Charlotte’s Web Hemp (CNQ: CWEB) has signed a new partnership deal with analytics giant Nielsen. In a joint statement from the two companies yesterday, they stated that they will be working together to help the US retail market and consumer packaged goods (CPG) companies as the CBD (cannabidiol) market continues to grow. It will also help provide insight into market-leading trends, with emphasis on segments and products that are shaping the growth of the industry.
The statement adds, “Mirroring the changing tide happening across the U.S. retail and CPG industry, this new relationship marks an open and symbiotic relationship that is forming between the emerging CBD industry and the U.S. retail and manufacturing community.”
Deanie Elsner, CEO of Charlotte’s Web, said of the deal, “This is a game-changer for hemp CBD retail analytics. As the market leader in CBD, we have an obligation to advance objective data, purchase dynamics and insights that can be levered by our retailers in the Food, Drug and Mass channels. Nielsen is a trusted industry leader who was an obvious choice as our analytics partner. They provide unbeatable data and insights which will set the stage for one source of truth for the CBD Category.”
Nielsen has begun to get seriously involved in the cannabis market and has already launched a full suite of measurement tools for the industry. It has previously partnered with Headset, the analytics service provider that follows the legal cannabis dispensary space.
Nielsen’s President of US Sales, Susan Dunn, adds, “We are thrilled to be entering a long-term partnership with Charlotte’s Web, a clear pioneer in the CBD industry. Our mission is to work with the outstanding team at Charlotte’s Web to support and accelerate their growth by applying our breadth of data, insights, tools, and analytic assets.”