Nielsen, Headset, Deloitte Form Strategic Alliance To Provide Cannabis Data

Participants in the Canadian cannabis industry will be able to get critical market insights and important data from a new source.

Nielsen Holdings PLC (NYSE: NLSN), which recently entered the cannabis space, Deloitte and Headset announced a strategic alliance that will provide key stakeholders in the cannabis space with critical market insights to help them understand cannabis consumption and sales in Canada.

What Happened

The alliance members will provide real-time market intelligence, allowing their clients to monitor the competitive landscape, identify opportunities and stay ahead of industry trends. The data provided by the companies includes pricing, category, segment, shopper insights and brand trends.

The announcement comes less than a week after Nielsen said it would enter the cannabis space and partner with Headset, a leading data and analytics service provider in the legal cannabis industry to deliver data for the U.S. legal cannabis market for Consumer Packaged Goods companies.

Why It's Important

The alliance includes leading companies in their respective space. Deloitte is one of the top accounting firms while Nielsen was named the No. 1 market research firm by the American Marketing Association last year.

The legalization of cannabis in Canada created a major industry with many competitors, as well as opportunities for innovation and entrepreneurship. Getting access to high-quality and reliable data is particularly important for companies looking to understand the market.

Alex Oleinic, Benzinga

Sean Doyle