As the world finds itself under lockdown due to the COVID-19 outbreak, the lives of most people have been disrupted in some way. People have changed the way that they work, learn and play to adapt to this disruption.
Schools are closed, sports leagues have been cancelled and many individuals are working from home. People have even changed the way they shop, with more consumers heading online. The world of e-commerce has increased immensely as consumers stock up on goods, and the cannabis industry has not been left behind.
As more people begin to experience insomnia, depression and anxiety, the use of cannabis products offers a natural solution to lowering stress and anxiety levels. Consumers are turning to CBD edibles, beverages, flowers and even CBD self-care products to help them calm down during quarantine. This has led to CBD businesses seeing a rapid growth in sales with increased demand for their products.
A study by Brightfield Group on the period from March 16th-19th has revealed that online CBD sales will see a 39% increase. This shows CBD is becoming more popular in the mainstream as customers flock online to buy CBD products. More people plan to use CBD products during the coming weeks and months as they prefer the use of CBD because of its quick impact and fast, natural calming effects. Shoppers who have used CBD in the past have already stocked up or are planning to stockpile CBD products. In addition, regular users of illegal cannabis who are currently finding it difficult to get supplies from the illegal market are seeking CBD online as an alternative. Cannabis shops across America are reassigning their employees to new duties to handle the high number of online orders. Other stores are hiring more drivers in order to speed up deliveries amidst the coronavirus crisis.
This boom has also been experienced in the entire supply chain, from the raw material to extraction and from labs to production. Suppliers and wholesalers are reporting a surge in orders as more retailers stock up on health and wellness products. The demand is so strong that other companies are now considering infusing their products with CBD. If the lockdown continues for a long time, difficulties may arise in obtaining the raw material.
It is very clear that the current crisis might permanently affect the way consumers purchase CBD products. With more consumers buying their CBD online, it is obvious that businesses need to plan for this change and upturn in the coming future.