CBD Company - CBDfx

 

Ranking and Market Share

#6 - 3.6% of overall market. 2019 sales: $87 million; 2018 sales: $24 million

Product Portfolio

Tinctures (oil), topicals, skincare and beauty, vape cartridges, edibles, drinks, capsules, concentrates, terpenes, and pet

Distribution Channels

Online, smoke shops, gas stations, convenience stores, shopping malls, natural food stores, dispensaries, mass retail channels

Positioning

CBDfx very diverse line of products are designed for a variety of consumers, from every day consumers looking for on-the-go, accessible products to be found at the average gas station check-stand, to those looking for upscale beauty products in a high-end boutique. As a reflection of that, the company's goods are available across a wide spectrum of retail channels.

Strengths

Competitive Advantages

Long history and broad brand recognition, particularly among vape users, strong loyalty and legitimacy among base consumers and more diverse mainstream consumers. Long and successful history selling through Spencers retail chain, giving company a leg up when approaching major retailers looking to scale

Core Competencies

Convenient, expanding network of distribution outlets, including strong presence in convenience stores at check-out stands and front counters (POS); Constant product innovation and evolution; Strong, loyal customer base built from success in vape space

Making the most money on

Tinctures, topicals

Doing well

Leveraging history and unique (small, portable) product display method to get products on thousands of retail shelves, innovating product line to branch out beyond traditional cannabis and CBD consumers while maintaining current client base. Broader and more successful presence in  international markets versus most competitors

Opportunities

Beneficial trends

Displays at front counters and checkstands appeal to mainstream users who are new to market and only willing to commit to convenience and cost of inexpensive, one-dose products - also build in brand loyalty

Niches competitors are missing

Unique approach to product development and innovation, keeping most of portfolio focused on quick, affordable and accessible products for on-the-go consumers, newbies and impulse purchasers; Popular vape products appeal well to both tobacco and cannabis smokers interested in incorporating/substituting CBD vape options into smoking routines

New needs of customers

Always early to innovate in product formats, including beauty and skincare, drawing in broader swaths of mainstream market

Additional growth opportunities

Brand has experience with nationwide chain store retailing, a large advantage as big-box stores shelve more CBD products and continue shop around for suppliers, but is still working to better tailor its brand and product to a wide variety of consumers beyond classic vape users

Aspirations and Results

Who do they want to be?

The first brand chained retailers look to when considering stocking CBD products, backed by a reliable history and quality product.

Desire to be known for

Organic international and U.S. growth reached through consistent quality of all products in portfolio, and built from the ground up

Priorities

Menu diversification and innovation; Growth beyond traditional vape users.

Chief competitors

CW Hemp, Medterra, Select CBD

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