Deloitte, Nielsen, and Headset team up to deliver cannabis data and insights
Big Four accounting and consulting firm Deloitte has entered a strategic alliance with Nielsen and Headset to provide critical market insights to stakeholders in the Canadian cannabis sector. The data-driven offerings will help clients make better-informed decisions.
The legalization of cannabis in Canada gave rise to an array of eager consultants hoping to guide companies navigate the nascent market. As plans for legalization solidified into a tentative date, then final legality in October, the market for cannabis sector consulting continued to grow. Legalization has brought forth a rapidly consolidating security consulting market, as well as human resources consulting efforts - even blockchain solutions from enterprising firms.
Meanwhile, large consultancies like Deloitte are also advising the industry, with the Big Four giant maintaining strong cannabis sector expertise within its retail and consumer analytics practice, led by partner Jennifer Lee. The firm’s widely cited 2018 report on Canada’s legal cannabis sector pegs the market to reach $4.34 billion in 2019.
When an industry bursts forth from nothingness, firms are hungry for quality data. And in a world of scarce information, the firm with quality, accurate data is king.
Deloitte has partnered with cannabis data and analytics provider Headset, as well as global data firm Nielsen, to provide Canada’s cannabis sector with real-time market intelligence and insights. The offering will allow clients to stay ahead of the curve, exploring pricing, category, segment, shopper insights, and brand trends to identify and capitalize on opportunities.
"Our clients—from life science and retail, to financial institutions and government—are all looking for the same thing: information to drive action and growth," Lee said. "We want to see our clients succeed, which is why this alliance is so important. With this strategic alliance, we are bringing together the top organizations in the consumer and cannabis space, because we know that insight-driven organizations are more successful."
The data offering, which will source info from consumers and retail outlets, will help firms breach the unknown, ensuring the ability to execute fundamentals as effectively as data-rich traditional consumer packaged goods companies.
"As the cannabis industry heats up in Canada, it is critical that organizations leverage data to drive informed decisions in this fast-moving and rapidly developing space," Cy Scott, Headset CEO, said. "With this strategic alliance, we are able to provide clients with unprecedented access to insights that facilitate their success in this new market that is rich with opportunity."
