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Is CBD Saving Retail?

By November 4, 2019Uncategorized

CBD products are gaining distribution at traditional retailers, including three of America’s largest drugstore chains. Consumers visiting CVS, Walgreens and Rite Aid can add CBD-infused topical products to their shopping baskets, along with the usual items on their shopping list.

However, drugstores aren’t selling edibles yet. CVS official, Joe Goode, stated that while they aren’t selling CBD supplements or food additives, they are working with product manufacturers that meet quality standards.

For now, find the following CBD-infused products at select retailers:

  • Creams
  • Sprays
  • Roll-ons
  • Lotions
  • Salves

Consumers seeking edibles will still need to visit local dispensaries.

We’ll see how long that lasts, as traditional retailers recognize that cannabis products are a winning ticket. By 2025, the CBD market is predicted to exceed $16 billion, according to research shared by Forbes.

CBD Products are Revitalizing Retail

As cannabis is legalized in more states, the amount of brick-and-mortar retail chains selling CBD products will grow. That growth will benefit both consumers, who say that convenience of location is crucial to where they buy, and retailers, who need the revenue.

Traditional retailers who are struggling to protect their business model from online sales, are looking to cannabis products. Just last year, Cannabis Dispensaries hired more than 121,000 full-time workers, while in 2018, U.S. retailers lost 99,000 jobs and continue to cut jobs in 2019,

Spending at cannabis dispensaries increased to more than $10.5 billion, while big-name retail chains like Sears and Toys R Us filed bankruptcy.  The sales numbers are predicted to grow even more – worldwide spending is forecast to grow 39.1% to $17 Billion in 2019.

The Future is Bright

The future of CBD products in retail is bright. Ironically, it’s the states’ regulations and the federal government deeming cannabis illegal that has helped to create a climate where cannabis sales thrive at brick-and-mortar locations.

If you are wondering where CVS, Walgreens and Rite Aid are offering CBD-infused products, see the list below.

Where to find CBD-selling drugstores, by state:

  • Alabama (CVS)
  • California (CVS)
  • Colorado (CVS, Walgreens)
  • Illinois (CVS, Walgreens)
  • Indiana (CVS, Walgreens)
  • Kentucky (CVS, Walgreens)
  • Maryland (CVS)
  • New Mexico (Walgreens)
  • Oregon (Walgreens, Rite Aid)
  • South Carolina (Walgreens)
  • Tennessee (CVS, Walgreens)
  • Vermont (Walgreens)
  • Washington (Rite Aid)

 

Are you seeing CBD products in stores near you?

KAYA

Author KAYA

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