Headset Cannabis Data Platform Expands To Michigan, The Largest Market In Midwest

Headset, the leading provider of data and analytics to the cannabis industry, announced Thursday the launch of its competitive intelligence tool Headset Insights Premium in Michigan.

The Great Lakes State's cannabis sales were the third-highest in the nation for 2021 and totaled $149 million in June alone.

The move marks Headset's eleventh retail-derived cannabis market read based on aggregated point of sale data at the receipt level for the U.S. and Canadian markets.

The move will provide the Michigan cannabis industry with valuable consumer trend insights and real-time market data. The platform helps companies monitor and understand changes within the market, identify potential opportunities and develop data-driven strategies.

Michigan's Cannabis Landscape 

Michigan, the tenth largest state by population (over 10 million) became the first Midwestern state to allow both medical and adult-use marijuana use in 2018.

Though still viewed as an up-and-coming market, Michigan's cannabis sales reached $3.2 billion in 2020 and have so far surpassed Oregon and Washington State in sales already this year. 

Headset Insights will help companies track Michigan's cannabis market growth, product category sales as well as basket size in order to make more accurate projections.

The company's founder and CEO Cy Scott seems convinced that Michigan was the right state to set up shop.

"Now that we have every legal recreational market in the Western U.S. covered, we are thrilled to bring Headset Insights Premium into the Midwest," Scott said. "Data from both the Eastern and Midwestern U.S. markets will further complete our profile of the U.S. market as a whole and give new and existing Michigan businesses the information they need to succeed."

What exactly do Headset programs do?

The data-driven tech company collects and analyzes consumer transaction information, using models and dashboards that help cannabis retailers better optimize their day-to-day operations.

In addition, product manufacturers, processors and distributors can leverage their aggregated, standardized and anonymized receipt-level sales data in real-time to identify trends and opportunities, keeping them competitive and in touch with their customers.

In addition to Michigan, Headset Insights Premium is also available in California, Colorado, Nevada, Oregon, Washington, Ontario, British Columbia, Alberta, Saskatchewan, and most recently Pennsylvania.

Photo: Luke Chesser on Unsplash.