CBD Vending Machines on the Way
Point Roberts, Washington and Delta, British Columbia--(Newsfile Corp. - December 17, 2019) - Investorideas.com, a leading investor news resource covering cannabis and hemp stocks releases a special report on recent events with regards to new product and retail developments in the CBD space as the holiday shopping season winds up, featuring news from Canbiola, Inc. (OTCQB: CANB).
CBD products exploded in 2019 and are now more accessible through new retail agreements and online sales. As the year rolled along, many consumers gained more awareness of the CBD space. They have more trust and knowledge of the products they are looking for as companies now offer more transparency and education. This leads us to the 2019 Holiday Shopping Season which is giving many CBD companies the opportunity to reinvigorate sales and introduce new products and sales avenues.
According to recent data, "CBD Search rates grew 126% between 2016 and 2017, then another 160% from 2017 to 2018, the study said. People are estimated to search for "CBD" and "cannabidiol" 117.7% more this year, compared to last year."
Canbiola, Inc. (OTCQB: CANB),a developer, manufacturer and seller of a variety of hemp-derived THC-Free Cannabidiol (CBD) Isolate products such as oils, drops/tinctures, creams, moisturizers, chews and capsules announced the deployment of the first 10 Canbiola-branded CBD product dispensing machines.
As previously announced, the initial focus of this new direct-to-consumer marketing strategy will be to place the product dispensing machines in MRI Centers, outpatient surgery centers, urgent and emergency care facilities, physician offices, high traffic shopping malls, fitness and health clubs, country club golf pro-shops, and even high-end hotels. Each product dispensing machine will dispense a variety of up to 10 of Canbiola CBD products (SKU's) including hemp oil drops, CBD salve and CBD Cryo Gel. The product dispensing machines include a video screen with an explanation of CBD, a doctor interview/tutorial on the potential applications of CBD and certificate of analysis (COA) for each product being sold.
The sale and demographic data from the first 10 unit placements will be used to gather and analyze data to dictate the placement of the planned deployment of up to 150 units in 2020.
Canbiola Chief Executive Officer, Marco Alfonsi commented, "The deployments of the Canbiola branded CBD machines will not only increase revenue but based on the placement in high visibility locations will dramatically increase brand awareness and allow consumers to learn about CBD and place orders in an environment outside of the internet or a traditional retail store."
In other news, the company announced that Green Grow Farms, for which the Company has signed a definitive acquisition agreement (to acquire 51% of), has signed a national Dealer agreement with "The Triminator" to re-sell their full line of Hemp Industry products inclusive of harvesters, trimmers, dryer, buckers and other related products. After much research, Green Grow has determined the "The Triminator" manufactures some of the best equipment on the market today; equipment that Green Grow will be using in its operations as well re-selling to customers, primarily in the northeast region of the United States.
Green Grow Farms is positioning itself for 2020 to, in addition to growing, being a full service provider for the Hemp Growing Community in the northeast region of the United States, providing the best in harvesting, bucking, drying, curing, trimming and processing. Green Grow intends to make the capital commitment to build the required infrastructure to provide turnkey solutions for all the aforementioned services to hemp growers of the northeast for 2020. Green Grow will continue to partner with or develop the finest array of automated equipment for the hemp Industry.
CBD For Life, a subsidiary of iAnthus Capital Holdings, Inc., which owns, operates and partners with best-in-class regulated cannabis operations across the United States, recently announced that it has now reached over 2,600 retail stores in the United States with its leading CBD-infused wellness and self-care products.
In addition to traditional retailers like Urban Outfitters, Dillard's, The Hallmark Store and Wegman's, CBD For Life's products can now be found with top shelf placement in newsstands in hundreds of high traffic areas including rail stations, commuter terminals and airports. The Company also began a limited roll out of products with UNFI Distribution, the largest natural foods distribution company in the United States and Canada with over 43,000 customers including natural foods grocers, health food markets and superstores. The Company's products are also available online at CBDforlife.us, Dillards.com, UrbanOutfitters.com and were recently re-launched at TheGrommet.com. CBD For Life's rubs were recently featured on the Yahoo.com holiday shopping guide "7 classy stocking stuffers they'll never guess are under $25", and the company has now reached over 1000 5-star product reviews.
"We are thrilled that CBD products are in such high demand this holiday season. On Black Friday alone this year, we saw a nearly 300% increase in our average daily sales. Cyber Monday was similar. Our holiday gift set, available through our website, is seeing incredible sell-through. With the recent upgrades we've made to our website, e-commerce fulfillment, and third-party logistics systems, we are ready to meet that demand and can't wait to put smiles on thousands of faces on Christmas Day!" said Julie Winter, Vice President at iAnthus and General Manager of CBD For Life. "We are beginning our fifth year of operations with great momentum. In the new year, look for new packaging and new products, including deodorant and lip treatments."
Canopy Growth Corporation, USA, LLC recently announced their entry into the US CBD space with the launch of First & Free - a hemp-derived CBD product line offered in a variety of formats, including softgels, oil drops and creams. The products will be available for purchase on the company's first e-commerce site: www.firstandfree.com.
Perfected through state-of-the-art technology and rigorous testing, First & Free products are created by extracting and isolating derivatives from the hemp plant to produce pure and consistent CBD formulations that are packaged in easy-to-use formats.
"First & Free marks a new way for US consumers to purchase quality CBD products from a trusted source," said Rade Kovacevic, President of Canopy Growth. "Through state-of-the art extraction methods, strict quality control measures, and scientific research, we are delivering a best-in-class product to the market."
At launch, the First & Free brand will offer the following hemp-derived CBD products:
- First & Free Oil Drops
- Unflavored 25 mg per mL (750 mg per 30 mL bottle)
- Peppermint flavor 25 mg per mL (750 mg per 30 mL bottle)
- First & Free Softgels
- 250 mg CBD carton (10 softgels)
- 750 mg CBD bottle (30 softgels)
- 1500 mg CBD bottle (30 softgels)
- First & Free Creams*
- 2500 mg Everyday Cream (CBD Only)
- 2500 mg Motion Cream (CBD + Arnica)
- 2500 mg Revitalize Cream (CBD + Capsaicin)
Canopy Growth is committed to selling only high-quality, tested and reliable products, and ensuring it makes no claims unless clinically validated. This means selling First & Free products only in States where permissible under state law in order to ensure compliance with state consumer protection mandates and following the most stringent state laws regarding the sale of CBD. The Company is also abiding by existing FDA regulations for manufacturing, labeling and marketing dietary supplements.
CBD products are not only making movement in the US, but are also starting to have an impact in the EU with companies like Puration, Inc., who recently announced entering into a contract to begin bottling EVERx CBD Sports Water in Europe. The company recently acquired a company to facilitate bottling in Europe as part of an overall initiative to expand bottling capacity world-wide. The company also entered into a distribution agreement in Europe estimated to add $4 million in sales next year.
Management indicates that the potential of European distribution goes beyond the initial $4 million projection warranted by the establishment of a local bottling capacity. The European market for CBD is projected to reach nearly US $17 billion by 2023. The company has scheduled an update with more details on the company's recently announced 2020 expansion plan scheduled for next week on Tuesday, December 17, 2019. PURA's expansion is intended to substantially increase PURA's 2020 prospects beyond its current $8 million revenue target. PURA has recently reconfirmed its $4 million revenue target for 2019 and an $8 million revenue target for 2020.
2019 has been an explosive year for the CBD and Hemp industry and as this year makes a close, many are looking to capitalize on this Holiday momentum and to continue to drive sales and growth into and through 2020. We are now beginning to see which product SKUs consumers are demanding, and as more clarity from the FDA comes out and as competition forces higher company standards, we can expect to see the CBD/Hemp industry having an even larger impact on the 2020 Holiday season.
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