SEATTLE, Sept. 8, 2022 /PRNewswire/ — PRESS RELEASE — Headset, a provider of data and analytics to the cannabis industry, today expanded access to its competitive intelligence tool, Headset Insights, to businesses in Massachusetts and Florida. This expansion will mark Headset’s fourteenth and fifteenth cannabis market reads based on aggregated Point of Sale data at the receipt level for the U.S. and Canadian markets. Headset Insights is also available in Arizona, Alberta, California, Colorado, Maryland, Michigan, Illinois, Nevada, Oregon, Washington, British Columbia, Ontario, and Saskatchewan.
Headset Insights will equip businesses in Massachusetts and Florida with informative real-time market data and valuable consumer trend insights. Cannabis businesses in these markets will be able to identify growth opportunities and develop data-driven strategies that will allow them to stay ahead of the curve. More specifically, the platform will offer category-level data to better understand Florida’s medical market, while the deeper Massachusetts read now allows cannabis businesses to leverage more granular data down to the SKU-level.
“We’re excited to introduce Headset Insights to the southeast and expand the platform further into the northeast,” said Cy Scott, founder and CEO of Headset. “Massachusetts and Florida each have unique cannabis industries that continue to evolve daily. Headset Insights will serve as a unique guide for businesses looking to navigate medical and recreational marketplaces.”
Florida is one of the five most notable cannabis markets in the U.S. Bringing in $1.04B in medical cannabis sales from January through July 2022. The Sunshine State sits behind Illinois as the fifth largest cannabis market in the U.S. with a 21+ population that is expected to exceed 16 million. Florida has the ability to generate more than $3 billion in cannabis sales by 2025. Headset also indicates that there is a 50% chance that Florida could legalize recreational cannabis use by 2025. The introduction of recreational cannabis use could make Florida home to the second largest cannabis market in the U.S. The category level read now available in Headset Insights will greatly assist growing cannabis companies in seizing opportunities in Florida as the marketplace continues to evolve.
Massachusetts is among more than a dozen U.S. states that have welcomed recreational and medical cannabis businesses. The Bay State recorded positive year-over-year growth in July 2022, unlike many other U.S. markets currently experiencing year-over-year sales retractions. Furthermore, the state has produced nearly $1 billion in cannabis sales this year, surpassing more mature markets such as Washington and Oregon. By year’s end, Massachusetts could also record higher sales than Colorado. Headset Insights will help companies track Massachusetts’ cannabis market growth, product category sales and shares, basket size and make more accurate projections for the growing cannabis market.
To learn more about Headset Insights, please click here.