As radio stations continue to grapple with the “should we, shouldn’t we” question surrounding the legality of advertising CBD products over the air, Nielsen has created a novel alliance with a leading cannabidiol (CBD) brand with the goal of “helping guide the U.S. retail market for consumer packaged goods companies through the evolution of the CBD space.”
The Wednesday announcement is certainly unique among pacts for Nielsen’s market intelligence outreach. The “analytic relationship” with Charlotte's Web Holdings—which Nielsen deems the world's leading CBD brand—for one, will provide insight into consumer attitudes, product preferences, use occasions and future intent tied to consumer interaction points within CPG categories.
“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,” Nielsen explains in its release. As an “industry pioneer and the market leader in hemp-CBD extract products,” Charlotte's Web will leverage its product knowledge and category vision to “provide unprecedented visibility into market-leading trends, highlighting segments, brands and products that are resonating with consumers in the CBD market.”
The result: Collectively, the suite of information will enable U.S. CPG manufacturers and retailers to more easily measure and predict the impact of hemp CBD on the CPG industry and strategize accordingly, Nielsen says.
"We are thrilled to be entering a long-term alliance with Charlotte's Web, a clear pioneer in the CBD industry," said Susan Dunn, President, U.S. Sales at Nielsen. "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."
Added Deanie Elsner, CEO of Charlotte's Web, "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 leveraged by our retailers in the Food, Drug and Mass channels. Nielsen provides unbeatable data and insights which will set the stage for one source of truth for the CBD category."
Charlotte's Web product categories include CBD Oil tinctures (liquid products), CBD capsules, CBD topicals and CBD pet products. Its hemp-derived CBD extracts are sold through select distributors, brick and mortar retailers, and online.
Meanwhile, Nielsen is working toward a full suite of cannabis measurement capabilities, including another strategic alliance with Headset, a data and analytics service provider measuring and analyzing the legal cannabis dispensary channel.