Headset, the leading provider of data and analytics to the cannabis industry, announced the launch of its competitive intelligence tool, Headset Insights, in Saskatchewan on Oct. 27.
In addition to Alberta, British Columbia and Ontario, this will be Headset's fourth Canadian retail-derived cannabis market read based on aggregated Point of Sale data at the receipt level.
The expansion of Headset Insights into Saskatchewan will provide for a more robust and comprehensive reading of the rapidly-growing Canadian cannabis market.
Cannabis operators will have access to valuable real-time market data and insights into consumer shopping habits within the province. The platform will enable decision-makers to better identify market opportunities, measure brand performance and understand how the legal cannabis industry in Canada is taking shape.
"With the launch of Saskatchewan's full market read, Headset Insights will provide coverage for more than 60 per cent of the total Canadian cannabis market. We've already unveiled an abundance of valuable insights into this market and can't wait to see what this province has to show us," said Cy Scott, founder and CEO of Headset.
"Saskatchewan's fully private cannabis market - a first for Headset - has a larger selection of unique products than the other hybrid provincial markets, providing us with a more robust data set. This market will show us trends that are simply impossible in other Canadian provinces," Scott added.
Although cannabis retailers in Saskatchewan see lower monthly sales than Alberta and B.C., the market has experienced fairly consistent positive growth in total cannabis sales.
Between August 2019 and August 2020, total Saskatchewan cannabis sales increased 47 per cent to $12.9 million CDN.
Cannabis 2.0 products – beverages, concentrates, edibles, topicals and vape pens – rose in popularity this year, growing quickly from 17 per cent of total cannabis sales in January to over 22 per cent in April and holding steady ever since.
With Headset Insights, companies in and out of the cannabis industry will be able to follow Saskatchewan's cannabis market growth, product category sales, basket size and more for a comprehensive understanding of this market.
