Hemp-based CBD producer Charlotte’s Web Holdings, Inc. (TSX: CWEB; OTCQX: CWBHF) today announced a partnership with data measurement firm Nielsen (NYSE: NSLN).
Through the partnership, Nielsen has now created a CBD retail market measurement that is specifically focused on quantifying what brands and products have the strongest customer preferences while gathering data on how and when customers utilize CBD.
The findings of that new Nielsen market research will eventually be utilized by the consumer packaged goods industry at large in the United States as more companies enter the CBD market.
After CBD products experienced an extreme surge of growth following the 2018 Farm Bill, and in the wake of a vape-related lung disease outbreak that has gripped headlines for weeks, accurate and unbiased analytics have become critically important for the burgeoning industry.
Charlotte’s Web Chief Executive Officer Deanie Elsner commented on teaming up with Nielsen today:
Charlotte’s Web additionally launched a new line of gummy CBD products this summer, which are now lining shelves in hundreds of additional stores following a deal struck with The Vitamin Shoppe (NYSE: VSI) last month.
That latest instance of increased market penetration occurred after Charlotte’s Web had already struck an arrangement to put CBD skincare and beauty products in hundreds of stores across the U.S. under the Kroger brand, including Smith’s grocery locations.
Charlotte’s Web is currently one of a very few companies in the hemp and cannabis space still commanding a stock price above the $10 mark, with CWBHF trading at $13.72 this morning following the Nielsen news.
Despite that pricing, the company’s stock has still seen a major decline since April. Like several other companies in the market, Charlotte’s Web saw a change in the role of Chief Financial Officer after the stock price began to plummet earlier this year.