The US CBD market was not immune to the economic impacts of the pandemic. CBD brand strategy was upended by store closures, changes in consumer needs, and drops in the price of CBD. The industry has been rebounding ever since its fall in Q2 2020, but the landscape looks much different than before.
The brands that focused on boosting their ecommerce have proven to be the most successful. Increased online sales made website visitors more important than ever, and the brands with the highest consumer loyalty also have the highest site traffic. Strategic online advertising brought shoppers onto brand websites. Targeted email campaigns kept potential customers interested and primed them to buy. Subscription models helped foster loyalty by providing convenient, money-saving incentives to remain a customer.
Ecommerce is the dominant channel, CBD discovery is stunted, and there is still no federally-supported regulatory structure for ingestible products. All the while, innovation in the category and increasingly close ties between CBD and cannabis beg the question—is CBD a standalone industry, a cannabis product, or an ingredient?
Show Notes: CBD: Industry or Ingredient? 2021 Mid-Year US CBD Report https://content.brightfieldgroup.com/2021-us-cbd-market-report
Host: Josh Kincaid, Capital Markets Analyst & host of your cannabis business podcast. https://www.linkedin.com/in/joshkincaid/
Episode 743 of The Talking Hedge: Your Cannabis Business Podcast. Covering cannabis products, reviews, business news, interviews, investments, events, and more. https://www.theTalkingHedgepodcast.com
Music Info: Song: Beat | Keep On | 2020 Artist: Milochromatic Beats & Song: Dark Trap Beats Hard Rap Instrumental | Gang | 2018 Artist: LuxrayBeats
Keywords: Hemp News, Weed News, Cannabis News, Marijuana News, Cannabis Business, Marijuana Business, Cannabis Industry News, Marijuana Industry News, Weed News 420, Talking Hedge Podcast, Cannabis Podcast, Marijuana Podcast, Business Podcast, CBD podcast, THC podcast, Cannabis Pitch Deck, Marijuana Pitch Deck, Marijuana Investment Deck, Cannabis Investment Deck, Cannabis Compliance, Cannabis Data, Cannabis Banking, Cannabis Investment, Pot Stocks, Cannabis Stocks, Weed Stocks, Marijuana Stocks, Cannabis Data, Marijuana Data, Cannabis Analytics, Marijuana Analytics, Cannabis Sales Data, Marijuana Sales Data
Josh is not an investment adviser. The Talking Hedge is long gold and silver. Listeners should always speak to their personal financial advisers.
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