headset Archives - Green Market Report

StaffStaffDecember 4, 2020
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7min3960

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%

StaffStaffNovember 25, 2020
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6min2590
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 AitchesonJulie AitchesonNovember 18, 2020
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8min6060

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.


StaffStaffSeptember 21, 2020
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3min6830

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


StaffStaffAugust 31, 2020
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3min2940

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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11min22810

So many things have been turned upside down with this pandemic, and saying we live in interesting times would be an understatement. Industries and businesses are being demolished and altered in ways unheard of just a month ago, and a rare few are actually booming. 

For the cannabis industry, one of the biggest changes leading to a boom is that as a whole cannabis is now being considered an “essential” part of life nationwide. The level of legitimacy this brings to the industry would have normally taken another decade. 

Delivery services and curb side pick-up have been implemented across the country also erasing years of necessary effort overnight. But overall, the complete change in cannabis consumer behavior has been one of the most interesting developments to witness for many of us.

As reported by Vice, politics and current events are major sources of anxiety for many in the United States and this leads to an increase of unhealthy behaviors like drinking alcohol, smoking, or eating poorly to cope with what is termed as “headlines distress disorder”.

In times of great stress, the sale of alcoholic beverages has proven to surge without fail. With legal cannabis now implemented around the country, the same is now proving to be true. According to Headset, during this current Coronavirus crisis, US adult use cannabis markets show average daily sales at large increase by 10%.

Sue Bachorski, formerly with Constellation Brands for 30 years and currently with the House of Saka, explained that “historically, alcohol sales frequently rise during times of economic downturn, regional disasters, etc. There is no reason to believe that cannabis sales would be any different and there will likely be a prolonged upswing for the foreseeable future.”

The Numbers Say It All

As of April 2, 2020, Headset released data that shows how the landscape of preferred cannabis products and consumption methods has proven to alter completely.  In the analysis, Headset compares the average daily sales of each product category before the COVID-19 sales bump began (January 1st through March 6th) to the COVID-19 crisis time period (March 7th through March 31st).

Cannabis infused beverage sales have increased by 14% while edibles accounted for a 28% increase. With infused beverages previously only accounting for 1% of the market, this is a big jump for the category. The reasoning for this change in consumer sales makes sense considering the virus attacks your respiratory system, so people would rather eat or drink their cannabis instead of smoking or vaping it. Pre-rolls and topicals have actually fallen by 13%.

I reached out to some key players in these categories to find out why they feel these increases have occurred. Warren Bobrow, co-founder of cannabis infused beverage brand Klaus Apothicaire and a Vices writer for Forbes, told Green Market Report that he felt that “while being quarantined in our homes, it makes perfect sense to further expand our inner space with high quality cannabis beverages and edibles. Smokable products could prove tricky with this particular virus.”

Ben Larson, CEO of Vertosa, said that “in these uncertain and challenging times, it’s an encouraging silver lining to see cannabis consumers increasingly seeking out infused beverages. There are likely several factors affecting the recent rise in sales, but an important takeaway is that infused beverages are typically designed for individual consumption and can be consumed discreetly, which is ideal during social distancing. They are also an approachable, familiar way to consume cannabis for less experienced users and those looking to avoid smoking during this time.”

The Women Stepped Up Their Spending

Beyond the types of products surging, the Headset data showed that even gender sales show a change in behavior during this crisis. While both genders saw significant increases in cannabis spending, females had more than double the sales growth of males. As Headset previously reported, males make up roughly two thirds of cannabis spending on any given day. Therefore, it could be speculated that females were less likely to have cannabis products on hand and more likely to feel a sense of urgency to stock up.

Tracey Mason, CEO of House of Saka, explains that she believes females could be a major driver in these increased category surges because “there is a triangulation of needs that beverages and edibles meet specifically for the female consumer: They offer precise dosing which provides a safe and controlled means by which to experiment, they offer a subtle means of consumption which removes the stigma associated with smoking and vaping and they are multi-use which drives sociability and expands usage occasions. Safe, Subtle and Social, those are the benefits of infused beverages in a nutshell.”

It remains to be seen as to whether these changes will become market altering over the long term, or if it was truly just a panic surge with no real impact. But as far as the change in gender sales, if this pattern continues, brands will need to evolve their marketing campaigns to appeal more to women.  

“Women are often seeking a healthier alternative to alcohol, but want an elevated social experience. To do this with cannabis is ideal. In addition, women want a product that has relatable packaging, tastes amazing, and feels safe. This tends to be achieved with an edible or an infused beverage, so I am not surprised that when their sales surged during the panic buys, they gravitated toward these products. The cannabis consumable sector has come a long way. The existing products have nailed the experience for the female consumer, so this demographic will continue to grow in the coming years,” says founder & president of Viv & Oak, Alana Burstein.
Will It Last?
If the patterns remain the same for edibles and beverages for the duration of the pandemic’s hold on our behavior, which could affect our lives for up to 18 months, it is safe to say that habits may have altered indefinitely with far reaching consequences for the foreseeable future. 

Understandably, edible and beverage brands are predicting continued growth. “We’ve seen exponential growth in our edibles sales at Garden Society and expect that as these shelter in place orders remain in place, we will continue to see growth. We believe this will have an impact on the overall market and consumer trends over the next year,” said Karli Warner, co-founder of The Garden Society

Geoff Doran, founder and CEO of Van Doran Brands, stated that “right now we are watching this trend very closely as edible and infused beverage companies. We aren’t too surprised that there is a current spike with these categories. We think the current spike has a lot to do with the “newbies” that are bored at home and giving cannabis a shot because of easy access they have through delivery, and quite frankly because they have nothing else to do with their days. A lot of the new cannabis buyers tend to gravitate toward a method of consumption that is familiar to them, which is obviously through eating and drinking. We’re excited about this spike because we know people will realize that edibles and cannabis beverages are a great cannabis experience!”


Debra BorchardtDebra BorchardtMarch 11, 2020
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4min9680

In the bad old days before legalization, cannabis consumers would buy from dealers and there was no price bargaining. The dealer gave you the price and the amount and you took it, no questions asked. At the beginning of legalization, consumers were just so jazzed to be able to buy weed in a store that they didn’t care how much they paid for it. Fast forward to a maturing retail sector and discounts are the name of the game.

Bargains Are Rising

A new report from the cannabis analytics firm Headset found that stiff competition for purchases in dispensaries has led to lower prices. “The raw dollar amount of discounts has climbed very steadily since the legalization wave began, indicating that they’re an integral part of the industry,” read the report. The study found that each year, purchase discounts are growing.

In 2014, the data showed that the average discount at a dispensary was 4.6%. In 2019, that doubled to 9.3% and in 2020 it is at 9.7% and on track to reach 10% by year’s end. Headset believes that at some point a ceiling will be reached, but as more states legalize cannabis, more discounts are sure to follow driving down prices and driving up discounts.

Holiday Promotions

The holidays are the biggest times for discounts. April 20 had the largest jump in discounts at approximately 30% and sales jumped 24%. This was the biggest response to holiday promotions. Green Wednesday, Thanksgiving and Black Friday all experienced big promotions which averaged around 28%, but the sales only rose 1.9%. Thanksgiving week shoppers mostly got a 20% discount. Liz Connors, Director of Analytics from Headset said that sales volumes didn’t increase during the Thanksgiving holiday as a result of the higher discounts. She did note that dispensaries offered much higher discounts this year for Black Friday sales than they did last year.

Hey Big Spender

Bigger spenders get bigger breaks. The review of data showed that people who spent more tended to buy more discounted products. Shoppers spending $20 or less, tended to buy items that had less of a discount. On average these small spenders paid full price for almost 70% of their purchases. The big spenders coughing up over $120 on their shopping trip only paid full price for about 17-27% of their items.

Products with a higher average price tended to have smaller discounts. Edibles tend to have an average price of $16.56 and the lowest discount at 7.9%. “Edible consumers don’t seem motivated by discounts,” suggested Connors. “Otherwise the dispensaries would offer more discounts.” Similarly, concentrates, which have an average price of near $19 had the highest discount at 12.8%. Connors thinks that these shoppers tend to consume more cannabis than others and so promotions appeal to this value shopper.

Overall, average item prices for cannabis have stayed fairly level. Connors pointed out that price patterns have emerged. “New states start high and then drop as the state matures,” she said. “We’re seeing it happen faster and faster as new markets open.” She also said that more value brands popping up in dispensaries. On the other hand, more premium brands coming to the market as well. So the overall effect has been that prices on average have stayed fairly even.


Debra BorchardtDebra BorchardtOctober 22, 2019
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4min26930

A new report from the cannabis data company Headset has suggested that cannabis consumers are going to become more sensitive to the prices of products in dispensaries. Much has been made of the cannabis luxury brands, but it seems customers are gravitating towards cheaper products.

That’s because millennials make up half of the cannabis market and they don’t have a lot of disposable income. This age group, which is between 23-38 account for 51% of the market. Their top preferred categories are flower, vape pens and concentrate in that respective order. They spend less than $25 per trip to the dispensary, with only Gen Z (23 and younger) as a more frugal group.

It’s thought that college debt and being new to the workforce means they have less money to spend on cannabis. While more established, older consumers can spend more. Gen X shoppers between the age of 39-54 spend on average about $28 per trip, while Baby Boomers between the age of 55-73 spend $30. The older generation, called the silent generation, which is over 74, is spending $33 per trip.

It would seem that cannabis companies would want to market towards the big spenders, but the Silent Generation is only .99% of the cannabis market. The boomers are 15%, while Gen X accounts for 25% of the shopper landscape.

The sweet spot looks like it is between $13 and $16. This is the average item price paid by cannabis consumers. The kids under 23 are at the bottom of list buying products priced at $13.63 (on average), while the older group over 74 spend the most as they are willing to shell out $16.97 per item (on average).

Women vs. Men

Headset believes there is an opportunity for marketing towards women. According to their 2019 data, older women in the Baby Boomer group make up 40% of the sales, while women under 23 account for 38% of the market. In 2017, a Statista survey only found that 7% of women smoked marijuana. Yet, it isn’t smoking that is drawing in female cannabis consumers, it is CBD and wellness products.

This explains why the top products for female shoppers are tinctures, topicals, and capsules, respectively. Flower and concentrates are the lowest-performing categories for women, making it the top form factors for men.

“The report said, “When it comes to trends in gender, it’s clear that wellness will be a big thing for anyone looking to bring more women into the market. While the cannabis industry has always overlapped with wellness, it is only recently being marketed specifically to that audience, and we suspect there’s room to grow there.” the report also noted that women spend 66% more of their cannabis wallet on CBD-containing cannabis products than men. “CBD products are absolutely considered part of the wellness side of cannabis, if not the central pillar of it. What’s more, the categories with the highest participation from women are those that tend to have more products containing CBD.”

 

 

 

 


William SumnerWilliam SumnerOctober 9, 2019
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3min13111

Charlotte’s Web Holdings, Inc. (TSX: CWEB) (OTCQX: CWBHF) announced today that it is partnering with the data and measurement firm Nielsen (NYSE: NSLN) to provide analytical coverage of the U.S. hemp-CBD retail market.

Recently, Nielsen has been dipping its toes into the hemp and cannabis space by entering into strategic partnerships with cannabis-focused data and analytics firms like Headset and by developing a suite of cannabis measurement capabilities

“We are thrilled to be entering a long-term partnership with Charlotte’s Web, a clear pioneer in the CBD industry,” said Susan Dunn, President, U.S. Sales at Nielsen. “Our mission is to work with the outstanding team at Charlotte’s Web to support and accelerate their growth by applying our breadth of data, insights, tools, and analytic assets.”

Charlotte’s Web has been aggressively moving to establish itself as a thought leader in the hemp industry. Recently the company became the first hemp brand to be granted a patent by the U.S. Patent and Trademark Office for a hemp plant.

The company hopes to leverage Nielsen’s data capabilities to gain insight into consumer attitudes, product preferences, use occasions, and to discern consumer’s future intent tied to consumer interaction points within CPG categories.

“This is a game changer for hemp CBD retail analytics,” said Deanie Elsner, CEO of Charlotte’s Web. “As the market leader in CBD, we have an obligation to advance objective data, purchase dynamics and insights that can be levered by our retailers in the Food, Drug and Mass channels. Nielsen is a trusted industry leader who was an obvious choice as our analytics partner. They provide unbeatable data and insights which will set the stage for one source of truth for the CBD Category.”

News of the partnership with Nielsen briefly gave the company’s stock a boost, rising from C$17.80 to C$18.44, but has since leveled off slightly and is currently trading at or around C$18.36 per share.


StaffStaffAugust 26, 2019
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6min8520

It’s time for your Daily Hit of cannabis financial news for August 26, 2019.

On The Site

Khiron Life Sciences

Latin American cannabis company Khiron Life Sciences Corp. (TSXV: KHRN)(OTCQB: KHRNF) stock slid on news of the company’s second-quarter earningsKhirondelivered a net loss for the three months ending June 30, 2019, of $10.6 million or $0.11 per share versus last year’s net loss of $6.2 million causing the company stock to drop by over 4% to lately trade at $1.15.

Khiron reported that its revenues of $2.2 million came from the sale of services at its clinics and sale of its cosmeceutical products, both of which began in the fourth quarter of 2018. The company said that revenues were in line with expectations and gross profits were consistent with the first quarter of 2019.

Golden Leaf

Golden Leaf Holdings Ltd. (CSE:GLH) (OTCQB:GLDFF) reported that its second-quarter total revenue was $4.3 million as compared to $3.7 million for the same three-month period in 2018 ending June 30.  The company said that the 17% quarter-over-quarter increase was due to strong wholesale revenue streams in Oregon and flower sales from our Canadian operations.

The company also delivered a net loss of $3.4 million or $0.01 per share, compared with a net gain of $3.2 million or US$0.01 per share for Q2 2018. The company noted that last year’s net income benefited from favorable changes in the fair value of warrants and debt liabilities of $7.3 million, versus this year’s unfavorable change of $0.1 million for the second quarter.

James E. Wagner

Ontario-based  James E. Wagner Cultivation Corporation (TSX VENTURE: JWCA)(OTCQX: JWCAF) reported third fiscal quarter revenue of $749,000, up 32% sequentially from $566,000, and compared to $3,500 in the same year-ago quarter. The net and comprehensive loss was $434,000 or $(0.01) per share in fiscal Q3 2019, improving 87% sequentially from $3.4 million or $(0.04) per share, and improving 91% from $4.6 million or $(0.06) per share in the year-ago quarter.

Party Bus Legislation Advances

A bill is moving forward that would outlaw smoking and vaping in commercial vehicles unless the driver has separate ventilation.

“Much like tours for wineries and breweries, cannabis party buses have sprouted all over California, and a bill designed to rein in the festivities could soon become law. Senate Bill 625, introduced by State Senator Jerry Hill in February, was approved by the California State Assembly’s Appropriations Committee on Wednesday.

The bill, if implemented, would bar passengers from smoking or vaping cannabis products in buses, limousines, and taxicabs, with an exception for limousines and buses whose passenger and driver compartments are completely sealed off and separately ventilated. The bill would also prohibit anyone under twenty-one from being on board in the presence of cannabis smoke.”

In Other News

TerrAscend Corp. (CSE: TER; OTCQX: TRSSF) announced it has received approval for Depository Trade Clearance (DTC) settlement services. DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be “DTC eligible”. This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for certain investor

Namaste Technologies Inc. (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) today announced that its board of directors has named Meni Morim as chief executive officer and appointed him to the Company’s board of directors. Meni has served as the Company’s interim CEO since February 4, 2019 and the Company’s Chief Product Officer since May of 2018.

Headset is launching its competitive intelligence tool, Headset Insights, in Canada. Recreational cannabis has been legal country-wide in Canada since October 2018, and the young and growing market is still developing. This will be Canada’s first retail-derived cannabis market read based on aggregated Point of Sale data at the receipt-level.

Headset Insights will first be available in Alberta, the province with the most robust private retail footprint. With Headset Insights, businesses in and out of the cannabis industry will be able to understand the competitive landscape, identify opportunities and measure brand performance. The platform will give brands, licensed producers, retailers and investors the information they need to be a competitive player in this marketplace.

Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF) today announced it has closed on a transaction to acquire New York-based Fiorello Pharmaceuticals, one of only 10 companies approved to operate a medical marijuana company in the state. Assets include a manufacturing and cultivation facility in Schenectady County and a retail store in each of the following locations: Manhattan, Rochester, Halfmoon and Nassau County, three of which are open.

 



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