TOP TIPS FOR CREATING A LUXURY CBD BRAND
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Table of Contents
Top Tips For Creating a Luxury CBD Brand
Table of Contents
Summary
Introduction
Identify Your CBD Niche and Products
Understand the Laws and Regulations Surrounding CBD
Create a Thorough CBD Business Plan
Find A Top Quality CBD Supplier
How To Market Your Brand As Luxury CBD
Final Thoughts
Frequently Asked Questions (FAQs)
References
Identify Your CBD Niche and Products
When assessing the overall market prospects, it is wise to get an understanding of the general niches. The most popular ones currently include:
- CBD infused foods and beverages
- CBD based cosmetics
- Supplements and wellness products
- CBD pet products
The next stage will be examining the product types as closely as possible. Most of them will differ and will be based on the CBD consumption method. Here are the main forms of taking CBD:
- Drops and sprays – CBD oil is the central ingredient in both these forms. This is a decarboxylated from hemp or hemp flower, which is then mixed with a carrier oil such as MCT oil, hemp seed oil and avocado oil. Drops and sprays often include added flavourings agents and other compounds to improve the taste and smell. However, this can also help add a sense of opulence to the product to appeal to those seeking a higher price tag.
- Pills and capsules – Not everyone is a fan of the distinct taste CBD oils tend to have, so wrapping a dose of CBD in flavoured gelatin or a luxurious soft capsule can make it more digestible. This form of CBD can also attract consumers that prefer this more familiar form of taking supplements rather than sublingual drops.
- CBD vapes and cartridges – Inhalation CBD products are very popular as they offer the fastest bioavailable cannabinoid method out of all the forms. There are plenty of ways to make vapes and cartridges a luxurious product – from the materials the vapes are made out of to the ingredients included in the vape oil. Not to mention all the accessories that go hand in hand with such a product.
- Tinctures – CBD tinctures are made by combining cannabinoids with alcohol or a strong alternative solvent. Extra plant extracts are also added to the tincture to improve the potential effects of the entourage effect. As with drops and sprays, the taste of tinctures can be a little peculiar – tinctures are popular with consumers who want to feel the effects of CBD quickly.
- Topicals and patches – Topicals and patches are a great alternative to taking CBD orally for customers looking to target specific external areas. CBD can be added to high-end skincare products to enjoy not only the benefits of top quality topical applications but also the bonus of CBD properties.
- CBD edibles – Perhaps one of the fastest-growing markets, CBD edibles include popular foods like gummies, sweets, chocolates and even baked goods. This is a fantastic way to market CBD as a delicious wellness treat. Just think of all those who enjoy indulging in posh chocolate truffles and have the option of having them infused with CBD properties. It will make that treat feel slightly less naughty.
Understand the Laws and Regulations Surrounding CBD
The laws and regulations of your CBD products will vary depending on your location. To understand CBD regulation in the UK, we will need to look at CBD and its origins. The CBD on the UK market mainly derives from either industrial hemp (known by its Latin name as cannabis Sativa) or other strains of the cannabis plant.
Industrial hemp has historically been cultivated for its fibre for making clothing, paper and construction. However, since we now have a better understanding of its safety and therapeutic properties, industrial hemp is also being grown for CBD extraction. CBD is legal in the UK, but the laws and regulations surrounding the selling of this compound are a little complicated.
When importing CBD into the UK, there is no strict requirement as long as the border authorities detect no THC. The THC content will need to be at 0.01% and verified by an accredited ISO lab. Various rules will apply when selling CBD in the UK, depending on the product category. For example, cosmetics require a cosmetic product safety report (CPSR), vape products will need to comply with non-nicotine e-liquid regulations such as those found in the General Products Safety Directive (GDPSD).
When it comes to CBD food and supplements, as of February 2020, all new products on the market require a Novel Food application. Before this date, products on the UK market needed to receive a validated submission or an approved novel food application by the end of March 2020. It is worth noting that it takes a significant amount of capital, time and resources to apply for novel food status or any other kind of licensing relating to CBD or hemp.
A hemp licence is currently not required to sell CBD in the UK, provided there is no THC detected. However, the sale of CBD flowers (also known as buds) is prohibited – even if the THC content is below 0.2% and from an EU approved origin. If you want to sell to EU member states, you need to be aware that each state has its own laws on CBD, and many are more stringent than those in the UK.
Create a Thorough CBD Business Plan
For your brand to have any chance of getting off the ground and being successful, you will need to create a detailed CBD business plan. Risking starting a business without a solid business plan is like driving without mirrors – you can do it, but you may not see a huge obstacle heading your way.
A business plan will also help you navigate and stay informed of changing regulatory policies related to your CBD niche. You will be able to more clearly identify operational priorities and new business opportunities which are being fuelled by market demand. In addition, your business plan is the document any stakeholders and financial supporters will want to see.
The types of information that should go into your business plan include the following:
- Market analysis – A market analysis aims to give you as much insightful information as possible on your industry size, competitors, customers and other market variables. This will allow you to make informed decisions regarding your CBD product positioning, pricing and overall market strategy.
- Brand name and product range – Describe how your brand name and other brand assets differentiated you from competitors. You should also state which CBD niche you plan to target and why and provide a brief description of your product range. This is a great place to focus on the CBD quality and competitive parameters.
- Financing and projections – Estimate the amount of capital you will require to launch your business and break the figure down by pre-launch investments, inventory purchases, and ongoing monthly costs. It is good to include a little contingency budget for the unplanned expenses that will likely crop up. Then look into how much time and number of sales will need to be made to break even every month. If you plan to self-finance your CBD business, estimate your cash runway – the amount of time your business will remain solvent if you do not make any sales. If you are aiming to secure future investment, there will be the need to prepare more figures. It is a good idea to list out your anticipated expenses vs profits and set targets for cost per acquisition (CPA), average order value (AOV), sales conversion rate, customer retention rate and customer lifetime value (CLV).
- Marketing plan – The marketing plan will detail your strategy for growing awareness around your luxury CBD brand. In addition, it will outline how you plan to acquire new customers and encourage repeat purchases. Your marketing plan is a cornerstone document that should be data-backed, realistic and channel-specific.
Writing a solid marketing plan takes time and research, but this early investment will reduce wasted budget spending and improve marketing results. It will also help you identify which business requirements you need, such as insurance or external specialist support from financial advisors.
Finding a reliable CBD supplier is perhaps the most important step in creating a luxury brand. When selling CBD, you will need to ensure that the compound is derived from legal hemp plants and not marijuana. Higher quantities of THC are found in marijuana plants, making them illegal in the UK and many other countries. A reputable supplier will have their products lab tested and provide a certificate of analysis (COA) that details the product content. It is a red flag if a supplier cannot offer a COA.
In addition to gaining a full understanding and insight into the general product contents, ask to see the result of the following:
- Pesticide testing – You will want to make sure your product is clean and organic
- Microbiological testing – This will show that there is no bacteria or mould inside the CBD sample
- Residual solvents testing – Ensures there are no unwanted chemicals remaining following the CBD extraction process
Your product quality has a huge impact on customer satisfaction and your business reputation as a top-quality CBD brand. A CBD consumer study found that 24% of CBD users stated that the product’s ability to generate the desired effect was their primary driver for making a purchase. If your product does not deliver the promised outcomes due to poor content quality, it will be a struggle to secure repeat business.
CBD is still a young market, and production remains relatively unregulated. Unfortunately, some fake products do appear on the shelves which contain no CBD. As a new brand, you do not want to end up on the sham side, so do your due diligence when assessing different CBD manufacturers. Go beyond requesting or performing an independent certification of analysis and evaluate potential wholesalers based on the following criteria:
- Their hemp sourcing method and origin
- The extraction method
- Reviews and recommendations from other entrepreneurs
- Pricing
- Extra services available such as labelling and shipping
How To Market Your Brand As Luxury CBD
Whether you are planning on having a brick and mortar store or being exclusively eCommerce – you will need to focus on digital marketing primarily. Luxury shoppers are spending more time online and on their mobile devices. A report by McKinsey revealed that digital now influences around 80% of all luxury sales.
The strategies outlined below are designed to provide you with some inspiration. However, remember that the best marketing strategies will come from clarifying your goal, breaking it down and brainstorming brand-specific solutions with your team.
- Utilise visual social networks – When it comes to marketing luxury products of any kind, photos and videos are the best way to evoke aspirational emotions that consumers connect with luxury products and exclusivity. Visual social networks represent a huge opportunity for your CBD brand to raise awareness and advocacy. With CBD, you will need to be incredibly careful what you post, as each social media platform has its own set of regulations. Check their CBD advertising laws as there may be some prohibited types of images or content.
- Build a high-end website – Luxury brand websites tend to be very stylish but can lack on the performance front when it comes to useability. Your brand website will need to combine style with user experience and functionality. The site should be intuitive and make it easy to find the products or information visitors wish to find. It is also worth checking whether your site will need an age verification page for your products.
- Understand the value of good SEO – One of the most influential tools for helping luxury shoppers find products, learn about new brands and make purchases is Google. Strong SEO practices will enable your website to rank well for search terms and capture potential customers.
- Create aspirational content – An effective way to generate traffic and engagement is to create highly visual and aspiration content. Focus on long-form visual content to generate social shares and SEO traffic. Content marketing is often massively underused by CBD brands, so it will give you a competitive advantage.
- Keep building your list – Although email may seem like an outdated marketing channel, email marketing is proven to be an extremely effective eCommerce tool. It can increase customer loyalty and prides an opportunity to keep them updated on new products, deals, and educational blogs. Just be sure to follow the General Data Protection Regulations (GDPR), which came into force in May 2018.
Final Thoughts
The CBD market is a very interesting industry to be a part of and can be a place where you can make a positive impact by supplying consumers with high-quality wellness products. As a CBD company, you will also need to constantly educate the public, partners and any stakeholders about your products, their legality and the absence of THC.
When you look at the CBD industry’s sales prospects, the market is set to swell by a compound annual growth rate (CAGR) of 21.2% from 2021 to 2028. There is also a rising acceptance and use of CBD products due to government approvals – a major factor in the boost in products and sales.
Frequently Asked Questions (FAQs)
How do you know if CBD is good quality?
A reputable CBD product will always come with a COA. This will mean that the product would have been tested by a third-party laboratory that does not have any stake in the CBD company or product. Customers should have access to a product’s COA so they can review and ensure it does not contain anything which may cause an adverse effect.
Why is CBD so expensive?
One of the primary reasons for CBD being expensive is that it is a new product. Until relatively recently, hemp farming was illegal in many countries, and as it is a crop, it takes time for supply to match the growing demand. CBD extraction is another driving factor for the cost. Currently, the extraction of CBD from hemp biomass is a bottleneck – there is a shortage of processors, and the actual cost of extraction is keeping the pricing up.
What are the consumer indicators of a luxury CBD brand?
CBD consumers choose to become more informed on the wellness products they decide to buy. As a result, they will expect your CBD brand to provide proof of third-party testing, transparency about where their hemp is grown, certified organic, and several dazzling reviews to back up the higher price tag for your luxury product.
Which eCommerce platforms facilitate online CBD stores?
Not every eCommerce platform allows creating an online CBD store due to opaque regulations. Similar to the importance of finding a trustworthy CBD supplier, your technology infrastructure will positively contribute to your brand. The eCommerce platforms that currently offer CBD store features include well-known Shopify, BigCommerce and Shift4Shop.
Does a luxury brand need a special shipping solution?
If you are trying to market to high net worth individuals, they are likely to travel and not live their lives in one permanent location. You will likely want to find a shipping provider that can offer fast delivery times and have the infrastructure to send your products overseas. Be sure to check the legal status of CBD in your customer’s location to ensure it is permitted for use. By creating a comprehensive shipping policy, you can be sure to manage expectations and avoid disappointing your customers.
Is it worth partnering with influencers?
A huge amount of CBD’s popularity comes from the people that publicly talk about their positive experiences. Many celebrities are now outspoken fans, some of whom have even launched their own CBD businesses. It should not be hard to find credible advocates for your brand, and they may be able to help positively promote your brand. Just be sure that anyone you partner with shares your brand values, and all communication stays within the latest regulations.
Can you advertise CBD on Facebook?
It can be challenging for cannabis-based businesses to navigate the advertising policies on Facebook. There are ways to get around Facebook’s ad targeting guidelines, but it is very easy to inadvertently violate the platform’s terms of service. So instead, focus on an educational angle by sharing infographics, thought-invoking articles and promoting your luxury brand image. Whatever you do, steer clear of using cannabis imagery as it will be flagged and taken down before even reaching your target audience.
Who is the primary target audience for CBD?
Regarding who is talking the most about CBD online, there have been some interesting stats uncovered by market analysts. Synthesio has reported that 18 to 35-year-olds are being most vocal. However, an older audience of 45-55-year-olds is also now talking about CBD on the internet. The products being mentioned the most are those that deliver the highest bioavailability – currently vapes and oils.
How are CBD food and food supplements regulated in the UK?
If you are interested in entering the food side of CBD in the UK, there are currently a few stumbling blocks. As of January 2019, the European Food Safety Authority (EFSA) changed the CBD classification in European law – which placed CBD in the Novel Food Catalogue. All novel foods are subject to Novel Food Regulations, which means that products which fall within this regulation are not markable without prior approval from the Novel Food Catalogue.
Is industrial hemp sustainable?
Sustainability is a major factor for many consumers, and that also applies to their wellness products. Industrial hemp is considered a very sustainable plant as it is resilient, easy to grow and can renew up to three times per year. In addition, it does not need toxic chemicals such as fertilisers and pesticides to grow as it is naturally pest-resistant.
References
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7324885/
https://www.gov.uk/guidance/making-cosmetic-products-available-to-consumers-in-great-britain
https://www.food.gov.uk/business-guidance/regulated-products/novel-foods-guidance
https://www.grandviewresearch.com/industry-analysis/cannabidiol-cbd-market
https://www.synthesio.com/blog/social-media-consumer-insights-cbd/
Table of Contents
Top Tips For Creating a Luxury CBD Brand
Table of Contents
Summary
Introduction
Identify Your CBD Niche and Products
Understand the Laws and Regulations Surrounding CBD
Create a Thorough CBD Business Plan
Find A Top Quality CBD Supplier
How To Market Your Brand As Luxury CBD
Final Thoughts
Frequently Asked Questions (FAQs)
References
Identify Your CBD Niche and Products
When assessing the overall market prospects, it is wise to get an understanding of the general niches. The most popular ones currently include:
- CBD infused foods and beverages
- CBD based cosmetics
- Supplements and wellness products
- CBD pet products
The next stage will be examining the product types as closely as possible. Most of them will differ and will be based on the CBD consumption method. Here are the main forms of taking CBD:
- Drops and sprays – CBD oil is the central ingredient in both these forms. This is a decarboxylated from hemp or hemp flower, which is then mixed with a carrier oil such as MCT oil, hemp seed oil and avocado oil. Drops and sprays often include added flavourings agents and other compounds to improve the taste and smell. However, this can also help add a sense of opulence to the product to appeal to those seeking a higher price tag.
- Pills and capsules – Not everyone is a fan of the distinct taste CBD oils tend to have, so wrapping a dose of CBD in flavoured gelatin or a luxurious soft capsule can make it more digestible. This form of CBD can also attract consumers that prefer this more familiar form of taking supplements rather than sublingual drops.
- CBD vapes and cartridges – Inhalation CBD products are very popular as they offer the fastest bioavailable cannabinoid method out of all the forms. There are plenty of ways to make vapes and cartridges a luxurious product – from the materials the vapes are made out of to the ingredients included in the vape oil. Not to mention all the accessories that go hand in hand with such a product.
- Tinctures – CBD tinctures are made by combining cannabinoids with alcohol or a strong alternative solvent. Extra plant extracts are also added to the tincture to improve the potential effects of the entourage effect. As with drops and sprays, the taste of tinctures can be a little peculiar – tinctures are popular with consumers who want to feel the effects of CBD quickly.
- Topicals and patches – Topicals and patches are a great alternative to taking CBD orally for customers looking to target specific external areas. CBD can be added to high-end skincare products to enjoy not only the benefits of top quality topical applications but also the bonus of CBD properties.
- CBD edibles – Perhaps one of the fastest-growing markets, CBD edibles include popular foods like gummies, sweets, chocolates and even baked goods. This is a fantastic way to market CBD as a delicious wellness treat. Just think of all those who enjoy indulging in posh chocolate truffles and have the option of having them infused with CBD properties. It will make that treat feel slightly less naughty.
Understand the Laws and Regulations Surrounding CBD
The laws and regulations of your CBD products will vary depending on your location. To understand CBD regulation in the UK, we will need to look at CBD and its origins. The CBD on the UK market mainly derives from either industrial hemp (known by its Latin name as cannabis Sativa) or other strains of the cannabis plant.
Industrial hemp has historically been cultivated for its fibre for making clothing, paper and construction. However, since we now have a better understanding of its safety and therapeutic properties, industrial hemp is also being grown for CBD extraction. CBD is legal in the UK, but the laws and regulations surrounding the selling of this compound are a little complicated.
When importing CBD into the UK, there is no strict requirement as long as the border authorities detect no THC. The THC content will need to be at 0.01% and verified by an accredited ISO lab. Various rules will apply when selling CBD in the UK, depending on the product category. For example, cosmetics require a cosmetic product safety report (CPSR), vape products will need to comply with non-nicotine e-liquid regulations such as those found in the General Products Safety Directive (GDPSD).
When it comes to CBD food and supplements, as of February 2020, all new products on the market require a Novel Food application. Before this date, products on the UK market needed to receive a validated submission or an approved novel food application by the end of March 2020. It is worth noting that it takes a significant amount of capital, time and resources to apply for novel food status or any other kind of licensing relating to CBD or hemp.
A hemp licence is currently not required to sell CBD in the UK, provided there is no THC detected. However, the sale of CBD flowers (also known as buds) is prohibited – even if the THC content is below 0.2% and from an EU approved origin. If you want to sell to EU member states, you need to be aware that each state has its own laws on CBD, and many are more stringent than those in the UK.
Create a Thorough CBD Business Plan
For your brand to have any chance of getting off the ground and being successful, you will need to create a detailed CBD business plan. Risking starting a business without a solid business plan is like driving without mirrors – you can do it, but you may not see a huge obstacle heading your way.
A business plan will also help you navigate and stay informed of changing regulatory policies related to your CBD niche. You will be able to more clearly identify operational priorities and new business opportunities which are being fuelled by market demand. In addition, your business plan is the document any stakeholders and financial supporters will want to see.
The types of information that should go into your business plan include the following:
- Market analysis – A market analysis aims to give you as much insightful information as possible on your industry size, competitors, customers and other market variables. This will allow you to make informed decisions regarding your CBD product positioning, pricing and overall market strategy.
- Brand name and product range – Describe how your brand name and other brand assets differentiated you from competitors. You should also state which CBD niche you plan to target and why and provide a brief description of your product range. This is a great place to focus on the CBD quality and competitive parameters.
- Financing and projections – Estimate the amount of capital you will require to launch your business and break the figure down by pre-launch investments, inventory purchases, and ongoing monthly costs. It is good to include a little contingency budget for the unplanned expenses that will likely crop up. Then look into how much time and number of sales will need to be made to break even every month. If you plan to self-finance your CBD business, estimate your cash runway – the amount of time your business will remain solvent if you do not make any sales. If you are aiming to secure future investment, there will be the need to prepare more figures. It is a good idea to list out your anticipated expenses vs profits and set targets for cost per acquisition (CPA), average order value (AOV), sales conversion rate, customer retention rate and customer lifetime value (CLV).
- Marketing plan – The marketing plan will detail your strategy for growing awareness around your luxury CBD brand. In addition, it will outline how you plan to acquire new customers and encourage repeat purchases. Your marketing plan is a cornerstone document that should be data-backed, realistic and channel-specific.
Writing a solid marketing plan takes time and research, but this early investment will reduce wasted budget spending and improve marketing results. It will also help you identify which business requirements you need, such as insurance or external specialist support from financial advisors.
Finding a reliable CBD supplier is perhaps the most important step in creating a luxury brand. When selling CBD, you will need to ensure that the compound is derived from legal hemp plants and not marijuana. Higher quantities of THC are found in marijuana plants, making them illegal in the UK and many other countries. A reputable supplier will have their products lab tested and provide a certificate of analysis (COA) that details the product content. It is a red flag if a supplier cannot offer a COA.
In addition to gaining a full understanding and insight into the general product contents, ask to see the result of the following:
- Pesticide testing – You will want to make sure your product is clean and organic
- Microbiological testing – This will show that there is no bacteria or mould inside the CBD sample
- Residual solvents testing – Ensures there are no unwanted chemicals remaining following the CBD extraction process
Your product quality has a huge impact on customer satisfaction and your business reputation as a top-quality CBD brand. A CBD consumer study found that 24% of CBD users stated that the product’s ability to generate the desired effect was their primary driver for making a purchase. If your product does not deliver the promised outcomes due to poor content quality, it will be a struggle to secure repeat business.
CBD is still a young market, and production remains relatively unregulated. Unfortunately, some fake products do appear on the shelves which contain no CBD. As a new brand, you do not want to end up on the sham side, so do your due diligence when assessing different CBD manufacturers. Go beyond requesting or performing an independent certification of analysis and evaluate potential wholesalers based on the following criteria:
- Their hemp sourcing method and origin
- The extraction method
- Reviews and recommendations from other entrepreneurs
- Pricing
- Extra services available such as labelling and shipping
How To Market Your Brand As Luxury CBD
Whether you are planning on having a brick and mortar store or being exclusively eCommerce – you will need to focus on digital marketing primarily. Luxury shoppers are spending more time online and on their mobile devices. A report by McKinsey revealed that digital now influences around 80% of all luxury sales.
The strategies outlined below are designed to provide you with some inspiration. However, remember that the best marketing strategies will come from clarifying your goal, breaking it down and brainstorming brand-specific solutions with your team.
- Utilise visual social networks – When it comes to marketing luxury products of any kind, photos and videos are the best way to evoke aspirational emotions that consumers connect with luxury products and exclusivity. Visual social networks represent a huge opportunity for your CBD brand to raise awareness and advocacy. With CBD, you will need to be incredibly careful what you post, as each social media platform has its own set of regulations. Check their CBD advertising laws as there may be some prohibited types of images or content.
- Build a high-end website – Luxury brand websites tend to be very stylish but can lack on the performance front when it comes to useability. Your brand website will need to combine style with user experience and functionality. The site should be intuitive and make it easy to find the products or information visitors wish to find. It is also worth checking whether your site will need an age verification page for your products.
- Understand the value of good SEO – One of the most influential tools for helping luxury shoppers find products, learn about new brands and make purchases is Google. Strong SEO practices will enable your website to rank well for search terms and capture potential customers.
- Create aspirational content – An effective way to generate traffic and engagement is to create highly visual and aspiration content. Focus on long-form visual content to generate social shares and SEO traffic. Content marketing is often massively underused by CBD brands, so it will give you a competitive advantage.
- Keep building your list – Although email may seem like an outdated marketing channel, email marketing is proven to be an extremely effective eCommerce tool. It can increase customer loyalty and prides an opportunity to keep them updated on new products, deals, and educational blogs. Just be sure to follow the General Data Protection Regulations (GDPR), which came into force in May 2018.
Final Thoughts
The CBD market is a very interesting industry to be a part of and can be a place where you can make a positive impact by supplying consumers with high-quality wellness products. As a CBD company, you will also need to constantly educate the public, partners and any stakeholders about your products, their legality and the absence of THC.
When you look at the CBD industry’s sales prospects, the market is set to swell by a compound annual growth rate (CAGR) of 21.2% from 2021 to 2028. There is also a rising acceptance and use of CBD products due to government approvals – a major factor in the boost in products and sales.
Frequently Asked Questions (FAQs)
How do you know if CBD is good quality?
A reputable CBD product will always come with a COA. This will mean that the product would have been tested by a third-party laboratory that does not have any stake in the CBD company or product. Customers should have access to a product’s COA so they can review and ensure it does not contain anything which may cause an adverse effect.
Why is CBD so expensive?
One of the primary reasons for CBD being expensive is that it is a new product. Until relatively recently, hemp farming was illegal in many countries, and as it is a crop, it takes time for supply to match the growing demand. CBD extraction is another driving factor for the cost. Currently, the extraction of CBD from hemp biomass is a bottleneck – there is a shortage of processors, and the actual cost of extraction is keeping the pricing up.
What are the consumer indicators of a luxury CBD brand?
CBD consumers choose to become more informed on the wellness products they decide to buy. As a result, they will expect your CBD brand to provide proof of third-party testing, transparency about where their hemp is grown, certified organic, and several dazzling reviews to back up the higher price tag for your luxury product.
Which eCommerce platforms facilitate online CBD stores?
Not every eCommerce platform allows creating an online CBD store due to opaque regulations. Similar to the importance of finding a trustworthy CBD supplier, your technology infrastructure will positively contribute to your brand. The eCommerce platforms that currently offer CBD store features include well-known Shopify, BigCommerce and Shift4Shop.
Does a luxury brand need a special shipping solution?
If you are trying to market to high net worth individuals, they are likely to travel and not live their lives in one permanent location. You will likely want to find a shipping provider that can offer fast delivery times and have the infrastructure to send your products overseas. Be sure to check the legal status of CBD in your customer’s location to ensure it is permitted for use. By creating a comprehensive shipping policy, you can be sure to manage expectations and avoid disappointing your customers.
Is it worth partnering with influencers?
A huge amount of CBD’s popularity comes from the people that publicly talk about their positive experiences. Many celebrities are now outspoken fans, some of whom have even launched their own CBD businesses. It should not be hard to find credible advocates for your brand, and they may be able to help positively promote your brand. Just be sure that anyone you partner with shares your brand values, and all communication stays within the latest regulations.
Can you advertise CBD on Facebook?
It can be challenging for cannabis-based businesses to navigate the advertising policies on Facebook. There are ways to get around Facebook’s ad targeting guidelines, but it is very easy to inadvertently violate the platform’s terms of service. So instead, focus on an educational angle by sharing infographics, thought-invoking articles and promoting your luxury brand image. Whatever you do, steer clear of using cannabis imagery as it will be flagged and taken down before even reaching your target audience.
Who is the primary target audience for CBD?
Regarding who is talking the most about CBD online, there have been some interesting stats uncovered by market analysts. Synthesio has reported that 18 to 35-year-olds are being most vocal. However, an older audience of 45-55-year-olds is also now talking about CBD on the internet. The products being mentioned the most are those that deliver the highest bioavailability – currently vapes and oils.
How are CBD food and food supplements regulated in the UK?
If you are interested in entering the food side of CBD in the UK, there are currently a few stumbling blocks. As of January 2019, the European Food Safety Authority (EFSA) changed the CBD classification in European law – which placed CBD in the Novel Food Catalogue. All novel foods are subject to Novel Food Regulations, which means that products which fall within this regulation are not markable without prior approval from the Novel Food Catalogue.
Is industrial hemp sustainable?
Sustainability is a major factor for many consumers, and that also applies to their wellness products. Industrial hemp is considered a very sustainable plant as it is resilient, easy to grow and can renew up to three times per year. In addition, it does not need toxic chemicals such as fertilisers and pesticides to grow as it is naturally pest-resistant.
References
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7324885/
https://www.gov.uk/guidance/making-cosmetic-products-available-to-consumers-in-great-britain
https://www.food.gov.uk/business-guidance/regulated-products/novel-foods-guidance
https://www.grandviewresearch.com/industry-analysis/cannabidiol-cbd-market
https://www.synthesio.com/blog/social-media-consumer-insights-cbd/
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