Despite the projections for growth and the confirmed increase in consumer interest, selling CBD products isn’t as easy as most brands want it to be. Creating a website, setting up an e-commerce channel, launching a few products, and investing in a little branding isn’t enough to secure regular and profitable CBD product sales. But, why?
One of the things that makes it difficult for any cannabis or CBD business to function is the lack of banking support. A solid merchant account is something that all businesses need, whatever the industry, but in the cannabis space finding one is a real challenge. Even though the 2018 Farm Bill made it legal to cultivate hemp on a federal level, and even though most states have legalized the cultivation and sales of cannabis and cannabis products to varying degrees, cannabis and CBD businesses are still having a hard time with banks and credit card companies. It makes the running of a legal, professional business difficult, if not impossible, which is why merchant account service providers, like InclusivePay, have come to the rescue.
As the sun rises on a new day, another CBD brand appears. It's selling the same white label CBD products as all the others, made from oils that are rich in CBD and low in THC. The only difference is that the product has been packaged in a slightly different container, and there's a new name and logo printed on top. The CBD market has quickly become the area of the cannabis industry that's suffering most from a lack of differentiation. So, what’s a CBD brand to do? Well, one recommendation would be to partner up with a CBD formulator.
The passing of the 2018 Farm Bill gave CBD exactly what it needed to soar. As a result, the CBD industry in 2019 has already experienced exponential growth. Data suggests the trend will continue in the years to come, with the CEO of ArcView Group, Tony Dayton, predicting that CBD product sales will climb to $20 billion by 2024. For CBD brands and businesses, both established and emerging, this can only mean one thing… heightened competition and less opportunity to control market share.
Since it’s conception, the platform has given helped start movements through countless hashtags. However, even with 326M monthly active users and 500M daily tweets, the channel is still an enigma to many.
2018 was the year of CBD (Cannabidiol) as you either heard about it, tried it in one form or another, or knew someone who had. But that was 2018 and now it’s 2019, and THCV (Tetrahydrocannabivarin) is quickly becoming the current cannabinoid to watch.
Cannabis web design is booming. 420 entrepreneurs are creative, fun, smart and know how to use branding to build awesome websites. Let's take a look at some great examples.
On December 20, 2018, the U.S. Federal Government authorized the removal of hemp from the Schedule I controlled substances list, converting it into an ordinary agricultural commodity overnight. As such, the country’s already seeing evidence of the range of hemp-derived CBD products that are set to take the industry by storm in 2019.
