headset Archives - Green Market Report

StaffStaffMarch 12, 2019
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8min1520

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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5min3930

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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7min1780

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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9min11900

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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5min2030

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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4min4300

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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9min5530

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.


StaffStaffDecember 20, 2018
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5min2290

Cannabiz Network releases a B2C commerce platform powered by Headset’s Real time cannabis market data and SpringBig’s loyalty software

ASBURY PARK, NJ (December 20, 2018) /AxisWire/— Cannabiz Network, owned by CBZ Technologies, today announced their multi-platform collaboration agreement with Headset and SpringBig. This trio of Cannabis industry leaders create a powerful value proposition of targeted, localized consumer tools and reward options for medical and recreational dispensaries by state.

Cannabiz is changing the way consumers search, find and buy Cannabis products by providing state-by-state curated e-commerce menus. Using dispensary transactional data provided by Headset, 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.”

Through SpringBig’s loyalty solution platform, their 3 Million + users 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.

About Cannabiz Network

Founded in 2013, CBZ Technologies is an intellectual property company that strives to provide transparency and efficiency in the purchase, pickup and delivery of curated Cannabis products between the dispensary and consumer. This is accomplished through proven, scalable end to-end dispensary software solutions. To date CBZ own 227 domains and owns all rights to Canna.biz® Canna.biz Network® and CBZ™.

About Headset

Headset is a data and analytics service provider for the Cannabis industry, with a mission to help operators make more informed business decisions through data. Headset focuses on consumer transaction information to help cannabis retailers better optimize operations while leveraging aggregate and retailer-direct sales data to provide product manufacturers, processors and distributors the tools to identify trends and opportunities, stay competitive, and collaborate with retail customers.

About SpringBig

Founded in 2012, SpringBig is the leading provider in customer loyalty and marketing communications solutions for Cannabis retailers. With customers across the United States, SpringBig is helping dispensaries keep their customers connected and engaged while allowing them to track their inevitable success and ROI in real time.[/vc_column_text][/vc_column][/vc_row]


Jack SmithJack SmithJuly 10, 2018
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4min18642

Vape pens, a discreet way to let people consume and smoke cannabis, continues to see strong growth in Washington, Colorado, and Oregon, new research shows.

Investment firm Cowen, combined with Headset, which is described as a “leading data provider in the U.S. cannabis industry,” shows that vaping has continued to gain in popularity, outpacing other forms of cannabis consumption.

“Across these three states, vapor is showing notable growth from a category share perspective (averaging 14.7% share),” Cowen analyst Vivien Azer wrote in the investment note. “The growing popularity of vapor looks to be fairly consistent across all three of these geographies, which is similar to the trends that we are seeing for nicotine consumption (where consumers, and in particular younger consumers, are increasingly moving away from combustion).”

Azer added that in markets like Colorado and Washington, vapor share is now at between 13 and 15 percent, up from January 2017. In Nevada, it’s even higher at 18.7 percent, compared to an initial reading of 15.7 percent.

“The distinct trends noted in today’s report around pricing, disruptive form factors and shifting consumer preferences are squarely based on sales data drawn from states representing nearly one-quarter of the total U.S. population residing in jurisdictions that have legalized cannabis for adult-use,” Azer said in a statement, discussing her research.

The findings are significant, as these three states generated more than $2 billion in sales, with Colorado the biggest market at $1.1 billion in 2017. Washington generated approximately $928 million in cannabis sales, while Nevada saw $198 million in sales in the first six months the data was available.

In addition to being popular with consumers, value-added products, which may include vapor pens, as well as other products such as edibles and topicals, could see pricing power, Azer wrote in the note.

“In particular, we see healthier pricing trends for tinctures & sublingual products, topicals and edibles,” Azer wrote. “We believe this better pricing could reflect the appeal that these products have among less sophisticated cannabis consumers.”

Conversely, products that are combustible, have seen a decline in popularity in the aforementioned states. Flower now has a 52.1 percent market share and pre-rolls account for 7.7 percent as of May 2018, but they are ceding market share fast.

“Over time, we would expect to see consumers continue to move away from whole flower purchases as innovative products offer more consumer control and convenience,” Azer wrote in the note.

Azer estimates the U.S. cannabis industry could reach $75 billion in sales by 2030.

 


StaffStaffOctober 10, 2017
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3min11960

Millennials are dominating the cannabis market in Washington state. A new report from Headset Cannabis Intelligence found that half of all the marijuana purchases were from people under the age of 35. In 2016, they accounted for 49% of the market and so far in 2017, the number has shifted upwards to 51% of the market.

Generation Xer’s between the age of 35 and 53 were responsible for 35% of cannabis sales for 2017 and the baby boomers who covered the 54-75 age group only managed 15% of sales.

The millennials may be the biggest group coming through the dispensary doors, but they don’t spend that much. The average item price for millennials was $13.87, Gen Xer’s spent  $15.33 and Baby Boomers spent $17.16. The old hippies aged 75 and older are spending $21.09 on average for an item.

The Headset report said, “This data also offers some interesting insight about price sensitivity, showing that Millennials are, as might be expected, more attracted to items with a low overall cost. It might make more sense to buy an entire ounce if you break down the cost per gram, but if you’re just finding your feet in the workforce, that $6 pre-roll special might be a godsend.”

When it comes to product preference, flower is still the big winner. 58% of the millennials buy flower, followed by 17% spent on concentrates and 13% spent on pre-rolls. Gen X is even higher with 63% spent on flower and baby boomers spending o whopping 67% on flower. While all generations seem to agree they like flower, they also seem to agree on the type of flower. Hybrid strains are the predominant choice with over 60% of the money spent on flower going towards hybrid strains. 19% is spent on Indica strains, while 17-19% is spent on Sativa’s.

In the Washington market, there are clear winners for flower favorites. Phat Panda is number one across the three main demographics, while Northwest Cannabis Solutions comes in strong at number two. The remaining top five included the following brands: Artizen Cannabis, Golden Tree Productions, Clandestine Gardens and Fireline Cannabis.

One statistic that is sure to bother dispensary owners and producers is that the average basket size has declined across the board. Gen Xer’s and Baby Boomers experienced a 25% decline in their purchases, while Millennial basket size fell by 18%.



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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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