How Tapping into the CBD Market can Generate Revenue for your Business

by | Jan 17, 2020 | Business | 0 comments

As of late there has been a good deal of public and media attention on the commercial potential of cannabidiol (CBD). CBD is the non psychoactive cousin of THC, A.K.A. the chemical responsible for marijuanas psychoactive effects. Since the passing of the 2018 Farm Bill, which made it federally legal to cultivate, possess, sell and distribute hemp derived CBD, CBD has exploded onto the market growing at an astonishing rate.

CBD Retial Sales Estimates
Retail sales in the United States alone are expected to have surpassed $1 billion in 2019 (which is a 133% increase from 2018 sales). Furthermore, according to projections from the 2019 Hemp & CBD Industry Factbook, US retail sales could top $10 billion by 2024.
According to Google Trends CBD has seen a significant increase in search requests within the past 5 years. When compared to the search requests for cannabis it is evident that CBD has carved out a segment in the market for itself. All of this information indicates that CBD has immense potential in the coming years.
CBD Google Search Results
Looking to take advantage of this trend large companies like Coca-Cola have publicly stated interest in CBD and fast food chains like Carls Jr. are even jumping into the CBD market.

So how does a smaller retailer take full advantage of the growing trend that CBD has proven to be? First it is important to do research on CBD in order to find out what types of products are out on the market. With capsules, gummies, vapes, topicals, bath bombs, etc. there are products on the market for every type of consumer.

Once a retailer has an idea of what products are available they can then decide what type of product will do best in their specific environment. Manufacturers are starting to offer small grab and go, single dose products, which are ideal for smaller retailers and convenience store operators. These products are excellent for people who would like to try CBD but do not want to commit to buying a whole bottle of something (which can often be cost prohibitive).

Blue Bear offers a display box designed for the point-of-sale that includes single dose options that allow the consumer to manage their intake and portions. Point-of-sale products sitting at the cash register are a great way for both the store and customer to try out CBD. At less than half the price of our competition we believe that it’s a no brainer!

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