The global data measurement and analysis company, Nielsen, has formed an alliance with the cannabis analysis company Headset
Marketing provider Nielsen Holdings Plc, a provider of consumer research services, said on Wednesday it had partnered with Headset, a Seattle-based cannabis analytics company, to help companies understand the US cannabis market.
The strategic alliance builds on the recent acquisition by Nielsen de Cannabiz Consumer Group, a company that focuses on studying the impact of legalization on consumer spending and buying trends.
Nielsen and Headset plan to release a report on the U.S. cannabis market from its inception until 2018.
According to a press release, the two companies join forces as New York-headquartered Nielsen develops "a full suite" of cannabis measurement capabilities to help educate companies in the industry.
Nielsen's consumer research capabilities will be interwoven with Headset point-of-sale data for cannabis products, collected in “key” states and recreational legal markets.
Headset and Nielsen plan to provide insight into market trends, segments, brands and products in the legal economy, as well as study consumer attitudes, product preferences.
The alliance's first product will be an industry report that analyzes market dynamics and provides insight into cannabis purchasing behavior in the United States.
The two companies also plan to offer similar analyzes in the Canadian market.
Nielsen Holdings is listed on the New York Stock Exchange under the symbol NLSN.
The companies will also develop capabilities for the Canadian market, which last year became the first industrialized country to legalize recreational cannabis.
The cannabis industry has attracted hundreds of traditional businesses looking to take advantage of a growing market, which is why this market needs concrete analysis.
Source: Reuters
