Cannabidiol (CBD) is known to provide relief to a variety of illnesses, ailments, and medical conditions. It has entered the mainstream market as a favorable alternative following the regulated use of hemp-derived products.
The global CBD industry is projected to bring a revenue of $20 billion this year, with an annual compound growth of 30.7% in the next five years, making this industry a great business venture. While this market is very promising, selling CBD remains to be a fresh concept.
CBD is a chemical derived from marijuana or hemp plant. Compared to THC (tetrahydrocannabinol), CBD doesn’t produce a ‘high effect’ commonly associated with the use of marijuana. Cannabidiol oil spectrum (isolate, broad, and full) has gained favorable use as a sole or added ingredient in a variety of:
- Beauty products to reduce swelling and aches and for relaxation. These products may come in the form of lotions, creams, gels, serums, toners, bath bombs, soaps, beard oil, shampoo/conditioner, and lip balm.
- In edible forms such as capsules, gummies, chocolates, suckers, cookies, brownies, and many more
- Infused drinks as powdered drink mixes, bottled CBD water, and energy shots
- Soft gels or two-capsule form containing either isolate CBD or CBD infused oils, water-soluble CBD, pain relief patches, and suppositories.
- Disposable vape pens, cartridges, and vape oil/e-liquid
- Tinctures, capsules, cookies/treats, and sprays
These CBD products have immense sales potential. Knowing which product you want to sell is the first step as this will allow you to gain expertise regarding the function, use, and dosage of your desired product. Identifying your CBD specialty can also boost your confidence as you begin to sell this pain relief alternative.
A study regarding the use of CBD products has informed marketers about how specific age groups use CBD and the type of CBD products they use. Consumers, based on their usage, were divided into those seeking immediate relief from their illness while others desired longer relief from their medical conditions.
By age group, it showed that those ages 18-35 seek CBD products to decrease anxiety, while those in the 40 and above sought products associated with relief from chronic pain.
Basing on the outcomes of this study, it’s important to identify which among these age groups and relief-seeking consumers you want to sell your products to. Specializing within a specific group or specific purpose allows you to create a consumer profile and create a marketing strategy that is patterned after their needs and interests.
Establishing an Online Presence
While the majority of CBD consumers still rely on traditional brick-and-mortar establishments, the ease of online shopping has created a whole new opportunity for business owners. A website not only serves as a sales tool for consumers but must also spread information regarding the benefits of cannabidiol and its use. This can be achieved by a crafted CBD website design that not only features the products you sell but also creates a positive customer experience through its content, layout, and interface.
Creating content-based on SEO and strategically placing them onto headers and titles can direct the customers to what they need. In addition to that, generating content through informative blogs can help direct traffic to your site and guarantee revenue.
Apart from knowing your target market and establishing a platform to sell CBD products, it’s also vital to know the applicable federal and state regulations governing these products. The US Food and Drugs Administration (FDA) maintains that only hemp-derived products can be sold. The FDA also has strict regulations for such products depending on whether it’s used for cosmetic, food, or dietary supplement.
On the state level, many have exempted marijuana from their list of controlled substances and adopted the FDA’s position on the sale of hemp-derived products, but some states prohibit the use and sale of marijuana and its derivatives altogether. Knowing the legalities of selling CBD is vital to your business and must be reflected in your chosen website design.
The CBD industry can be a lucrative venture as consumers now turn to such alternative sources to alleviate pain and distress from chronic ailments and other medical conditions.
Cannabidiol products continue to escalate in demand. When embarking on such a venture, one needs to become well-versed with its forms and benefits, as well as the regulations governing such hemp-derived products. Identifying a target market allows one to build a CBD website that can cater to specific consumer needs and preferences. At the same time, incorporate legalities to ensure that CBD products are not only user-friendly but government-compliant as well, too.