Chances are, you have already begun hearing whispers – or for some of you, loud exclamations – about the growth of CBD on the marketplace. Now that industrial hemp has been legalized with special thanks to the 2018 Farm Bill, CBD is seeing sustained success, proving itself to be more than a trend. Large retailers, corner stores and beauty shops are becoming part of the growing collection of businesses that now carry CBD-infused products. Here are some ways that CBD can boost your business:
The beauty of CBD, as far as we can tell at the moment, is that its success and popularity seem to be sustainable. This is great news for everyone looking to add CBD products to their store’s inventory, as there’s no need to worry about the sudden loss of interest that can often occur when stocking up on trendier products. Your CBD gummies are more than likely going to see longer-lasting popularity than those avocado slicers with American flag decals that you just ordered in bulk. When you fill your business’s inventory with CBD products, you’re picking up some of the most reliable products on the market currently, and so long as you can attract those that have interest in CBD, you’ll be good to go for the foreseeable future.
CBD is an easily infusible natural compound that can basically take any product and turn it up a notch. There’s even CBD infused toothpicks on the market, so feel free to get as creative as you’d like. Chances are, the products that you already offer are capable of being infused with CBD, supplementing the rest of your inventory with an extra bonus. With the buyers increasingly focused on the newly-legal crop, this can be a huge win on your part. The added promise of CBD can help deliver numbers in sales you’ve been waiting to see.
The hemp industry is projected to grow exponentially within the next five years, so it’s best to get a jump on it now. Buying CBD online is a huge industry and consumers are going to begin growing more aware of what kinds of CBD products they spend their hard-earned money on. Consumers won’t have to hesitate or be fearful that they will have to use it all the time before it expires. The shelf life of CBD is fairly long-lasting. This extra draw keeps the buyers happy, but from a business standpoint, this may not seem like a great aspect. Don’t worry – with the different types of CBD products on the market, consumers are tending to buy more CBD products than they actually need to incorporate their CBD differently in their lives. Their train of thought is, “why not buy multiple products?” And the numbers show. From beauty and skin products such as CBD bath bombs, face wash, and lotion, to edible products like gummies and tinctures, it’s possible to use all of these products over several days rather than only a couple.
Okay – we’ve most likely got the wheels in your mind moving now as to how you could potentially fit CBD in with the product or idea you’re selling. Now let’s take a moment for a quick overview lesson of what CBD even is. CBD is a compound found within the hemp plant. Hemp is different from marijuana because hemp has none of the psychoactive effects that weed does. CBD is seeing increased research due to its young age in the legal sphere, but as of now, it is known to have anti-inflammatory aspects, help reduce depression and anxiety, treat epilepsy, and relieve pain. Did you know there are three types? Yep – that means three chances to brand your products. There is a CBD isolate, broad-spectrum and full-spectrum. All three have the same CBD effects but the level of THC (what gets you high in marijuana) is more present in full-spectrum and a little in broad-spectrum, while there’s none in the isolate. As a disclaimer, there’s usually 0.3% THC in a full-spectrum product, so getting ‘high’ off CBD is not going to happen – but the branding doesn’t have to show that. These can be marketed better towards those who need to pass drug tests and those who want a little more fun. The multiple variations are endless and CBD can help take your business plan to the next level.
Since the FDA still hasn’t fully ruled with regard to CBD, the CBD industry is in a “Wild West” state at the moment. While this might be intimidating, it can also be used to your advantage. Getting in early and building a brand that gains a following as a trusted CBD source can help skyrocket your brand and increase its longevity. Control of the CBD industry is still up for grabs to a certain extent, so the sooner you get in, the more likely you are to garner a following and establish yourself as a trustworthy CBD source, helping your business exponentially.
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