CBD is one of the special cannabinoids in cannabis that stands out for many reasons. Research into the compound helped to identify numerous beneficial uses of the compound. The non-psychoactive nature of the compound made it easily accepted and widely promoted its use. The cannabinoid promotes a calm and relaxed feeling and is used medicinally for pain relief and inflammation. CDB is commonly used in different forms such as tinctures, topical creams, and transdermal patches. It should be noted that the increased hand washing that we’re seeing in the world because of the COVID-19 pandemic is opening up a new market for CBD. Read on as we explore the possibilities in this new market opportunity for CBD.
An emerging market
The year 2020 was placed largely in the shadow of the events around the COVID-19 pandemic. The growth and worldwide spread of the virus placed different governments in a tough situation to curtail the spread. The use of face masks, frequent hand washing, and social distancing was projected as moves to curtail the spread of the virus. Despite the skepticism at first, these methods caught on and became a common part of most societies. Even when nations had to go into full lockdown procedures, hand washing remained a frequent act to stop the spread of the virus.
The need for increased hand washing has the capacity of opening a new and string market for CBD. This is evident by the growth in sales of lotions by Cornbread Hemp, a CBD company. Cornbread Hemp has two CBD cream products for sale. This includes the 200mg CBD lotion for the skin and the 500mg CBD lotion for joint and muscle discomfort. The initial observation by the brand was that sales of the 500mg lotion doubled that of the 200mg lotion for the skin. This trend was observed despite the fact that the 500mg CBD cream was double the cost of the 200mg cream.
A different trend however followed suit in March 2020 with the onset of the pandemic. The 200mg CBD lotion steadily increased in sales and this was due to its effectiveness in caring for dry hands. One of the downsides of having to wash your hands frequently is that it may leave the hands dry after some time. The CBD lotions for the skin made by Cornbread Hemp attended to this problem and ensured that the hands were soft and smooth. This reality poses the chance of creating a strong market for CBD bearing in mind that COVID-19 is a global issue.
CBD lotions are different from other CBD products such as CBD salves. Despite the fact that both are applied to the skin for seemingly the same purpose, their effects and effectiveness are quite different. CBD salves are oil-bases and are usually made from beeswax. Their effects when applied to the skin is that they tend to sit on the skin. They also have a downside of collecting dirt making them less effective. They are also counterproductive for conditions like eczema. CBD lotions on the other hand absorb quickly and help to make the hands smooth and soft.
Frequent hand washing though beneficial for curbing the spread of COVID-19 is unpleasant for some. People with underlying skin conditions tend to have issues with having to wash their hands multiple times daily. This is because it can lead to cracked and chapped hands and be very painful when it dries out. A common class of these people is those suffering from hand eczema which is approximately 10% of the US population. Though moisturizers, steroid creams, and tar-based ointments are normally used for these conditions, they offer little help to settle the issue. This creates a good opportunity for CBD lotions to come to the rescue.
CBD lotions prior to the 200mg lotion by Cornbread Hemp were mostly made from CBD isolates. This offered less than what is available with a full spectrum CBD lotion. Full-spectrum CBD lotions have the added advantage of the entourage effect of other cannabinoids. This helps to improve the effectiveness and usefulness. This is why Cornbread Hemp made a CBD full spectrum lotion and since then, CBD full spectrum lotions have been on the rise.
Marketing the products
Following the identification of this opportunity, the next thing is how firms in the CBD industry can maximize this. This tends to pose a problem due to the impact of restrictions by the FDA and the counterproductive actions of some other CBD marketers. In order to get the attention of the public, some CBD marketers go as far as making unsubstantiated claims about CBD. This includes making claims that CBD can deal with cancer, COVID-19, and many other baseless claims. The FDA responds to this by targeting such brands and their products for misleading the public.
This poses a problem for other honest CBD brands in the industry because there is a limit to their marketing power. Brands with products like CBD lotions that can help dry hands cannot market them effectively because they get the same treatment by the FDA. However, pending the time that the situation changes with the FDA, the onus remains on CBD firms to do the best they can to safely get their products out there. The stance of the FDA is sure to change soonest but pending that time, a huge niche for CBD lotions will be going to waste during this pandemic if not properly maximized.
The COVID-19 pandemic has affected our daily lives and the economy. However, it has opened up opportunities for some new markets to thrive. Delivery services and e-commerce have been on the rise and so can CBD lotions if properly utilized. The need for increased hand washing creates a good niche for the use of CBD lotions if properly maximized. Provided the marketing issues are settled and the CBD lotions can get to the public, they will do a world of good especially for people with underlying skin conditions such as eczema.
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