom for Mother’s Day, what really matters is the thought and love you put into it.


StaffStaffMarch 12, 2019
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8min3080

MARKHAM, Ontario, March 12, 2019/AxisWire/ Today Nielsen, Headset and Deloitte announced a strategic alliance that will provide key stakeholders in the cannabis space with critical market insights to understand federally regulated cannabis consumption and sales in Canada. The alliance will bring various data-driven offerings to the market which will allow businesses in the cannabis industry to make informed decisions for their business and customers.

The alliance members bring together data and insights that will provide real-time market intelligence for the cannabis industry and allow clients to monitor the competitive landscape, identify opportunities and stay ahead of industry trends as never before. In addition, clients will be able to easily explore pricing, category, segment, shopper insights, and brand trends to help discover opportunities in the marketplace to drive success in the evolving legal cannabis market.

“Our clients—from life science and retail, to financial institutions and government—are all looking for the same thing: information to drive action and growth,” says Jennifer Lee, Deloitte Canadapartner, who leads both the Consumer Advisory and Analytics Practice, and the Cannabis sector for the firm in Canadaand globally. “We want to see our clients succeed, which is why this alliance is so important. With this strategic alliance, we are bringing together the top organizations in the consumer and cannabis space, because we know that insight-driven organizations are more successful. When Canadian businesses succeed—from cannabis entrepreneurs to our largest clients—our country succeeds.”

With Canada becoming the first G7 country globally to legalize recreational cannabis, an entirely new industry has opened up bringing opportunity, innovation and entrepreneurship; as well as, some unknowns. With this alliance, actionable data insights from consumers and retail outlets will provide a competitive advantage to clients looking to understand the cannabis market to ensure they are executing fundamentals as effectively as those in traditional fast-moving consumer goods categories.

“As the cannabis industry heats up in Canada,it is critical that organizations leverage data to drive informed decisions in this fast-moving and rapidly developing space,”says Cy Scott, CEO, Headset. “With this strategic alliance,we are able to provide clients with unprecedented access to insights that facilitate their success in this new market that is rich with opportunity.”

“With cannabis legal across Canada, it is imperative that those involved in the industry and those looking to join, have real-time market intelligence available for the cannabis industry,” says Mike Ljubicic, Managing Director, Nielsen Canada. “This strategic alliance, along with our full suite of complementary cannabis tools, will help our retail and manufacturing clients and those looking to enter the market, to monitor the evolution of legal cannabis in Canada. Understanding the cannabis space is important to mitigate threats and identify future opportunities, as it will impact categories across the FMCG landscape.”

ABOUT DELOITTE
Deloitte provides audit & assurance, consulting, financial advisory, risk advisory, tax and related services to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500® companies through a globally connected network of member firms in more than 150 countries and territories bringing world-class capabilities, insights and service to address clients’ most complex business challenges. To learn more about how Deloitte’s approximately 264,000 professionals—9,400 of whom are based in Canada—make an impact that matters, please connect with us on LinkedIn, Twitter or Facebook.

Deloitte LLP, an Ontariolimited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/aboutfor a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.

ABOUT HEADSET
Headset is the leading cannabis data and analytics provider, turning retail data into real-time market insights. Identify opportunities in the emerging cannabis market by discovering the segments, brands, and products that are resonating with consumers, and/or understand market trends to better recognize and mitigate potential threats to your existing business. Powered by real-time transaction data from retailer POS systems along with a proprietary product catalog and dictionary, Headset provides an unprecedented view into this emerging market. For additional information, please visit www.headset.io

ABOUT NIELSEN
Nielsen Holdings plc (NYSE: NLSN) is a global measurement and data analytics company that provides the most complete and trusted view available of consumers and markets worldwide. Our approach marries proprietary Nielsen data with other data sources to help clients around the world understand what’s happening now, what’s happening next, and how to best act on this knowledge. For more than 90 years Nielsen has provided data and analytics based on scientific rigor and innovation, continually developing new ways to answer the most important questions facing the media, advertising, retail and fast-moving consumer goods industries. An S&P 500 company, Nielsen has operations in over 100 countries, covering more than 90% of the world’s population. For more information, visit www.nielsen.com.

For further information: Gillian Mosher, Nielsen, gillian.mosher@nielsen.com, 647-282-9714; or Rosie Mattio, Headset, rosie@rosiemattiopr.com, 646-415-7902; or Marilyne Plouffe, Deloitte, mplouffe@deloitte.ca, 514-393-5471, http://www.nielsen.com


Debra BorchardtDebra BorchardtMarch 11, 2019
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5min5760

There’s an old saying that ‘all politics is local’ and it turns out the same goes for marijuana prices. A new report from cannabis data company Headset looked at pricing trends from four key states that have fully legalized cannabis including two states with mature sales data and two fairly new states.

The study examines average item prices throughout 2018 and for the first two months of 2019. The sales data comes from customers who participate in store loyalty programs, as well as the $4.5 billion in transactions that Headset tracks.  

The general rule of thumb is that California prices are high by all measurements and Washington has the lowest prices in the country.  However, that isn’t the end of the story. California’s adult use sales are fairly young and with the changes in regulations last summer, the market changed dramatically. The report notes, “You might think Colorado’s vertical integration would drive the price down…but it seems to actually keep prices higher.” Various taxes within each state and the age group of consumers also affects the data for prices paid.

Headset found that the average item price (AIP) across California, Washington, Nevada, and Colorado ranged from $15-$30. States with the most mature markets had the lowest prices. Washington state started out with high prices, but the prices dropped as competition and supply drove them down and at this point, there is really no room from more price reduction. Prices in Nevada also fell as the market matured except for certain products. California’s average prices jumped by $5, but it is expected that eventually, the state’s prices will fall.

Vapes Are Pricey

Vape pens are the most popular cannabis category and the most expensive. The AIP is approximately $43. Apparently, vape pens are not as easy to buy in the illicit market which removes that level of competition keeping prices high. Nevada is the highest priced state with an AIP that comes in at $48. Headset suggests that the state knows it is mostly dealing in tourist trade and able to keep prices high.

The report did a deeper dive into the vape pen price per gram and again Nevada’s is the highest with a whopping $96 price per gram for vape pens. The lowest is Washington’s, whose AIP for vape pens is $25, but the price per gram for the pen is $36, almost three times lower than Nevada.

The price per gram measurement works well for other smokable forms like flower, pre-rolls or concentrates. Nevada is, once again, the most expensive at a price per gram for flower of $13.70 and $14 for pre-rolls. Colorado has the cheapest flower at $4.60 and Washington has the cheapest pre-roll at $5.50 per gram.

When it comes to other form factors that aren’t smoked like edibles, beverages, tinctures or capsules, the measurement is milligrams per THC. In this category, the states are very close in price with only cents separating the expensive from the cheap.

Millennials Are Bargain Shoppers

Older people with more disposable income are willing to pay higher prices for cannabis products versus millennials and post-millennials. The younger group spends on average 20% less on single grams, while baby boomers will pay 10% above the average. The younger group is willing to buy in bulk if they think they can get a good price. They are bargain shoppers. Headset thinks bulk packaging could become an important market as more millennials push for value shopping.

The report suggests that AIP isn’t the only metric to watch to see where prices are headed. They say watch the price per gram and the package size.


StaffStaffMarch 6, 2019
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7min3330

Forms U.S. Alliance with Leading Cannabis Analytics Provider, Headset to Deliver Cannabis Insights to CPG Manufacturers

NEW YORK, March 6, 2019 /AxisWire/ Today Nielsen (NYSE: NLSN) and Headset, the leading data & analytics service provider for the legal cannabis industry, announced the formation of a U.S.-specific strategic alliance to deliver a read into the U.S. legal cannabis market for consumer packaged goods (CPG) companies. This move comes as Nielsen steadily develops a full suite of cannabis measurement capabilities, inclusive of strategic partnerships and beyond, to help CPG companies monitor the evolution of the legal cannabis space, and the potential impact of legal cannabis sales to better mitigate threats and identify future opportunities.

The Nielsen and Headset alliance leverages the combined power of Nielsen’s consumer research capabilities with Headset’s real-time retail point of sale (POS) data for legal cannabis products in key legal/recreational use states, along with Headset’s proprietary product catalog, dictionary, demographic and purchase dynamics. This relationship will bring unprecedented visibility into market-leading trends, highlighting segments, brands and products that are resonating with consumers in the legal cannabis market. This alliance will also give sight into consumer attitudes, product preferences, use occasions and future intent tied to consumer interaction points within CPG categories. Collectively, this powerful suite of information will enable U.S. CPG manufacturers to more easily measure and predict the impact of cannabis on the CPG industry, and strategize accordingly. The formation of this alliance dovetails Nielsen’s recent acquisition of Cannabiz Consumer Group, a leading consumer insight group that specializes in studying the impact of marijuana legalization on CPG consumer spending and shopping behavior trends.

“Nielsen has a history of providing leading-edge analytic services for emerging categories and industries, and we are taking a similar approach with the introduction of our comprehensive suite of Cannabis related insight services,” said Jeanne Danubio, President of Nielsen, North America. “This is a noteworthy time to enter the legal cannabis measurement space. We strongly believe that Headset is the right partner to complement our services, as we commence in our commitment to provide a complete view into the important legal U.S. cannabis market for our CPG clients. We look forward to enabling their ability to measure, predict and activate against well informed, cannabis insights.”

“Embarking on a strategic alliance with Nielsen, the world’s leading market intelligence company, is great validation for not only the work done at Headset but for the cannabis industry overall,” said Cy Scott, CEO of Headset. “By combining Nielsen’s level of expertise on analytics services with the Headset platform, we can better support the first of its kind cannabis industry developing within the U.S.”

The first output of the Nielsen and Headset relationship will be The U.S. Cannabis Market Pulse Report, an industry report that will provide a thorough overview of the legal recreational cannabis space from its infancy through 2018, including key market dynamics, cannabis-interested consumer perceptions and motivations, and insights into cannabis purchase dynamics and tendencies relative to CPG categories.  Additionally, Nielsen and Headset will be developing a full suite of capabilities for the Canadian market where Cannabis was legalized nationwide in October 2018.

ABOUT HEADSET
Headset is the leading cannabis data and analytics provider, turning retail data into real-time market insights. Identify opportunities in the emerging cannabis market by discovering the segments, brands, and products that are resonating with consumers, and/or understand market trends to better recognize and mitigate potential threats to your existing business. Powered by real-time transaction data from retailer POS systems along with a proprietary product catalog and dictionary, Headset provides an unprecedented view into this emerging market. For additional information, please visit www.headset.io

ABOUT NIELSEN
Nielsen Holdings plc (NYSE: NLSN) is a global measurement and data analytics company that provides the most complete and trusted view available of consumers and markets worldwide. Our approach marries proprietary Nielsen data with other data sources to help clients around the world understand what’s happening now, what’s happening next, and how to best act on this knowledge. For more than 90 years Nielsen has provided data and analytics based on scientific rigor and innovation, continually developing new ways to answer the most important questions facing the media, advertising, retail and fast-moving consumer goods industries. An S&P 500 company, Nielsen has operations in over 100 countries, covering more than 90% of the world’s population. For more information, visit www.nielsen.com.


Debra BorchardtDebra BorchardtJanuary 31, 2019
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9min19860

Licenses for cannabis operators are multiplying as fast as the plants can be grown. According to Cannabiz Media, in the fourth quarter, the state of Connecticut doubled their dispensaries from nine to 18 and Oklahoma went on a license issuing frenzy. By the end of 2018, the Sooner state issued 805 dispensary licenses, 1,302 growers and 341 processors.

They are dwarfed by California which has almost doubled its licenses since November. The state has 10,940 active licenses, although Ed Keating the co-founder of Cannabiz Media noted that only a few dozen are annual licenses. In comparing licenses issued by activity, many categories almost doubled like distributor at 198%, manufacturer at 188%, and cultivator at 178% and retailers increased by 58%.

As more states legalize adult use sales, cannabis is becoming a rapidly growing market that topped $8.5 billion in spending in 2017 and will nearly reach $11 billion in 2018 and then push past $23 billion by 2022.

In Colorado, there were 509 retail dispensaries. Washington State has 514 and Oregon has 561. The numbers continue to grow as more states like Michigan, New York, and New Jersey begin planning for legalized adult use sales. As a result of this, being on the front line and customer facing is seen as the sweet spot for many companies. These are some of the top consumer-facing retail technology cannabis companies in the industry today.

Headset

Headset is the top retail data provider. This company captures consumer purchasing data at the point of sale in real time. Producers can use the data to learn what is and isn’t selling and determine consumer preferences. For example, when it comes to cannabis edibles, gummies are the big winner in Colorado, while mints are the product of choice in Washington. The retailers can also mine this data to track inventory levels and learn what their customers prefer. Do they like sweet or sour flavors?

Dispensary owners can also use the past performance data to predict future buying habits. If the upcoming Valentine’s holiday demonstrated a big jump in chocolate sales, then the owner can make sure they are stocked up.

Headset recently completed a Series A funding round of $12.1 million. This money will go towards improving current products and services and expanding the company’s offerings to additional U.S. states and international markets. It will also help the company serve new customers from the consumer packaged goods, beverage/alcohol, and financial industries, who are taking an increased interest in cannabis.

Springbig

Dispensaries can’t advertise in traditional methods and the customers probably wouldn’t respond to traditional ads anyway. Springbig is able to capitalize on this by helping dispensary owners reach customers in loyalty programs through text messaging. Everybody loves to be rewarded and find bargains when shopping and cannabis consumers are no different. Earning points for purchases motivates customers to stick with their favorite stores.

The data also helps owners get more sales and it also lets them analyze what works best with their customers. The company said that dispensaries that use Springbig found that their customers spent more and that revenue increased by 25%. The company can even drill down into the customer’s preference and then only send targeted promotions. For example, if a consumer only wants flower, then they won’t be sent promotions for edibles if that is what they prefer.

Seed

Seed is an in-store cannabis educator. With interactive touch screens, customers can easily get answers to their questions, which frees up the dispensary employees time. The company was developed to help the dispensary staff and also give the customer a nonjudgmental way to learn more about the products. Of course, the ultimate idea is to sell more product, but dispensaries are such a new experience for many people and the products are mostly unfamiliar. There is a huge learning curve and if you can ask your questions through a cool interactive touch screen, that seems easier than taking up  20 minutes of a budtenders time if there is a line of people waiting.

The units are integrated with the dispensaries inventory so once the customer goes through the touch screen to see what it is they want, the Seed is programmed to suggest items that are in stock. Having said that the company says it remains focused on education more than pushing a product. It isn’t a pay to play model such that one product can pay to be recommended over another.

Flowhub

Flowhub is the behind the counter solution for dispensary owners. This point-of-sale software is sold as a compliance solution to dispensaries. Flowhub includes a small handheld mobile device called a Nug to help speed up daily operations like scanning barcodes, checking in customers, and auditing inventory. The software gives managers complete control over their data, allowing them to generate inventory discrepancy reports and make adjustments before submitting via an API. Customers can also opt for the company’s free loyalty software that is included.

The system is also tightly synced up to METRC — the track and trace system used in most legal cannabis markets — making compliance really easy in those markets. At this time, it isn’t aligned with MJ Freeway or BioTrack, but that is expected to happen as the company expands into other markets. Flowhub is a little different from the others because it provides an open source option. This lets customers with a high level of technical knowledge customize the software for their needs. A tech nerd’s delight.

KlickTrack

KlickTrack is the new kid on the block after a beta launch in September. Co-founder Brendan Hill (of Blues Travelers fame) said it addresses common issues and pain points that the founders themselves experienced when they tried various software solutions as owners and operators of Paper and Leaf, a retail cannabis boutique, located on Bainbridge Island in Washington state. After years of frustration with non-integrated systems, they developed KlickTrack as a synchronized ecosystem, saving retailers time and money.

KlickTrack co-founder Steve Kessler said, “We created this system from inside a working retail shop from the ground up. We teamed with world-class developers, using a proprietary translator to solve industry-wide problems. KlickTrack removes the compliance worries from retailers and allows them to focus on running their business and having access to real-time actionable data.”

The company said it gives retailers the ability to easily view and manage inventory and offer their products organized by brand. It reduces inventory redundancies, speeds up workflow and enables retailers to maintain customer service on high traffic days. It provides real-time insights into all sales metrics, allowing retailers the ability to analyze historical customer and product data. The compliance translator ties directly into state regulatory systems and the company said it virtually eliminates the risk of fines and violations.


Debra BorchardtDebra BorchardtJanuary 8, 2019
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5min3460

It’s time for your Daily Hit of cannabis financial news for January 8, 2019.

On The Site

KushCo Holdings

Cannabis packaging company KushCo Holdings, Inc. (OTCQB: KSHB) reported that revenue rose 186% in the fiscal first quarter of 2019 to $25.3 million. Revenue increased by 26.5% sequentially from $20 million in the fourth fiscal quarter of 2018.

The company said it had to weather several challenges. Cash dropped to $3 million as of November 30, 2018, versus $13.5 million as of August 31, 2018. KushCo said that rapid demand for product and timing of inventory purchases leading up to Chinese New Year resulted in a decreased cash position and overall working capital headwinds. Gross profits were equal to 12.8%, compared with 34.8% in the prior year period.

Headset

Cannabis data company Headset secured $12.1 million in funding in a Series A round of financing. The company, launched in 2015 by the trio that co-founded Leafly,  was able to raise the capital from another equally top-notch group of cannabis investors that included Poseidon Asset Management and AFI Capital Partners and Canopy Rivers Inc. (TSXV: RIV).

Headset said that the money would be used to improve current products and services; expanding the company’s offerings to additional U.S. states and international markets, and support Headset’s partnerships and strategic alliances. It will also help the company serve new customers from the consumer packaged goods, beverage/alcohol, and financial industries, who are taking an increased interest in cannabis.

In Other News

Aurora Cannabis Inc (NYSE: ACB) said it expects to report revenue between $50 million and $55 million for the fiscal second quarter ended Dec. 31. This figure is higher than the $11.7 million posted for the same period last year and the $29.7 million reported in the previous quarter. That should have been welcome news but analysts had expected $67 million and the stock tumbled.

CannTrust Holdings Inc. (TSX: TRST) applied to list its common shares on the New York Stock Exchange.

The Knesset, the legislative branch of Israel, overwhelmingly approved the medical cannabis export law in all three readings with final approval of 21-0. The next step is for Netanyahu and his cabinet to give the final approval of the bill. Last time a cannabis export law was sent to Netanyahu, it was vetoed but lawmakers are optimistic that it will pass this time

Isracann Biosciences Inc., an Israeli-based cannabis firm, announced today it has completed a letter of intent for up to $15 million in funding to break ground on outdoor greenhouses for cannabis cultivation as the company plans to become the world’s foremost cannabis producer specializing in low-cost, superior quality cannabis.

HARDCAR Distribution announced today that it has secured the ability to do $1 billion in escrow.

Univo, the public company controlling the full medical cannabis supply chain, signed a partnership with a cannabis farm in Israel that will enable Univo to deliver 3 tons of cannabis a year for at least 3 years. Over the course of three years, this deal will be worth around $12.5 million.HARDCAR Distribution announced today that it has secured the ability to do $1 billion in escrow. The company has been working diligently to support the cannabis industry over the past 3 years, searching for ways to help their clients in any way possible.


Debra BorchardtDebra BorchardtJanuary 8, 2019
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4min6580

Cannabis data company Headset secured $12.1 million in funding in a Series A round of financing. The company, launched in 2015 by the trio that co-founded Leafly,  was able to raise the capital from another equally top-notch group of cannabis investors that included Poseidon Asset Management and AFI Capital Partners and Canopy Rivers Inc. (TSXV: RIV).

“Each one of our investors brings invaluable industry knowledge and a strong network of portfolio companies that enable us to collaborate in all new ways,” said Cy Scott, CEO, and Co-founder of Headset. “The new capital will fuel future growth, new market expansion, and enhanced product development, continuing to ensure our leadership position within the cannabis industry.”

Headset said that the money would be used to improve current products and services; expanding the company’s offerings to additional U.S. states and international markets, and support Headset’s partnerships and strategic alliances. It will also help the company serve new customers from the consumer packaged goods, beverage/alcohol, and financial industries, who are taking an increased interest in cannabis.

As a result of the investment, Emily Paxhia of Poseidon and Nico Richardson of AFI will be joining Headset’s board of directors. “As investors, we see the need for data to inform investment and M&A strategies,” said Emily Paxhia, Managing Director of Poseidon. “Headset is already tracking billions of dollars of transactions both in the US and Canada. This successful Series A raise will drive market penetration and depth of technological development.”

Headset is one of the few companies in the cannabis industry that can turn retail sales data into real-time market insights, and helping illuminate emerging trends in this fast rapidly developing industry. For example, producers can quickly learn which specific products are the top-selling ones in a market. The brands can then either brag about their leadership in sales or if they aren’t leaders, take notes from the companies that are.

The data from Headset has shown that in different locations cannabis consumers tend to have different preferences. Mr. Moxie’s Mints may be big sellers in Seattle, while Wana Brands Gummies might be the edible of choice in Colorado.

Narbe Alexandrian, VP Business Development of Canopy Rivers, concurred: “We believe that Headset’s retail intelligence platform will revolutionize the way data is used in the cannabis industry. As the cannabis market matures, data is becoming central to competitive success. It is increasingly important to understand key trends, competition, buying shifts and target demographics in real-time.”

Nico Richardson, Managing Director of AFI, noted that data is key to success in any industry, and praised Headset for delivering the most dynamic and comprehensive analytics to the cannabis industry. “We are excited to invest in a team that has built the industry’s leading data analytics and business insights platform. We look forward to supporting Headset as they expand into new markets with evolving products.”


Debra BorchardtDebra BorchardtDecember 20, 2018
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9min7780

Cannabis consumers are continuing to benefit from the focus being paid to making purchasing decisions easier. The latest improvement in the consumption process is a new multi-platform create by three of the biggest players in the cannabis consumer tool space.

Cannabiz Network, owned by CBZ Technologies has signed a collaboration agreement with Headset and SpringBig. Each of these companies is bringing their own unique expertise and combining them into one powerful platform that will benefit not only the medical customer but also the adult use consumer.

Cannabiz will be changing the way cannabis customers search, find and buy products by providing state-by-state curated e-commerce menus. Headset brings its dispensary transactional data, while Cannabiz curates daily, location-specific menus of top selling products and prices for consumers. This menu allows buyers to make a purchase for in-store pickup or delivery.

“By utilizing Headset’s real-time market data Cannabiz Network has taken online menu services a step further by introducing the “9×9″ menu which shows over 240 unique product selections daily from numerous dispensaries in their home state.” says Don Reynolds, Director at Headset. “Using our real time cannabis market data, consumers can make informed decisions on selection, pricing and delivery options from the menus offered by participating dispensaries using the technology provided by Cannabiz.”

Then, with SpringBig’s loyalty program that has three million users, customers can receive two points for every dollar spent. These points can then be redeemed for products from Cannabiz and all of its participating retailers.

“By creating this platform, Cannabiz has taken the guesswork out for the consumer. They are able to highlight top-selling and trending products in the area, show where to buy and confirm the price they should pay. This is all while earning the consumer double reward points for shopping through Cannabiz and their favorite dispensaries.” comments SpringBig’s CEO, Jeff Harris.

“Our vision has always been to create a superior e-commerce platform in the Cannabis market. We wanted a more timely and relevant experience for our consumers,” states CEO of CBZ Technologies, Michael Pasanello. “Now, with the support of SpringBig and Headset, not only are we able to bring timely and curated offers directly to our buyers, but we are able to reward them as well!”

The collaboration will be launching in early 2019 starting with (Nevada) NVcanna.biz, (Colorado) COcanna.biz, (Washington) WAcanna.biz, and (California) CAcanna.biz.



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