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Ranking and Market Share |
#16 - 1.7% of overall market. 2019 sales: $42 million; 2018 sales: $30 million |
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Product Portfolio |
Tinctures (oils), vapes, edibles & drinks, topicals, skincare and beauty, capsules, and pet |
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Distribution Channels |
Smoke shops, CBD specialty stores, dispensaries, online, natural food stores, doctors' offices, chiropractors, massage therapists, pet stores, gym/yoga |
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Positioning |
Wide selection of products tailored to both the classic cannabis consumer and a broader millennial customer base. The company is known for its product innovation and creative distribution channels, including mall kiosks and mobile sales vans |
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Competitive Advantages |
Extensive online and brick-and-mortar presence, particularly in smoke shops; Excelling with vape and topical sales as well as leveraging wide variety of product types to draw in new customers looking to enter market or current users seeking alternative dosing methods |
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Core Competencies |
Product diversity and innovation |
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Making the most money on |
Vapes, topicals |
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Doing well |
Increasing and diversifying sales outlets: mall kiosks, reward-based referral programs, giveaways. Utilizing influencers and celebrities for marketing (e.g. Tommy Chong and Lawrence Taylor). |
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Beneficial trends |
Impending wave of new users seeking educational resources: The company maintains Education Center, a print magazine, and a marketing campaign to show the differences between THC and CBD. Offering many brand types to appeal to various CBD consumers, new and old, including sports medicine-related, pet-CBD, and medicinal products |
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Niches competitors are missing |
Frequent development of innovative product types and delivery systems, such as CBD pet spray, relax shots, caramel corn, and oil delivered via squeeze package, help company reach new consumer niches |
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New needs of customers |
Educating the mainstream consumer, bringing in new customers through referral program and giveaways, continued innovation in products |
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Additional growth opportunities |
Prospects in Canadian, European markets. Recent addition of a THC-free, pharmacist-formulated CBD brand that will appeal to medicinal users and mainstream consumers |
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Who do they want to be? |
Become a name trusted for reliable, high-quality products, as well as a market leader in innovation |
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Desire to be known for |
Its dedicated team of doctors and scientists performing research and development to bring a wide variety of interesting and effective CBD products to the mainstream on the world stage |
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Priorities |
Growth in international markets, diversification and expansion of retail channels |
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Chief competitors |
Green Roads, CBDfx, CBDistillery |