CBD is physical stores’ golden opportunity

CBD sales through UK retailers currently stand at around £50 million, primarily online. According to one supplier, that’s likely to grow by a factor of 20 to reach £1bn by 2020, and traditional independent retailers stand to reap the rewards as consumers realise the need to help them make informed choices.

Henri Sant-Cassia of CBD Virtue says: “The online retail space is becoming saturated and constrained as some companies have chosen to suspend trading in CBD. This is pushing customers towards traditional retail.

“There is also an increasing variety and quality of products, which mean consumers need help, so independent stores are becoming the front line in this ballooning trade.

“Thirdly, the demographics of buyers are changing. Initially it was either younger buyers who took their inspiration from Colorado and California, followed by vapers and e-cigarette users who are currently the majority of buyers.

“Today, a much broader range of consumers are buying CBD as it crosses over into the mainstream. Older consumers, and those with medical conditions, prefer the human touch to buying online. Our market research shows most prefer a local, trusted retailer rather than a faceless online store or an anonymous major chain to purchase CBD.

“This is a huge new opportunity for independent stores. Margins are strong, most customers are repeat buyers, and word of mouth locally can be very powerful. The key is finding wholesalers with proven products, proper retail support and ongoing brand marketing to drive buyers into the store and keep them coming back.”

The dangers facing this booming market are not uncommon in the health and wellbeing sector: cheap, watered-down Chinese CBD with labels claiming high strength, and untested products with no CBD in them at all.

For most people, a daily dose of 10mg to 25mg is ideal, and the best way to take CBD is through an edible product like gummies, honey sticks or a tincture.

Access CBD Virtue’s retailer page here.

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