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Ranking and Market Share |
#7 - 3.4% of overall market. 2019 sales: $83 million; 2018 sales: $39 million |
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Product Portfolio |
Tinctures (oil), isolates, topicals, skincare and beauty, pet, vape products, capsules and softgels, edibles (gummies, drink mix), suppositories |
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Distribution Channels |
Online, smoke shops, CBD specialty stores, medical and alternative care offices, dispensaries, natural food stores, gas stations, and independent pharmacies |
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Positioning |
Extensive product menu, low price points make company's portfolio appealing to frequent and budget users, such as those with chronic conditions. Diverse product types and retail locations also appeal to experienced users interested in more sophisticated or unique delivery systems (e.g. isolates, concentrates, high-dosage products) |
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Competitive Advantages |
Inexpensive products and varied menu that appeals to frequent, regular users |
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Core Competencies |
Strong presence in head shops and online; Effective in addressing smaller, overlooked markets with tailored local/community advertising; Accessible pricing; Private labeling |
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Making the most money on |
Tinctures, gummies, softgels |
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Doing well |
Broadening horizons with successful recent branding overhaul to appeal to more mainstream audience, bolstered by influencers, professional athlete sponsorships; Presence in 15 countries and growing; Maintaining low price menu |
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Beneficial trends |
Partnerships with former UFC Champions, online influencers, helping efforts to recruit new users; Pivot toward high-potency products, which CBDistillery offers for less per milligram |
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Niches competitors are missing |
Appealing particularly well to budget users; Expanding user base by evolving product line to be more inclusive, for example, by incorporating THC-free products, CBDistilleryRX high-dose, medical-grade CBD line |
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New needs of customers |
Better appealing to needs of 55+ crowd and broader range of CBD users instead of catering primarily to classic cannabis user profile by developing more mainstream-friendly products (e.g. rather than concentrates, focusing on topicals and precisely-dosed oils), re-branding and expanding retail channels |
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Additional growth opportunities |
International outlets, increasing revenues from product innovation, physician-grade products; a new drive to focus on medical channels, with expansion in physician's offices and independent pharmacies |
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Who do they want to be? |
An industry leader supplying reliable, high quality CBD products (including medical-grade) at affordable prices |
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Desire to be known for |
Providing customers around the world with high-quality CBD products at a fair price, as well as providing users with access to education, research and testimonials |
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Priorities |
Domestic and international expansion via brick-and-mortar retail outlets; Appealing to wider audience - particularly older users - with more sophisticated, diverse products and cleaner branding |
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Chief competitors |
CW Hemp, Green Roads, Elixinol, cbdMD |