CBD Company - Irwin Naturals

 

Ranking and Market Share

#5 - 3.7% of overall market. 2019 sales: $91 million; 2018 sales: Negligible

Product Portfolio

Tinctures (oil), capsules

Distribution Channels

Online, natural food stores, mass supplement retail chains

Positioning

Reputable natural food and supplement brand with distribution across the U.S., offering low-priced, accessible CBD products whose effects are bolstered by wellness-supporting ingredients

Strengths

Competitive Advantages

Legacy supplement brand with established presence in thousands of brick-and-mortars throughout the U.S.; Trusted brand among both customers and retailers; CBD fits easily and naturally into existing natural supplements sales model and marketing strategies

Core Competencies

CBD is easily paired with other botanicals to tout wellness benefits, and Irwin Botanicals has leveraged understanding of this phenomenon and nutraceuticals market overall to quickly generate sophisticated, tailored products for a variety of consumers, backed by brand name and reputation

Making the most money on

Capsules, tinctures

Doing well

Entered CBD space in late 2018 by offering $1 million worth of free product, giving the company excellent PR traction as well as garnering interest from existing customer base as well as among new users in mainstream

Opportunities

Beneficial trends

Increasing use of natural health food products to supplement or replace OTC or pharmaceutical medications - trends the company has been tapping into effectively for decades.

Niches competitors are missing

Built-in current, mainstream customers (their brand followers) who are interested in treating emotional or physical ailments - or maintaining general wellness - supported by supplements. New CBD consumers who will only purchase from a known entity.

Additional growth opportunities

Extensive network of brick-and-mortar retailers already carry and trust this brand, making Irwin Naturals a likely first-mover in Whole Foods and other mass retail chains beyond The Vitamin Shoppe, once FDA clarity is provided.

Aspirations and Results

Who do they want to be?

Leader in natural healing space across the U.S., utilizing the benefits of CBD in conjunction with other botanicals to promote whole-body health and support this mission

Desire to be known for

Respected and recognized as an effective, safe and quality manufacturer in both the wellness and hemp industries - with product that is available to the masses

Priorities

Maintaining quality and reputation of brand while expanding CBD retail channels and product menu; The company will continue to self-limit where and how it markets and sells product to ensure this – for instance, The Vitamin Shoppe offers Irwin Naturals CBD products only in select states, whereas it offers HempFusion CBD products throughout the U.S., though they are subject to the same regulatory structures.

Chief competitors

CV Sciences, CW Hemp, Garden of Life, Barlean's

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