Ranking and Market Share |
#18 - 1.5% of overall market. 2019 sales: $38 million. 2018 sales: $5 million |
Product Portfolio |
Tinctures (oil), capsules, edibles, vapes, topicals, skincare and beauty, and pet |
Distribution Channels |
Online, independent pharmacies, smoke shops, gyms, salons, natural food stores, pet stores |
Positioning |
Successful "disruptor" brand that has seen very rapid growth since 2018 driven by its effective, non-traditional marketing strategies (athlete sponsorships, successful social media presence) and unique product portfolio, which is THC-free and includes high-dose products |
Competitive Advantages |
Extremely strong online presence; All products THC-free and broad spectrum, giving company an advantage among conservative customers and risk-averse retailers; Publicly traded parent company with access to capital |
Core Competencies |
Developing organic consumer base and loyal following with strategic, thoughtful online presence; Offering organic, quality products that are third party lab-tested and THC-free, and available in potent doses |
Making the most money on |
Tinctures, topicals, gummies |
Doing well |
Clean, simple branding supporting a reasonably diverse (but not overly saturated) product menu makes company's goods approachable by the average consumer as well as retailer; Company also encourages normalization of CBD through education and marketing campaigns targeted at those not otherwise generally exposed to CBD |
Beneficial trends |
Increased interest in high-dose products, which cbdMD appeals to with tincture products containing up to 7,500 mg CBD; Company has used effective online campaigns to establish broad social media reach, influencing consumer education and purchasing decisions |
Niches competitors are missing |
Using creative advertising and marketing methods to reach audiences that would not otherwise be exposed to or willing to try CBD (e.g. viewers of athletic events, cat followers on Instagram), effectively penetrating mainstream channels not reached by other major CBD players |
New needs of customers |
|
Additional growth opportunities |
Posed for rapid expansion of distribution network and brick-and-mortar presence, especially in major chains |
Who do they want to be? |
The top recognized organic, premium CBD brand in the U.S., available and accessible to consumers across the country shopping in diverse mainstream channels or online |
Priorities |
Expanding distribution to larger wholesalers; Identifying and developing additional CBD product offerings to fit a more diverse, broader market based on data and trends; Continuing to develop advertising, media and sales channels |
Chief competitors |
CW Hemp, Green Roads, CBDistillery, Medterra |