Deloitte, one of the “Big Four” accounting firms in the world – the other three being Ernst & Young (EY), KPMG and PricewaterhouseCoopers (PwC) – is all set to foray into the Canadian Cannabis market in collaboration with Nielsen and Headset.
Jennifer Lee, the leader of the Canadian cannabis wing of the company, is quite excited about the project. “We are bringing together the top organizations in the consumer and cannabis space because we know that insight-driven organizations are much more successful,” said Lee via an official statement.
Deloitte, with the help of Nielsen and Headset, aims at providing comprehensive insights into the legal Canadian cannabis market. Once the data is available, both the government and FMCG companies can make use of it.
Nielsen has been tasked with monitoring the evolution of marijuana in Canada and producing real-time market intelligence on the industry. The corporation is one of the largest in the world to have an active, real stake in the marijuana industry, which is all set to hit an enormous $17 billion mark this year. In fact, Nielsen is co-developing a full suite of capabilities aimed at cannabis consumer packaged goods (CPG) companies, both in Canada and the United States.
Meanwhile, Seattle-based Headset, which is often regarded as the “Nielsen of cannabis”, will carry out with what it is good at doing- providing marijuana industry-focused data and analytics.
In the US though, owing to the conflicting nature of cannabis legalization laws under the federal and state governments, collecting legit stats and figures has been an uphill task even for private firms.
However, with the announcement of this collaboration in Canada, one can be pretty sure that whatever ‘deep’ insights are going to be available in the upcoming months, can at least be relied upon, which may prompt even the United States government to collect more data concerning medical marijuana.
Notably, Deloitte, headquartered in New York, generated more than $40 billion in revenue, last year.