SEATTLE, Sept 9, 2020 /PRNewswire/ -- Headset, the leading provider of data and analytics to the cannabis industry, announced today it is launching the free version of their competitive intelligence tool, Headset Insights Pulse, in Michigan. The news comes on the heels of Headset's announcement this past August regarding Headset Insight's launch in Oregon, and will be Headset Insight's first launch in the eastern U.S. With an Insights Pulse account, users will be able to explore Michigan data down to the category level, as well as data from California, Colorado, Nevada, Oregon and Washington, and the Canadian provinces of Alberta and British Columbia - all for free.
Headset Insights will bring coverage to the emerging East Coast cannabis market for the first time. Companies in and out of the cannabis industry will have access to an extensive set of data, down to the category level, from the Michigan market that will help them better understand consumer trends and the overall state of the market. This influx of data will help cannabis companies to better identify differences between West Coast and East Coast markets, recognize potential opportunities and build more informed business strategies.
"We're thrilled to introduce Headset Insights Pulse to the eastern U.S. and we're eager to see what Michigan's data will uncover. This region is the next up-and-coming area for the cannabis industry, so the ability to watch it grow and to monitor how consumer trends change is extremely valuable to all players in the space," said Cy Scott, Founder and CEO of Headset. "There is so much market potential in Michigan given its massive growth in this year alone. We're glad we can provide our customers with in-depth analyses and more accurate projections for the market as it continues to expand."
Since the beginning of 2020, Michigan's adult use and medical cannabis sales have skyrocketed. In the first eight months of 2020, Michigan's adult use and medical markets brought in $281.2M and $313.7M, respectively, for a total of $595M in cannabis sales. In addition, adult use cannabis sales have grown 566% between January 2020 and August 2020 from $9.8M to $65.5M. The state stands out among other U.S. markets with the largest average basket sizes so far this year, at $84.59 per basket. Headset Insights will allow cannabis companies to track Michigan's market growth, measure brand performance and better prepare operations based on market changes.
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/.