The CBD market has been a tale of two cities during the coronavirus pandemic. While retail sales have plummeted due to store closures amid the shutdowns, online sales have skyrocketed as Americans seek help for stress, anxiety and depression. In this interview with ASI staffer John Corrigan, Margie Floris, founder of CBD product distributor Aqueous Wellness, discusses how the market is ripe for promo distributors.

Podcast Chapters
0:35: How Margie entered the CBD industry
3:58: Rapid growth since 2016
5:07: Evolving legal status
8:10: Advertising challenges
9:32: The pandemic’s impact on the market
12:00: Online vs. brick and mortar
14:01: Advice for targeting the CBD market
15:22: CBD products for first timers

CBD is the chemical compound derived from the cannabis plant that won’t get you high (unlike THC). According to SingleCare, 33% of Americans have used CBD at least once. Prior to the coronavirus pandemic, the hemp-derived CBD (cannabidiol) market was projected to reach $8.1 billion in sales in 2020, nearly double 2019 sales of $4.2 billion, according to market research firm Brightfield Group.

“Today’s environment is high pressure and high stress, so if you can get something that’s going to make you feel good, why not?” — Margie Floris, Aqueous Wellness

However, due to the COVID-19 crisis, those projections have changed to just $4.7 billion in sales in 2020, still up roughly 14% from last year.

Adapting to the disrupted retail industry, 47% of consumers purchased CBD products online during Q2, Brightfield Group reported. Floris’ company has benefitted from the online surge, and in this Promo Insiders podcast, she recommends which products first-timers should use and how distributors can capitalize on the seemingly recession-proof industry.

Watch the interview on YouTube