Headset, the leading provider of data and analytics to the cannabis industry, announced today the launch of their new Insights Premium add-on, Demographics Insights. This platform compiles demographic data from individual retail purchases that provides insight into consumer preferences and helps cannabis companies improve their marketing strategies. The add-on is currently available exclusively to Headset Insights Premium Subscribers.
The platform contains four demographic dashboards that help the user closely examine purchasing behavior by demographic and analyze sales by age group and gender. With this data, cannabis companies will be able to better understand who they are marketing to and which products perform best within each consumer segment. The add-on also provides key metrics previously unavailable to cannabis businesses, including Customer Penetration, Customer Wallet and Cross Category Purchasing, that will help companies guide advertising budgets, streamline product development and set realistic growth strategies. Access to this information is extremely beneficial to the young and growing industry since it lacks the decades worth of data available to legacy industries.
“The inability to thoroughly understand their customers and interpret their preferences prevents cannabis companies from efficiently marketing products to the proper consumer segments, thus hindering their success and growth. We’re thrilled to provide such valuable insights to our Insights Premium subscribers through our Demographics Add-on feature,” said Cy Scott, Founder and CEO of Headset. “We will be able to answer not only what products are being purchased, but also who is buying them. This allows Headset users to think deeper about these purchases and construct an image of the actual consumer behind them, evaluations that are critical to developing an effective marketing strategy.”
Headset Insights is Headset’s marketing intelligence tool that provides valuable market and consumer insights using data directly from the point of sale in retail stores to create statistical models that can be applied to the entire marketplace. For every consumer dollar spent on cannabis, 25 cents is tracked in Headset’s database, providing data from 25% of all cannabis transactions in the U.S. and Canada combined. Headset has tracked over $2B YTD in adult use and medical cannabis with an average 5% growth rate month-over-month. Headset Insights is currently available in California, Washington, Colorado, Nevada and Oregon, as well as in British Columbia and Alberta. This service allows businesses in and out of the cannabis industry to better understand the competitive landscape, track how the industry is evolving and identify potential opportunities.
To learn more about Headset Insights, please click here.
Headset is a data analytics company in the cannabis industry with a mission to help businesses make better-informed decisions through data. Headset focuses on collecting and analyzing consumer transaction information. Headset’s models and dashboards help cannabis retailers better optimize their day-to-day operations. In addition, product manufacturers, processors and distributors leverage the aggregated, standardized and anonymized receipt-level sales data in real-time to identify trends and opportunities, stay competitive and collaborate with retail customers. Learn more at https://www.headset.io/.