headset Archives - Green Market Report

Julie AitchesonSeptember 21, 2021
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Cannabis data and analytics specialist Headset just released its latest report comparing US medical and recreational cannabis market development, bearing results that reveal sales patterns and unifying trends across the industry.  The report’s findings are grounded in the context of the predominant pattern of a three-step process in cannabis market development, including prohibition, medical access, and adult-use legalization. 

Though there are exceptions to this evolution where markets leapfrog medical use and go straight from cannabis prohibition to adult-use legalization, flagship states like California, which approved medical use in 1996 but took another twenty years to allow adult-use cannabis, follow a more predictable pattern. The report compares California’s slower rollout to Illinois accelerated process, evident in its shorter six-year span between medical and recreational legalization. 

The Medical To Rec Jump

Due to the time-tested predictability of this market pattern, industry analysts are using it to make sense of the past, paint a clearer picture of the present, and forecast future sales patterns in states such as New York, New Jersey, and Montana, which will all be transitioning to recreational use this year. Headset’s report also looks at cannabis markets in Illinois and Michigan, which made the medical-to-recreational transition fairly recently, and Colorado and Oregon, which jumped on that bandwagon much sooner. Overall, analytics show significant growth when markets first transition to adult-use, as illustrated by Illinois’ 226% gain in the period between the January 2020 launch of their recreational market to July 2021. Michigan’s recreational use program may have had a more sluggish start, but its total adult-use sales still saw a whopping increase of 1077% over the same period.

The impact of adult-use legalization on the medical market is less predictable and more state-specific. While Illinois medical use sales initially held steady once adult-use legalization passed, Michigan saw 75% growth in medical sales between January 2020 and July 2021. Still, the proportion of total cannabis sales to medical patients in Michigan has steadily declined since the introduction of the recreational market, and Illinois saw a steady decline over the first quarter resulting in an all-time low of 20.9% in July 2021. However, Colorado and Oregon, two of the most mature recreational markets in the country, offer some evidence that adult-use legalization is not necessarily a death knell for medical use. Oregon’s medical sales have held steady at 8-12% since the beginning of 2020 with Colorado topping that over the previous twelve months at between 18-20%.

Medical Patients Spend More

Buying behavior differences between recreational and medical use consumers can impact the market as well. Headset data shows that medical consumers tend to purchase more product at one time (a metric they refer to as “basket size”) than recreational consumers, giving Oregon as a prime example, where pre-tax average basket size for medical patients over a 90 day period was a staggering 99% larger than that of recreational use customers. Consumer differences carried over into preferred consumables as well, with medical patients trending higher in concentrate consumption versus the recreational user predilection for edibles and pre-rolls. 

In the end, lower taxes, higher potency THC products and more knowledgeable staff and sales experience give the medical use market enough of an edge that it shows some promise of holding its own, even with the advent of adult-use legalization. Given the astronomical growth spurt of new adult-use markets, however, Headset’s latest findings suggest that medical cannabis will be lucky to maintain its ten to twenty percent of total market share.

 


Debra BorchardtSeptember 8, 2021
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Cannabis consumers flocked to dispensaries on the Friday of this past Labor Day weekend resulting in the third-largest day for cannabis sales in 2021. Unfortunately, that was the only good news for cannabis retail. Overall, sales dropped in 2021 versus 2020 for the last weekend of summer. Analytics firms Headset and Flowhub both reported that sales dropped for the regions they cover. While  LeafLink the B2B wholesale e-commerce marketplace company saw an early jump in orders for the holiday, orders seemed to taper off as the weekend got closer.

Headset

According to cannabis data and analytics company Headset, Labor Day weekend (Friday 9/3 through Monday 9/6) actually saw a slight decrease (-3.2%) in average daily sales in comparison to the previous four weekends. On a positive note, though on Friday 9/3/21 alone, we see a different story. Sales on September 3rd, 2021 were up 10.3% over the previous four Fridays and drove this day to be the third-largest day of total US cannabis sales so far this year. All data for the US is from the following markets: CA, CO, MI, NV, OR, PA, WA.

Beverages For The Win

Headset said that for the full holiday weekend, the only categories to see sales growth over the previous four weekends were Beverages (+8.4%) and Edibles (+4.2%). “When we look at only Friday, September 3rd instead, all categories saw positive growth with Edibles (+15.1%), Capsules (+13.3%), and Vapor Pens (+11.2%). The category with the lowest sales lift was Concentrate with +2.8% growth over the previous four Fridays.”

Coupon Clippers

Dispensaries must’ve had an inkling that sales might be down because there was a slight increase in discounting over the entire holiday weekend. Headset said that the average discount over Labor Day Weekend 2021 was 13.7%, up from 12.3% over the previous four weekends – a relative increase of 11.8%. While Friday, September 3rd was the highest sales day of the weekend, Labor Day itself (Monday 9/6) had the highest average discounts of 15.1%, up 27% over the previous four Mondays. 

LeafLink 

On the wholesale side of the business, it seems dispensaries were planning ahead for a busy holiday. LeafLink said that sales increased 4.33% during the month leading up to the 2021 Labor Day holiday versus a 2.39% increase across the same period in 2020. Leaflink also said that the most significant GMV (gross merchandise value) percentage increase came during the week of 8/15, increasing 4.5% over the previous. Sales then leveled off for the rest of the weeks leading up to Labor Day.

Leaflink outlined the category demand as follows for the holiday:

  • Flower remained the most popular category in the month leading up to Labor Day, driving 36.33% of GMV compared to 35% of GMV in the month prior to Labor Day 2020 and 35.37% in the previous month. 
  • The second most popular product category leading up to Labor Day 2021 was Cartridges, which made up 22.29% of GMV (about a 1% increase over the previous month). This is a slight drop over 2020 when Cartridges made up 24% of GMV in the month before Labor Day. 
  • Flower saw significant growth during the week of 8/15, increasing 23% in GMV compared to the week before then grew another 9.9% in the following week. This could signify an increase in dispensaries stocking up on Flower in advance of Labor Day 2021. 
  • Packaged Flower was the most popular subcategory, making up 17.47% of total GMV in the month before Labor Day, with Bulk Flower coming in second at 16.29%

The most popular products in the month leading up to Labor Day in 2021 were: Slurricane Packaged Flower – MUV (FL) 

Gelato Cake Packaged Flower – District Cannabis (MD) 

Wedding Cake Packaged Flower – Pacific Stone (CA) 

Blueberry Indica Gummies – MUV (FL) 

Moon Rocks Concentrates – UBaked (MI) 

The most popular Cartridges in the month leading up to Labor Day 2021 were: Biscotti – Platinum Vape (MI) 

Sour Jack – MUV (FL) 

Double Bear Honey Cart – Terrapin (PA) 

Pink Lemonade – MUV (FL) 

Pie Driver – Platinum Vape (MI) 

Flowhub 

Flowhub provides point-of-sale, inventory, and other dispensary analytics. That company found that on average, Labor Day normally outperforms the typical Monday by 17-27%. Unfortunately, Flowhub’s data agreed with Headset as this year’s Labor Day 2021 was right on par with (actually slightly less than) a typical Monday. Flowhub said that there didn’t appear to be any holiday bumps in sales or transactions for Labor Day Monday and sales dropped by 9% versus the 2020 holiday.

Maybe the pandemic lockdowns of 2020 caused consumers to buy more last year? Labor Day’s Monday 2020 sales increased around 10% versus 2019. Just one year later as more people were able to get out and return to a less restrictive lifestyle, Labor Day weekend sales dropped 35% compared to 2020. On average, Labor Day weekend outperforms the typical (median) weekend by 15-21%. Flowhub said that Labor Day weekend 2021 sales were 27% less than sales on a typical summer weekend.


Debra BorchardtAugust 24, 2021
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Michigan is on fire when it comes to cannabis sales. While the state is relatively new to legal adult use sales, the market is quickly becoming a force to reckon with. A new report issued by cannabis data collection firm Headset digs deeply into where the sales are coming from and what Michigan consumers like the most.

Watch Out Colorado

Headset noted that from January to July 2021, Michigan has recorded $970.4 million in sales, exceeding both Washington and Oregon markets. Michigan is only $145 million behind Colorado. At this rate, Michigan could give Colorado  run for its money. Headset said that adult-use sales continue to grow at an average of 10% month over month. In May, Michigan’s cannabis sales ($148.9M) were less than $8.5 million short of overtaking Colorado’s sales ($157.2.7M)

Chart provided by Headset

“When we break down Michigan’s medical and adult-use cannabis markets, we find that in January, Michigan’s medical sales made up 38% of total sales but decreased to 27% of sales in July.” The report did caution that growth in both portions of the market were slowing down slightly. That could be a sign that the market is beginning to stabilize. Headset also pointed out that Michigan is following the same month over month growth as other more mature markets.

Michiganders Love Edibles

Like most cannabis markets, flower is the top category for consumers. Michigan flower represents 50% of the market share, second only to Nevada where flower takes a 55% market share. Vape pens are second place taking 19% of the market share. However edibles are the big category winner in the state. Edibles have captured a 13.8% market share – the most of any state. The state’s cannabis consumers are less inclined to buy pre-rolls and concentrates. 

Headset wrote that California has sold more edibles so far in 2021 than Colorado and Michigan combined. However, Michigan has sold more edibles than Colorado by 416K so far this year. “Michigan is selling their Edibles at an average item price of $14.48, which is 11% lower than California’s average item price of $16.23.”

While gummies are usually the biggest edible winner in most states, Michigan consumers actually have a high preference for Caramels, Chews, and Taffy. Gummies do command 71% of the state’s edible sales, but 10% of the sales to go to the “chews” category. By comparison, only 5.8% of the California market goes to the “chews” category and in Colorado only 5.6%. 

 

 


StaffMay 3, 2021
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Cannabis data firm Headset has raised $1.825M in a round led by Silverleaf Venture Partners, a private equity investment manager. the company said that this additional funding will accelerate expansion into legal markets and support new opportunities across the growing cannabis industry. Headset said it will deploy capital which will allow the company to quickly expand its market intelligence platform.

“The cannabis industry continues to expand at a significant rate, with new markets legalizing faster than ever before,” said Cy Scott, CEO, and Co-Founder of Headset. “With this new round of capital, Headset can better support these emerging markets while continuing to deliver the innovative analytics Headset is known for.”

Since its launch in 2015, Headset has been the leader in powering advanced and unparalleled analytics services for growing customer bases within cannabis, supporting retailers and dispensaries in over thirty territories, with market projections in the U.S. and Canada. They continue to elevate the caliber of the cannabis industry providing precise data-driven insights to brands, dispensaries, retailers, and organizations in the financial services and consumer packaged goods sector.

Other participating investors are WGD Capital, L.P., a cannabis-focused venture fund, and Poseidon, a leading investor in the legal cannabis and hemp industries. Poseidon was founded by Emily & Morgan Paxhia in 2013, making their first fund one of the longest-running dedicated cannabis investment funds.

“We are thrilled to be investing with the industry’s leading market intelligence platform,” said Douglas Hannah, Co-Founder of Silverleaf Venture Partners. “Silverleaf’s brand and dispensary partners consistently advised us that Headset’s information was clear and accurate, which gave managers confidence in making key business decisions.”

“As a former Chief Technology Officer, I can confidently say that Headset’s platform is unrivaled in any industry,” said Andre Haroche, Co-Founder of Silverleaf Venture Partners. “What CTO Scott Vickers and the Headset team have achieved is truly remarkable; they have created usable, actionable information from an entire industry’s data-set in real time.”


StaffApril 27, 2021
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Pennsylvania has only legalized medical marijuana, but the numbers make it look as if it is adult use cannabis driving the sales. Cannabis data company Headset recently expanded its reach into Pennsylvania and published its first full market report based on consumer insights and real-time market data. The report found that over the past twelve months, Pennsylvania’s medical cannabis sales have escalated, and between April 2020 and March 2021Pennsylvania’s medical markets brought in $909.4 million. Medical sales grew 120% in the first quarter of 2021 to $267.8 million from last year’s $121.5 million for the same time period.

The report also determined that Pennsylvania stands out among other U.S. markets with the largest average basket sizes so far this year, at $123.88 per basket. In addition, Pennsylvania’s average basket size was 2x as high as Michigan’s and 1.5x as high as Oregon’s.

“With close to $1B in sales in the last 12 months and growing at an incredible pace, we are thrilled to bring unprecedented insight into this exciting market, ” said Cy Scott, Founder and CEO of Headset. “As cannabis operators continue to make significant investments into Pennsylvania having access to extensive analysis, forecasts and a comprehensive understanding of this complex market as it continues to grow will be critical to success.”

Provided by Headset

Flower Is The Winner

Like most cannabis consumers, flower is the form factor of choice – despite being medical patients. It is even growing in market share. Flower was 38% of the market in March 2020 and is now 45% as of march 2021. Vape pens have dropped in market share, but still remain in second place taking 35% of the market. Concentrates had the highest average item price at $61, and tinctures, flower and vapor pens followed closely behind with an average item price of more than $50.

Legalization Outlook

Pennsylvania is the 5th largest state by population and is expected to be a big market with rapid growth. A new survey from Muhlenberg College’s annual public health poll found residents want full legalization.

“The trend on public support for legalization of marijuana in Pennsylvania is clear, with support growing for the eighth year in a row,” Chris Borick, director of the college’s Institute of Public Opinion, said in a statement accompanying the survey results. “As the state government considers this policy option, the public is increasingly coming to the conclusion that they support legalization.” A record level (58%) of adult Pennsylvanians support the legalization of marijuana in the Commonwealth, marking the 8th consecutive wave of this survey that support for legalization has increased in the state.

 


StaffDecember 4, 2020
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7min12950

Data from both Akerna (Nasdaq: KERN) and Headset agreed that Green Wednesday (the day before Thanksgiving) sales in 2020 easily beat Black Friday sales for the first time. Cannabis consumers clearly wanted to make their purchases in advance of Thanksgiving and were less inclined to go shopping afterward.  

Business intelligence from Akerna found that cannabis consumers spent approximately $238 million during the 2020 Thanksgiving weekend (11/25 – 11/28).  Green Wednesday was the single biggest sales day of 2020 with an 80% increase in daily sales. The average basket size for medical consumers was $122.64, representing a 5% increase over the daily average. Adult-use consumers spent, on average, $78.14, which is an increase of approximately 12%. 

This also marks the first time in four years that Green Wednesday has beat out Black Friday, which also saw a 75% increase in sales. 

“Once again, Thanksgiving ranks in the top 5 cannabis sales days of the year,” said James Ahrendt, Business Intelligence Architect, Akerna. “As we have noted throughout the year, daily sales averages have increased over the last year as a result of COVID. Since average days show such notable year-over-year growth, the percentage of growth during the holidays doesn’t seem as large. However, this is because more people, in general, are purchasing cannabis.”

Additional Insights

Sales by Product Category

  • Flower – 46.8%
  • Cartridge/Pens – 30.2% 
  • Concentrates – 13.9%
  • Infused Edibles – 7.4%
  • Other – 1.7%

Sales by Age Group

  • Under 30 – 29.2%
  • 30-40 –30.6%
  • 50 – 19.3%
  • 50-60 –11.9%
  • Over 60 – 9%

Sales by Gender

  • Female – 36.7% 
  • Male – 63.3% 

Headset Green Wednesday 

Here are the sales totals across all Headset Insights Premium Markets for Green Wednesday, Thanksgiving, and Black Friday 2020, plus the relative growth over last year’s totals for the same days:

 

Total Sales (CA, CO, NV, OR, WA)

  2019 2020 YoY Growth
Green Wednesday $29.4M $33.2M 12.9%
Thanksgiving $9.7M $11.2M 15.2%
Black Friday $31.4M $31.1M -0.9%

 

Headset noted that that overall sales increased this year on Green Wednesday and Thanksgiving, but sales on Black Friday were actually slightly lower this year than last year. The company said, “This is big news because this would be the first time we’ve seen a year-over-year decrease in such an important retail holiday in cannabis.”

Also very notable, this is the first time that total sales have been higher on Green Wednesday than on Black Friday. Headset fans may remember that data analyst Cooper Ashley predicted this in his recent interview on Cheddar TV. “

 

Sales Increase vs Previous 4 Weeks

  2019 Sales Lift 2020 Sales Lift
Green Wednesday 59.5% 40.2%
Black Friday 16.3% -4.7%

 

“Here we can see that this year both holidays had less of an increase in sales versus the previous four weeks. Green Wednesday’s relative increase dropped from around 60% last year to 40% this year, whereas Black Friday had 16% growth in 2019 and actually had about 5% fewer sales in 2020 versus the previous four Fridays. Both of these decreases could be related to the recent uptick in COVID-19 cases and increased lockdown measures in many recreational cannabis states.

 And lastly, we can see that on both holidays average basket size was much larger in 2020 than in 2019, which is something we’ve seen throughout the COVID-19 pandemic.”

 

Basket Size

Date  2019 2020 Growth
Green Wednesday $38.84 $48.38 25%
Black Friday $41.85 $50.56 21%

StaffNovember 25, 2020
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6min10480
Predictions for 2020
Headset

Headset forecasts an even larger than usual uptick in recreational cannabis sales on Green Wednesday this year for several reasons:

–  In all adult use cannabis states tracked by Headset, the total market has grown by at least 20% in total revenue over last year (when comparing October 2019 to October 2020).

– During the COVID-19 pandemic we have seen significant changes in consumer behavior. In March and April 2020, when many states were enforcing stay-at-home orders, the cannabis market saw a decrease in total transaction volume, but a significant increase in average basket size. This makes sense because customers were likely trying to minimize their trips to the dispensary, so they bought more per trip.Through the summer and into Autumn, average baskets have stayed significantly higher than they were pre-COVID, but transaction volume has crept back up to nearly the same level it was at in February. These two trends combined indicate a ‘new normal’ in the cannabis industry driving the highest monthly revenue totals since the beginning of the legal sales.
– Additionally, with many states reinstating COVID-19 lockdown measures, and advising against travel and social get togethers, Thanksgiving 2020 will be unlike any in living memory. With millions of Americans being asked to stay at home for the holiday, frankly, what else is there to do?
– Edibles have performed well throughout the COVID-19 pandemic. That along with their usual strong sales lifts during the holiday season leads us to predict Edibles and Beverages to again be the categories with the biggest sales lifts on Green Wednesday this year. Both product formats are conducive to indoor consumption (for those that don’t want to smoke or vape in their homes), and THC infused Beverages are often associated with celebration, as they are increasingly seen as a substitute for alcoholic beverages.
Akerna

“On average, Thanksgiving tends to be one of the Top 5 sales holidays of the year, and we expect that trend to continue this year,” said James Ahrendt, Business Intelligence Architect, Akerna (NASDAQ: KERN). “In the past, we’ve seen huge spikes in sales on Wednesday and Friday since most dispensaries are closed on Thursdays.”

Akerna anticipates that the average order total will be around $82.30 for adult-use customers and $128.46 for medical consumers, representing an increase of approximately $13 compared to the average order total on any other given day of the year.

Additional Thanksgiving Holiday Predictions:

Sales by product type:

  • Flower – 42%

  • Cartridge/Pens – 37%

  • Concentrates – 11%

  • Infused Edibles – 8%

  • Other – 2%

Sales by Gender

  • Male – 64%

  • Female – 36%

Sales by age group:

  • Under 30 – 28%

  • 30-40 –30%

  • 40-50 – 19%

  • 50-60 –12%

  • Over 60 – 11%

LeafLink
The cannabis industry, as measured by cumulative wholesale transaction volume growth through the LeafLink marketplace, increased by 40% between the start of the pandemic in March and October 2020. Overall, cumulative wholesale transaction volume is up 60% through the end of October compared to the start of the year, and we expect the growth trend to remain healthy through the end of the year. – Alex Feldman, General Manager of LeafLink Insights

Julie AitchesonNovember 18, 2020
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Though April 20th takes the top prize in cannabis sales year after year, Green Wednesday (Black Friday’s cannabis counterpart) has come in a strong second place since its inception in 2016, and 2020 looks to be no different. As a result of clever moves by retailers to offset pandemic-related impacts on buying behavior, starting deals and discounts earlier in the season than ever before, and tailoring the shopping experience to customer health and safety concerns, Green Wednesday sales for 2020 are poised to hit an all-time high. 

A November 16th press release from the National Retailers Federation and Prosper Insights and Analytics cited the results of an annual survey which showed that shoppers are getting an earlier start on purchasing for the upcoming holidays. According to the survey, 59 percent of holiday shoppers had already started making purchases as of early November– a 21 percent increase over figures from ten years ago. Despite the Covid crisis, consumers seem to feel confident in the efforts retailers are making to keep them Covid-free, with 70 percent saying they feel safe shopping in stores. One such safety measure includes stocking shelves with gift items earlier in the season and offering special deals to avoid overcrowding as the season progresses.

Deliveries Increase

Eaze, a cannabis delivery platform in California, posted new data showing that Green Wednesday 2019 saw a 90 percent increase in deliveries over a typical Wednesday and a 147% increase in deliveries over the previous year. Cannabis data and analytics provider Headset posted a comparison of Green Wednesday and Black Friday sales from 2019 on its blog, which showed record Green Wednesday sales, although savings lagged behind Black Friday bargains. The study attributes this to bigger discounts and lower average item prices on Black Friday.

Retailers hit hard and early with special deals and holiday gift packages to tempt those seeking to spread some cheer this holiday season and they’re not letting up as the week of Thanksgiving approaches. Beyond the standard pre-rolls, tinctures, and vape paraphernalia, companies like Her Highness, a lifestyle brand based in New York City, offer 25% off gift items like the Grindzilla Cannabis Grinder and the Lip Service Ashtray (shaped like, you guessed it, lips) while Indiana brand Cannabolish is promoting its products with a 30 percent Green Wednesday deal featuring its popular Odor Removing sprays and gels and candles to make sure cinnamon and pine are the only top notes in your holiday home. 

Caliva is also offering a variety of deals on products that will help you survive the season – whether that be teaching grandma how to get on zoom (again) or kickstarting your metabolism for the big Thanksgiving feast. On Green Wednesday (11/25) Caliva is offering up to 40% off select top brands: Caliva, DELI Nickels, Plus Gummies, KIVA, and more! On Black Friday the company said customers will receive an extra deal when they pay through Hypur, the first digital payment solution for cannabis transactions. The promotion will be available through Caliva delivery online and all Caliva / DELI retail stores.

Top Selling Products

Chart provided by Headset

According to LeafLink, a B2B e-commerce wholesale marketplace that connects retailers and brands, in 2019, sales through LeafLink increased by 5.45% during the two weeks leading up to Green Wednesday and the Thanksgiving holiday weekend. What products were the most popular as retailers stocked up for the holiday weekend? Flower was the most popular product category at the time, making up 31.2% of the market share in the week leading up to Thanksgiving. However, Disposable Cartridges and Pre-Rolls experienced the biggest sales lifts, seeing a 29% increase and a 44% increase, respectively.

Here are the top 5 selling Pre-Rolls of 2020, according to LeafLink List:

  • Caviar Joint from Kaviar (CO)
  • Mini Fuzzies from Sublime, CA
  • Wedding Cake Pre-Rolls from Pacific Stone, CA
  • Relax & Chill Pre-Rolls from Exotic Blendz, OR
  • Bubble Joints from the Flower COllective, CO

So whether you go for some fancy swag, all-natural home care products, or perhaps a cozy fireside read like Bong Appetit (a weed cookbook from the editors of Munchies), there are ample ways to cross some friends and family off of your shopping list this year. If consumer behavior and favorable legislation continue on their current trajectory and retailers keep ably adapting to these uncertain times, Green Wednesday could give Black Friday and Cyber Monday some serious competition when the sales numbers come through for 2020.


StaffSeptember 21, 2020
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A new report from analytics company Headset found millennials to be the biggest category for cannabis consumption in California and their overwhelming choice for form factor is smoking. The latest report on August sales read, “Millennial Males contributed to the most sales with 37.5% of the market share.” Millennials in general spent 43% of their money on flower, 9% on pre-rolls, and another 23% on vape pens. Making almost two-thirds of all purchases in the inhalant category.

Female cannabis consumers in this category weren’t as big of fans of the smokable categories. Millennial females spent 17% of their money on vape pens in California, which was far less than the men. However, this was the biggest category for female vape pen buyers. Other female age groups spent much less on vape pens.

Top Five Vape Pens

Among all demographics, these were the top five vape pens sold in California for August:

  1. Stiizy
  2. Raw Garden
  3. Heavy Hitters
  4. ABX
  5. Select

“The most notable difference between these brands is that the Gen Z and Millennial age groups contribute an enormous proportion of sales to the top two brands, STIIIZY and Raw Garden. Because Millennials drive the majority of Vapor Pen sales and Gen Z has the strongest over-index of any age groups to vapes, Vapor Pen brands targeting these groups could potentially see strong sales. While Heavy Hitters and ABX, ranking 3 and 4 respectively, under-index to Gen Z and Millennials, they are still successful brands in the California vape market and have strong over-indexes to both Gen X and Baby Boomers. This shows that even within a category, there are brands that resonate best with different types of customers.”

Washington

The August sales report also took a deep dive into the state of Washington as a comparison. Men also dominated the smokable categories in this state as well. Over 60% of the sales in the flower and vape categories were by men. 59% of pre-roll sales were also men. Women in this market prefer edibles. They make up 35% of the total cannabis market in the state, but when it comes to edibles, they account for 43% of the sales. Here are the top ten edible products in Washington according to Headset:

Top Ten Edibles

  1. Magic Kitchen
  2. Hot Sugar
  3. Craft Elixirs
  4. Verdelux
  5. FlavRX
  6. CannaBurst
  7. The 4.20 bar
  8. Honu
  9. Mr. Moxey’s Mints
  10. Smokiez


StaffAugust 31, 2020
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Cannabis analytics firm, Headset said it has raised $3.2 million in a bridge round from existing investors, led by Canopy Rivers with participation from Poseidon Asset Management and others. The company said that the additional funding will be used to accelerate entry into new markets and expand the use of its market intelligence platform across the growing legal cannabis industry. The cash infusion will be used to help Headset expand into new states and provinces where cannabis is legal, including in markets expected to open up post-election.

“Headset has been a true innovator in this space, working diligently to provide customers with a platform that is essential to staying competitive,” said Narbé Alexandrian, President and CEO at Canopy Rivers. “We’re happy to provide additional capital as they bring this service to new markets, raising the intelligence of the entire industry through data-driven insights.”

Since its launch in 2015, Headset has become the leader in data analytics services used by companies within the cannabis industry such as brands, dispensaries, and retailers, as well as organizations in the financial services and consumer packaged goods, to capitalize on market trends and understand consumer purchase behavior. The company uses point-of-sale data as a resource versus survey techniques used by other analytical firms. The real-time data is valued by industry insiders. For example, the company just released a new market report for the month of August that takes a look at the current state of Canada’s Cannabis 2.0 products like edibles and indigestibles.

Headset’s own data shows average sales of cannabis products in adult-use markets are up 25% this year, despite retail lags in other sectors due to the pandemic.

“We’re grateful to our investors for their continued confidence in our vision,” said Cy Scott, Founder and CEO of Headset. “Our real-time market intelligence data helps cannabis operators, CPG companies, financial services and more navigate the competitive landscape, find opportunity and understand the cannabis consumer through our aggregated point-of-sale derived data which includes sales, inventory, pricing, demographics and basket analytics.”

 


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