Close Menu
  • For Buyers
    • Retail News
    • Products & Suppliers
    • Ecommerce
    • Marketing & Management
    • Trade Show News
  • For Suppliers
    • Supplier News
    • Marketing & Management
    • Importing
    • Manufacturers
    • Warehousing
    • Finance
    • Show Exhibiting
  • Wholesale 101
  • Trade Show Calendar
  • Wholesale Products
Facebook X (Twitter) Instagram
Friday, May 30
  • Subscribe
  • Submit Content
  • About Us
    • Contact Us
  • Advertise
    • Display Advertising
    • Email Marketing Campaigns
    • Newsletter Advertising
    • Sponsored Content
    • Lead Generation Services
  • Top Product Sources
Facebook X (Twitter) Instagram
WholesaleCentral.com Blog
  • For Buyers
    • Retail News
    • Products & Suppliers
    • Ecommerce
    • Marketing & Management
    • Trade Show News
  • For Suppliers
    • Supplier News
    • Marketing & Management
    • Importing
    • Manufacturers
    • Warehousing
    • Finance
    • Show Exhibiting
  • Wholesale 101
  • Trade Show Calendar
  • Wholesale Products
WholesaleCentral.com Blog
Home»For Buyers»Retail News»How CBD Companies Are Being Impacted by COVID-19
Retail News

How CBD Companies Are Being Impacted by COVID-19

Krystina MorganBy Krystina MorganJune 9, 2020Updated:January 19, 20233 Mins Read
Facebook Twitter Email
Share
Facebook Twitter Email

cbd oil in nice arrangementPrior to the coronavirus pandemic, millions of consumers around the world used CBD to help ease anxiety and pain. Now, with increased anxiety everywhere on the future of the virus and whether or not things will ever go back to normal, CBD usage has increased tenfold, which leaves producers basking in this glory.

David Lonsdale, CEO of CanaFarma Corp, says the CBD industry has been experiencing consistent and significant growth over the last few years. Brightfield Group released data that identified a 500 percent increase of CBD sales from 2018 to 2019, as well as that the market is on track to grow to $23.7 billion through 2023.

Can CBD Companies Keep Up with the Demand?

As shoppers continue to look for more ways to cope with this new way of life, CBD companies are seeing an increase in demand for online orders. “Because of the increase in both orders and order size, we have to make sure we are keeping a close eye on inventory and that shipping and fulfillment are prepared to work efficiently,” Lonsdale said. “Given the influx of orders, we are experiencing a slight shipping delay, but are working every day to keep that to a minimum timeframe as we understand how important our products are to our customers.”

What Consumers Are Looking For

In order to better cater to your customers and stand out from the competition, The Integer Group conducted a research survey in 2019 and found what CBD products consumers are looking for, why they want to purchase CBD products, and other helpful information to better connect with shoppers.

The survey found that 52 percent of CBD shoppers want to use it for pain relief, while 39 percent want to use the items for relaxation. Now for the more important stuff – what types of CBD products are consumers buying in order to fulfill their needs?

  • 48% of shoppers buy oils/tinctures
  • 45% of shoppers buy edibles
  • 42% of shoppers buy topicals, lotions, creams, and rubs
  • 33% of shoppers buy beauty and skincare
  • 32% of shoppers buy pills/capsules

How COVID-19 Will Impact the Future of CBD

According to Cannabis Offers, the novel coronavirus will likely slow down legalization efforts across the country. Numerous events, gatherings, and conferences have been cancelled so far, and since many of them were directed at promoting legalization, some states could be left waiting for a longer time.

“I think this pandemic will impact the CBD industry in a positive way,” Lonsdale said. “Many consumers, both existing and new users, are turning to CBD right now for various health and wellness reasons. I think the industry will continue to grow and consumers will explore various ways to incorporate CBD into their daily regimens. Increased consumer use will lead to much needed attention to be put towards medical research, clinical studies, and formal product guidelines from the FDA.”

CBD COVID-19 June 2020 Issue
Share. Facebook Twitter Email
Previous ArticleRetail and Shipping During Pandemic: Pressure Builds for Increased Synergy
Next Article Licensing Expo Plans Series of Events to Unite Global Licensing Community

Related Posts

5 Essential Tax Season Preparation Tips

January 24, 2024

7 Tips for Wholesale Inventory Management

January 23, 2024

Prepare Your Business for Supply Chain Disruptions

December 30, 2023
Sign Up for Buyer Updates
WholesaleCentral.com

Join the Buyer's Network

Get news & updates only for retailers.

how-to
Wholesale 101 for Buyers

Amazon Return Pallets For Sale: How to Profit

11 Mins ReadUpdated:August 9, 2024

A big trend among some online sellers is buying Amazon return pallets and overstock and…

Retail News

5 Essential Tax Season Preparation Tips

10 Mins ReadUpdated:August 8, 2024

Are you ready for tax season? April 18 is approaching quickly, and many day-to-day decisions…

Ecommerce

7 Steps to Create Successful Shipping for Your Business

6 Mins ReadUpdated:August 8, 2024

by Sidney Karanja Today’s business environment is more globalized and complex than ever before. In…

Product News

Overstock Liquidations

6 Mins ReadUpdated:August 9, 2024

Overstock inventory refers to the excess goods or merchandise that a retailer has on hand…

Latest Posts

Crafting a Marketing Strategy for Electronics Retailers

January 21, 2025

Effective Digital Marketing Strategies for Health & Wellness Brands

January 21, 2025

Mastering Beauty Ads: 10 Strategies for Engaging Your Audience | Blog.Wholesalecentrl.com 

January 21, 2025

Jewelry Marketing Strategies: How to Attract Customers and Boost Sales in a Competitive Market

December 31, 2024

How to Open a Gift Shop: A Step-By-Step Guide

December 23, 2024

Online Marketing Calendar for 2025: Don’t Miss These Critical Dates

December 17, 2024
  • About Us
  • Subscribe
  • Contact Us
  • Advertise
  • Find Wholesale Sources
WholesaleCentral.com

Join the Buyer's Network

Get news & updates only for retailers.

Follow Us:

Copyright © 2025. Sumner Communications, Inc..

Type above and press Enter to search. Press Esc to cancel.