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.