CBD Company - cbdMD

 

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

Strengths

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

Opportunities

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

Aspirations and Results

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

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