Retailers: Choose CBD Partners Wisely
Retailers: Choose CBD Partners Wisely – By Jacopo D’Alessandris, President and CEO, E-Alternative Solutions LLC.
A few months ago, I wrote here about CBD’s takeover at Tobacco Plus Expo (TPE), and how regulatory change, sharpening consumer demand, and the rise of industry players would shape the market rapidly.
Just as they have shaped the vapor industry for more than a decade, these forces continue to steer the CBD business at lightning speed. While demand for these products brings exciting opportunity for retailers of nearly every stripe, from convenience stores to new CBD-centric boutiques, critical questions remain: what should retailers look for in a CBD partner? How should they approach the market for success? What, if anything, can we learn from the recent history of the vapor industry?
Like all regulated industries, this category desperately needs serious companies who can bring the right mix of high-quality products and the solutions to help retailers strategically merchandise and sell their assortment with an eye on the long-term. If we have learned anything from the vaping industry, it’s that retailers must resist the urge to jump on board with the first fly-by-night companies that show up at their door. They would be well-served to instead carefully curate their portfolio and select an assortment of brands with proven track records of reliability, quality, innovation, and compliance.
Retailers that are interested in CBD have a rare opportunity to learn from the mistakes that were made by many 10 years ago with vaping. With so many CBD companies eager to cash in quickly at the expense of quality and reputation, the partnerships and decisions made now in the industry’s early stages will inform future regulation and consumer perceptions in a meaningful way. Regulatory change does not exist in a bubble. Good policy comes from vigilant study and careful observation of market forces. The business decisions we make today will ultimately shape the regulatory landscape and the industry’s future.
At E-Alternative Solutions (EAS) we do more than incubate innovative alternative brands. We partner with retailers to sell product in and help sell it out – bringing the tools to help them effectively merchandise and sell their goods. Specifically, we stand apart in three areas: quality and innovation, sales and marketing, and compliance.
With these principles in mind, as we launch FORTH, our first CBD brand, we move forward not with the goal of scaling up and cashing in, as so many others have. Rather, we are building with an eye on the long-term. It’s why we’ve designed a one-market test run with Sheetz stores across Pennsylvania, before launching nationally or even regionally. This will allow us to fine-tune our offering on every front, from assortment to promotion, and develop a leadership position that poises us for long-term success. As with all other EAS brands, Forth is built by adults, for adults – with the highest standards of quality, from lab tested US grown hemp to child proof packaging. You can check it out here: www.forthcbd.com.
As CBD continues to mature, and we continue to develop FORTH, I will continue to post here about forces shaping this incredible emerging market and our efforts at EAS to lead the industry into A World Beyond.
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- TPE 2020 Offers Retailers Tips for Joining the CBD Game