- CVS to Sell CBD Products in 800 Stores in 8 States
- Eric Sandy: The Cannabis Conference team set its sights on Las Vegas after two years in Oakland, Calif. What was behind that decision?
- ES: The Cannabis Conference keynote selections speak to several important themes: the emerging beverage market, the impact of science on cannabis sales and the globalization of the industry. What do those topics say about where the market is going?
- ES: You’ve also added the All-Access pass, which gets things started on Monday and provides attendees with a few bonuses. Can you describe the plan behind adding that?
- ES: Let’s go back to the dispensary track: Why did the team add that this year?
- ES: Can you speak to the overall speaker lineup, the quality of industry leaders that you’re bringing to Las Vegas?
- Why Drugstore Giants CVS, Walgreens, and Rite Aid are Cashing In on CBD
- Why Drugstore Chains are Selling CBD
- What Kind of CBD Products Will You Find?
- Where Will CVS, Walgreens, and Rite Aid Sell CBD Products?
- Rite Aid
- What to Expect in the Future?
- CVS Stores Start Carrying CBD? [What You Need to Know]
- Jumping on the CBD Bandwagon
- Elevate CBD
- Social CBD
- Sagely Naturals
- Final Thoughts
- 9 Major Retailers That Are Selling CBD Products
- CBD has become the hottest thing since sliced bread
- These nine retailers have jumped on the CBD bandwagon
- Health and wellness retailers
- Apparel and accessories retailers
- CVS stores in 8 states now carry CBD products | by Angelique Moss
- FDA slow to regulate
- CVS takes the initiative
- CBD companies strike deals with CVS
- The mainstreaming of CBD has truly begun
CVS to Sell CBD Products in 800 Stores in 8 States
CVS Pharmacy announced Wednesday that it will begin selling hemp-derived CBD products in eight states.
The national drug store chain will be marketing the topical cannabidiol products, such as creams, sprays and roll-ons, as “an alternative source of relief,” CVS said in a statement to NBC News.
CVS will also be partnering with a company to test and verify the quality of the CBD topicals sold in its drug stores.
“We are carrying hemp-derived CBD products in select states to help meet consumer demand for alternative care options,” said CVS Health Spokesperson, Mike DeAngelis.
legalize medical marijuna, former NFL players have a message for the league’s top brass: stop punishing players for using cannabis.” data-reactid=”15″>
legalize medical marijuna, former NFL players have a message for the league’s top brass: stop punishing players for using cannabis.” data-reactid=”15″>As more states legalize medical marijuna, former NFL players have a message for the league’s top brass: stop punishing players for using cannabis.
Eugene Monroe, former offensive tackle for the Baltimore Ravens, told Yahoo Finance. “This is men's lives that you have decision to make a huge impact on. There are players suffering.
”” data-reactid=”16″>“This isn't a joke,” Eugene Monroe, former offensive tackle for the Baltimore Ravens, told Yahoo Finance. “This is men's lives that you have decision to make a huge impact on.
There are players suffering.”
dropped by the Ravens after making his public stance — is pushing the NFL to reform its cannabis policy in partnership with prominent physicians who agree that the league’s no tolerance rule is doing players more harm than good.
” data-reactid=”17″>Monroe — the first active NFL player to openly advocate for the use of medical marijuana, and dropped by the Ravens after making his public stance — is pushing the NFL to reform its cannabis policy in partnership with prominent physicians who agree that the league’s no tolerance rule is doing players more harm than good.
dropped by the Ravens after making his public stance — is pushing the NFL to reform its cannabis policy in partnership with prominent physicians who agree that the league’s no tolerance rule is doing players more harm than good.
Connecticut lawmakers are poised to cast the first vote of the legislative session on a bill that could legalize recreational marijuana in Connecticut.
The General Law Committee is scheduled to vote Monday on legislation establishing a new Cannabis Control Commission within the Department of Consumer Protection. It would regulate the industry, issue licenses and study outstanding issues, such as whether consumers should be able to grow their own marijuana.
A year of planning is coming to fruition as Cannabis Conference 2019 will take place at the Westgate Las Vegas Resort & Casino April 1-3. The editorial and sales teams behind Cannabis Business Times and Cannabis Dispensary have worked with an all-star conference advisory board to bring more than 90 world-class speakers to the show—and to sell out 70,000 square feet of expo floor space.
Full registration details are available here; the last day for online registration is March 31. Walk-up registration will be available on-site, beginning at 8 a.m. April 1.
Here, Group Publisher Jim Gilbride and Editorial Director Noelle Skodzinski talk about the plans that went into this year’s show—how they built on two years of success at earlier shows and how they intend to capitalize on their work in the pages of CBT and CD to bring world-class education to Las Vegas this year.
Eric Sandy: The Cannabis Conference team set its sights on Las Vegas after two years in Oakland, Calif. What was behind that decision?
Jim Gilbride: Las Vegas is the convention capital of the country. It’s easy to get to, and it’s affordable. It’s in a recreational-legalized state.
It just made sense for us to move from more of an expensive, hard-to-get-to location to an easy-to-get-to convention location.
Our attendees asked us to move somewhere where it’s more accessible, and we’re listening by moving the conference to Las Vegas.
ES: The Cannabis Conference keynote selections speak to several important themes: the emerging beverage market, the impact of science on cannabis sales and the globalization of the industry. What do those topics say about where the market is going?
Noelle Skodzinski: The reality of it is the cannabis industry, while seeing astronomical growth, is still in its infancy. This industry continues to touch many different industries around it, including beverages and edibles. Those are massive industries worldwide.
And cannabis, in general, is becoming a global marketplace, as more companies begin to legalize medical and adult-use marijuana, and cannabis corporations expand their reach into emerging global markets. Everybody’s trying to get in, and everybody’s trying to carve out their niche in the market.
Plant-touching businesses need to be informed about these industry developments as they try to grow their businesses and customer bases.
ES: You’ve also added the All-Access pass, which gets things started on Monday and provides attendees with a few bonuses. Can you describe the plan behind adding that?
JG: First, we wanted to provide more value to folks who wanted some additional education at the beginning of the conference.
The trade show floor opens with a cocktail reception the evening of the first day, but we have a lot of cannabis professionals who come in that morning and they want to get the day started early.
So, we honed in on some very specific topics for actual face-to-face education sessions—lessons on expanding or franchising your business [and] extraction cost analyses, among others.
In addition, since we have supplemented our cultivation tracks with new dispensary education tracks , in addition to extraction sessions, there are far more educational sessions people can choose from this year.
Last year, the biggest complaint we received was that people wanted to attend two sessions that were being held simultaneously, and were forced to choose just one.
It is a testament to the strength of the program, but obviously we want to address any concerns attendees have; so, this year, we are offering video recordings of all the sessions as part of the All-Access pass, so people have the opportunity to access any sessions they aren’t able to attend on site
ES: Let’s go back to the dispensary track: Why did the team add that this year?
JG: It only made sense to educate and offer networking opportunities to plant-touching businesses as a whole.
Not only do you have vertically integrated business that operate both cultivation and retail, but Cannabis Dispensary serves businesses that solely operate retail storefronts and delivery businesses.
We’re working to educate the entire supply chain, and adding retail-focused sessions to our annual conference was the perfect move to better serve our audiences of cultivation and retail businesses. We’re looking forward to meeting our retail audience in Vegas.
ES: Can you speak to the overall speaker lineup, the quality of industry leaders that you’re bringing to Las Vegas?
NS: We’ve brought together 90-plus speakers—some of the brightest minds in the marketplace. It is the best educational platform we’ve brought to market to date for serious plant-touching businesses. It is a place to not only be educated in the sessions, but [to also explore] a very honed-in and specific sold-out expo floor.
People can take what they learn in the session rooms and apply it to conversations they have with exhibitors, who are all there to help advance cannabis cultivation and dispensary businesses. It marries the two.
It’s all serious business: how to move your plant-touching business forward and how to meet the challenges and opportunities that are coming in this burgeoning market.
JG: We’ve invested a lot in the education of the cannabis industry.
The whole purpose of our business, whether it’s [the] conference or our magazines, websites, webinars, what have you, is to educate and help plant-touching businesses navigate this competitive industry.
That is our mission, and we invest a whole heck of lot in that area. That shows in our education platform and it shows in a honed-in expo floor that is there, ready, to help attendees.
Lawmakers contemplated several cannabis issues during New Mexico’s two-month legislative session this year, although ultimately an adult-use legalization effort stalled in committee. The bills that did make it to the governor’s desk include legislation addressing decriminalization, medical marijuana expansion and industrial hemp.
The state’s 2019 legislative session ran from Jan. 15 through March 16, and lawmakers approved:
- SB 323 to decrease marijuana penalties,
- SB 406 to make changes to the medical marijuana program,
- SB 204 to allow medical marijuana in schools and
- HB 581 to address hemp manufacturing in the state.
The decriminalization bill reduces first-time penalties for up to half an ounce of marijuana possession from 15 days in jail and up to a $1,000 fine to only a $50 fine.
“Obviously, that’s the big win because folks were looking at jail time for possession of the amount they decriminalized,” said David Boyer, legislative analyst for the Marijuana Policy Project (MPP).
“We’re waiting on the governor to sign it, but Michelle Lujan Grisham is for legalization, so I don’t think this is going to cause too much heartburn for her. I expect she’ll sign it and let it go into law.
The medical marijuana legislation adds PTSD, chronic pain and Lou Gehrig’s disease, among others, to the state’s list of qualifying conditions, as well as establishes protections that prohibit employers from discriminating against patients in the hiring process.
Lawmakers also passed a measure that allows medical marijuana patients to renew their registry cards every three years instead of annually, as is now required. The legislation also creates medical marijuana reciprocity for visitors from other states where it is legal; the Department of Health must adopt rules for the reciprocity program by Dec. 20.
In addition, the passage of SB 204 will allow certified students to use medical marijuana at public schools, excluding the use of inhaled or smoked cannabis.
The industrial hemp measure tees up the commercial production of hemp and hemp extracts in compliance with the Farm Bill.
“Other states are doing this that don’t have any kind of medical marijuana because [hemp is] federally legal now, but it’s definitely great for businesses and patients that can benefit from hemp and CBD,” Boyer said.
Gov. Michelle Lujan Grisham must sign the bills into law by April 5, and the legislation will then go into effect June 14.
While legislation to legalize adult-use cannabis advanced this year, it ultimately stalled in the Senate.
“It passed one committee, but the chair of the Senate Finance Committee didn’t bring it up to a vote, so it didn’t get the opportunity to vote on it,” Boyer said. “Usually, they’ll do that if they don’t think the votes are there or the chair themselves is not partial to that legislation.”
The debate is far from over, though, as Grisham has said that she will add the issue to the agenda of the 2020 legislative session.
“The governor did say a couple days ago that she wants to make that another priority next session, in the 30-day session … in 2020,” Boyer said. “So, it’s not the last we’ll see of the legalization bill, for sure.”
For an organization MPP, shorter legislative sessions New Mexico’s can take more preparation to get cannabis policy reform efforts to pass, Boyer said.
“We definitely have to prioritize the shorter sessions and make sure we’re up to date on what’s going on there,” he said. “There are only so many staffers we have, so we have to plan things correctly so we’re not missing any sessions.
Then there’s the political reality [that] in the short sessions, … it’s harder to get things brought up [when there] are either more important [issues] than legalization or [issues that] have a better chance of passage.
Politicians only have so much attention, and we’re all vying for that and to get them to support marijuana policy reform, but sometimes that’s a hard sell when there’s an opioid crisis in the state and they want to focus on that, or they just see as marijuana as adding to that crisis, which we obviously disagree with and think the opposite.”
Overall, though, Boyer sees progress in New Mexico, and expects the momentum to continue.
“I think with the progress with [decriminalization], it’s all about adult-use now,” he said. “Of course, [it’s important to tinker with] and continually [improve] upon the medical marijuana program, which, thankfully, was done some this session. But at this point, it’s time for all adults 21 and up to have access to a substance that’s objectively safer than alcohol.”
Why Drugstore Giants CVS, Walgreens, and Rite Aid are Cashing In on CBD
The next time you stroll down the brightly lit aisles of your local CVS, Walgreens, or Rite Aid, you might notice a few product labels sporting a friendly green hemp plant and three bold letters that read: CBD.
As cannabis continues to interject itself into the global health and wellness market, some of the country's largest pharmacy chains have suddenly come down with the contagious CBD fever.
The widespread adoption of cannabidiol (CBD) products by national drugstore chains happened swiftly, almost as if it were synchronized. In the span of a single month, CVS, Walgreens, and Rite Aid all announced that CBD-infused products would be available at select locations.
CVS was the first drugstore franchise to offer CBD-infused creams and salves in mid-March 2019, followed by Walgreens rolling out products in nearly 1,500 stores across nine states in March 28, 2019. Rite Aid trailed close behind its two competitors, as CBD products hit shelves in more than 200 Oregon and Washington storefronts within the following month.
Why Drugstore Chains are Selling CBD
The pharmacy chains' recent decision to start selling CBD-infused products follows the growing number of nationally recognized storefronts offering this non-intoxicating cannabinoid to customers.
The CBD wave has already washed over the shores of many renowned businesses, from the aisles of the organic grocery chain Whole Foods to having its very own product category on Neiman Marcus' website.
So why have CVS, Walgreens, and Rite Aid suddenly all started to succumb to the CBD craze at the same time? A large part of that answer, as per usual in these free-market decisions, appears to be customer demand. Joe Goode, a spokesperson for CVS Health, suggested that the wants and needs of consumers were a compelling reason to enter the CBD market.
“CBD is gaining popularity among consumers, particularly those looking for alternative care products,” Goode said in a statement to Weedmaps News.
Illinois-based Walgreens, the second-largest U.S. drugstore chain with more than 9,500 stores, followed its larger competitor, CVS, into carrying cannabidiol (CBD) products. Walgreens is testing demand in nine states. (Photo by Mike Mozart/Flickr)
Potential revenue ly also played a significant role in the trio's decision to stock CBD-infused goods.
The burgeoning market for CBD products is still largely untapped, but is already growing at a rapid rate, expected to exceed $16 billion by 2025, according to an analysis by Cowen & Co. published on Feb. 25, 2019.
That same report included a consumer survey involving 2,500 participants, which found that 6.9% of adults are already using CBD as a supplement.
Combine that with the potential of the natural and organic personal care products, which was valued at more than $12 billion in 2017 and is expected to reach $29.5 billion by 2028, according to Persistence Market Research, and you've got yourself a perfect recipe for revenue.
What Kind of CBD Products Will You Find?
Aside from offering a diverse spectrum of prescription medication, the drugstore franchises are also known for having expansive aisles stocked with health and wellness products.
Some of the CBD-infused products that these drugstore chains will offer are similar to those that you'd already expect to find – including creams, topicals, ointments, and sprays.
The primary difference is the addition of hemp-derived CBD, an ingredient which is intended to enhance the therapeutic properties of these naturally soothing products.
“Anecdotally, we've heard from our customers that these products have helped with pain relief for arthritis and other ailments, and we believe consumers will be looking for these products as part of their health offering,” Goode said in the statement.
You won't find CBD-infused products in every product of your local CVS, Walgreen, or Rite Aid. Initially, at least, the scope of these CBD products will be limited to health and wellness products. For the time being, these pharmacy chains will not sell CBD products in the form of oils, tinctures, or other ingestibles.
While hemp-derived CBD was legalized under the Farm Bill on Dec. 20, 2018, the Food and Drug Administration (FDA) has stated that, until regulations are put into place, it's technically illegal to add the non-intoxicating cannabinoid to food, drinks, and dietary supplements.
Where Will CVS, Walgreens, and Rite Aid Sell CBD Products?
If you live in one of the following states where CBD products will be sold, here's what you can expect to find on the shelves of each chain:
Select CVS stores are selling CBD-infused creams, sprays, roll-ons, lotions, and salves. Edibles and supplements will not be stocked in the store.
“We are not selling any CBD-containing supplements or food additives. We are working with CBD product manufacturers that are complying with applicable laws and that meet CVS's high standards for quality,” Goode said in the statement.
CBD products will be sold at CVS Pharmacies in the following eight states, as of April 19, 2019:
In nearly 15,000 Walgreens stores across nine states, shoppers will find CBD patches, sprays, and creams in nine states. “The CBD-related items we are planning to carry are non-THC containing topical creams, patches, and sprays.
This product offering is in line with our efforts to provide a wider range of accessible health and wellbeing products and services to best meet the needs and preferences of our customers,” a spokesperson from Walgreens said in a statement to Weedmaps News.
Walgreens will offer CBD products in the following nine states, as of April 19, 2019:
CBD products are sold in more than 200 Rite Aid stores in Oregon and Washington as of April 19, 2019.
What to Expect in the Future?
As the FDA develops regulations for CBD and the stigma surrounding cannabis continues to dissipate, the variety CBD products at CVS, Walgreens, and Rite Aid could increase in the near future.
“We're entering slowly into this new category, and continue to actively monitor the regulatory landscape for CBD products and will expand product availability as appropriate and in compliance with applicable laws,” Goode said in a statement.
Despite the measured and restrictive approach that these nationally recognized convenience chains are taking, the recent string of announcements could indicate a lucrative relationship between CBD and these major drugstore chains. While the new products being offered at these drugstore chains are currently limited to select areas, an expansion into more states might follow as the demand for CBD grows.
Feature image: CVS Health, the largest operator of pharmacies in the U.S., with more than 9,800 locations, was the first of the three major U.S. drugstore chains to announce it is carrying products with cannabidiol (CBD). It has rolled out CBD products in eight states. (Photo by Jordan Lomibao via Unsplash)
CVS Stores Start Carrying CBD? [What You Need to Know]
CVS Health Corporation is one of the world’s largest retail pharmacies and health care companies with over $180 billion in annual revenue. It was only a matter of time before the corporate giant got involved in CBD and it recently announced details of its plans to stock CBD topicals in eight of its American stores.
Jumping on the CBD Bandwagon
Soon after CVS’ announcement, one of its main rivals, Walgreens, also stated its intention to sell CBD products in its stores. This is a sure sign that CBD has entered the mainstream, just a few years after it was dismissed as nothing more than a fad and a novelty item.
Walgreens, CVS is somewhat cautious in its initial foray into the CBD sphere. It has over 10,000 locations in the U.S.
alone, but CBD will only be available from a relatively small percentage of CVS stores in the following eight states: Illinois, Colorado, Alabama, California, Kentucky, Tennessee, Maryland, and Indiana.
It is also important to note that neither edibles nor CBD-derived supplements will be available. However, customers can purchase lotions, roll-ons, sprays, salves, and creams.
In many ways, it is not a surprise that major pharmacies are getting involved in CBD. At the end of 2018, the Farm Bill made it legal for Americans to grow and sell industrial hemp.
Since CBD can be extracted from hemp, it is easier than ever for suppliers to get hold of premium-grade cannabidiol. The CBD market itself could be worth as much as $22 billion within three years.
CVS has joined other renowned health and beauty companies such as DSW, Free People, Authentic Brands Group, Neiman Marcus, and Sephora, who have all become involved in CBD.
Elevate CBD is one of the biggest beneficiaries of the news as the firm’s CBD-infused pain relief cream will be sold in over 1,500 CVS stores.
The cream is full-spectrum, which means it contains several cannabinoids, including CBD, but crucially, it contains less than 0.3% THC, the maximum legal limit.
Each 4oz tub contains 140mg of cannabinoids and is available for $39.99. It is designed for pain relief, and proponents say it does an excellent job of treating their aching muscles and joint pain.
Buyers can choose between two varieties: cooling and warming cream.
Medterra is another big winner, as CVS announced that it would be selling the California-based brand’s topical cooling cream. The cooling cream that will be available in CVS is a combination of CBD and other certified organic ingredients. The brand claims that its cream provides users with a cooling feeling which makes it ideal for sore joints and muscles.
There are well over 20 ingredients in the cream including sunflower seed oil, cetyl alcohol, grapefruit seed extract, xanthan gum, and Arnica flower oil. According to Medterra, the cream contains 99.6% pure CBD. Choose between the 250mg tub for $49.95 or the 750mg tub for $89.95.
Social, are another CBD-based company that has significantly benefited from CVS’s decision to sell CBD topical creams. SocialCBD Muscle Rub 3-ounce cream ($29.99) is designed to provide fast and effective relief for muscle aches and pains.
The product contains a proprietary herbal blend, which is infused with menthol and CBD. Each 3-ounce tube of Social CBD muscle rub cream contains at least 250mg of hemp-derived CBD.
CVS Pharmacy explicitly states on its website that state restrictions apply to Select’s CBD Muscle Rub cream. It is essential to bear this in mind before purchasing this product.
Sagely Naturals, also have several CBD-based products which are available to purchase in select CVS stores and via their website. The CBD-based company was founded in 2015 by Kerrigan Behrens and Kaley Nichol. According to Forbes magazine, Sagely Naturals is the largest female-founded company in the CBD market today.
Working in collaboration with chemists and naturopaths, Sagely Naturals began formulating broad-spectrum CBD-based products that were coupled with potent botanicals.
All of Sagely Naturals’ products are derived from organically-grown, non-GMO hemp, and contain less than 0.0025% THC.
Each product is then quadruple-tested by a third-party laboratory to ensure the highest standard of quality and purity has been achieved.
One of Sagely Naturals products which are available to purchase from CVS is their Relief & Recovery CBD Cream. It is available in a 2fl ounce ($19.99) and a 4fl ounce ($35.99) bottle.
Sagely Naturals Relief & Recovery CBD Cream contains the company’s proprietary blend of plant-based ingredients and broad-spectrum CBD. This topical cream is designed to provide cooling relief and deep nourishment to the skin.
The 2fl ounce bottle contains 25mg CBD, and the 4fl ounce contains 50mg CBD.
CVS also sells Sagely Naturals Calm & Centered Cream too. According to Sagely Naturals, this topical cream is designed to facilitate a sense of wakeful calm.
This topical cream also contains Sagely Naturals proprietary blend of plant-based ingredients and broad-spectrum CBD. Sagely Naturals Calm & Centred Cream also contains essential oils such as lavender, bergamot, and chamomile.
It is available in a 4fl ounce bottle and contains 50mg CBD. Sagely Naturals Calm & Centered Cream 4fl ounce is priced at $35.99.
Also available via select CVS stores and via the CVS website, is Sagely Naturals Relief & Recovery CBD Spray. It comes in a conveniently-sized 2-ounce bottle and is priced at $27.99.
The 2 ounce bottle contains 50mg CBD and is infused with essential oils such as menthol, peppermint, rosemary, and eucalyptus.
According to Sagely Naturals, their Relief & Recovery CBD Spray is a quick-drying pick-me-up for easy use on the go.
Overall, the news that CVS is going to carry CBD products is yet another boon for an industry that appears to have great momentum. Having colossal corporations such as Walgreens and CVS throwing their weight behind CBD will inevitably help the industry move forward.
CVS is a brand that takes pride in its status as a health care heavyweight. In 2014, it was the first national pharmacy to stop selling tobacco products. And its latest venture could provide the seal of approval that the industry desperately needs.
Of course, the impact that CVS and other industry giants may have on smaller independent CBD brands is yet to be seen. For the few companies that actually make it into CVS stores, business will of course be great.
For some of the others, perhaps not so much.
9 Major Retailers That Are Selling CBD Products
The marijuana industry is on fire, and Wall Street has certainly taken notice. Over the past couple of years, pot stocks have run circles around the broad-based S&P 500 in terms of total return, which isn't hard to believe considering that Wall Street estimates call for a quintupling, at minimum, in worldwide cannabis sales through 2029.
But the marijuana industry is far more complex than simply growing plants and selling dried flower to consumers. Rather, there are numerous ancillary businesses and niches within the cannabis space that are thriving above and beyond what we've witnessed as a whole. Perhaps no aspect of the green rush is more exciting than the rise of cannabis derivatives and cannabidiol (CBD).
Image source: Getty Images.
CBD has become the hottest thing since sliced bread
According to estimates from the Brightfield Group, CBD sales — CBD being the nonpsychoactive cannabinoid best known for its perceived medical benefits — are expected to soar from $591 million globally in 2018 to $22 billion worldwide by 2022. For those of you scoring at home, that's a 147% compound annual growth rate.
What Wall Street and investors seem to find most attractive about the rise of CBD is that it may appeal to consumers who might otherwise want nothing to do with the cannabis industry.
Since CBD-based products typically contain no traces of, or minute amounts of, tetrahydrocannabinol (THC), the cannabinoid that gets a user high, consumers on the medical and recreational side of the equation tend to be more willing to try CBD-based products.
Furthermore, businesses benefit from the rise of CBD because it's a considerably higher-margin product than traditional dried cannabis flower. With tobacco smoking rates hitting a more than five-decade low in the U.S., the allure of smoking any product (tobacco or cannabis) is waning.
Instead, a new generation of cannabis users prefer alternative consumption options, including vapes, edibles, topicals, concentrates, and oils, to name a few. All of these higher-margin derivatives can be targeted at a CBD-seeking customer base with little fear of oversupply or pricing pressure.
These nine retailers have jumped on the CBD bandwagon
Just how popular have CBD products become? Well, nine major retailers, both public and private, are now selling CBD-based products. Here's a look at the wide gamut of retailers now carrying CBD oils, topicals, and capsules.
Image source: CVS Health.
Health and wellness retailers
Three of the most prominent health and wellness retailers to jump on the CBD bandwagon were pharmacy operators CVS Health (NYSE:CVS), Walgreens Boosts Alliance (NASDAQ:WBA), and Rite Aid (NYSE:RAD).
CVS Health kicked things off by announcing that it would carry CBD topicals in roughly 800 of its stores spanning eight states in March. Just days later, Walgreens Boots Alliance followed with a corresponding move to carry CBD-containing topicals in nearly 1,500 of its U.S. locations.
Most recently, Rite Aid joined the party, announcing plans to carry CBD products in two states (Washington and Oregon).
Considering that front-end sales for CVS Health, Walgreens, and Rite Aid tend to have very low margins, the introduction of CBD products may slightly boost margins, or at the very least improve foot traffic into their stores.
Beauty retailer Ulta Beauty (NASDAQ:ULTA) is a fourth brand-name retailer carrying CBD-based products.
In mid-March, Ulta announced plans to carry five skin-care products from Cannuka that blend CBD with manuka, a type of honey that's sourced from bees that pollinate Manuka trees.
Ulta is currently able to sell these CBD skin-care products in all but three states (Nebraska, South Dakota, and Idaho) where CBD laws remain very strict.
A fifth major wellness retailer where a consumer can pick up CBD products is GNC Holdings. GNC recently began selling a variety of CBD-infused topical creams of varying strengths.
Known for supplying everything from performance supplements to health and beauty products, GNC's entrance into the CBD space was a logical move designed to appeal to the full spectrum of its customer base.
Image source: Getty Images.
Apparel and accessories retailers
In addition to brand-name health and wellness retailers, four major apparel, accessory, and general retailers are now offering CBD products for sale.
Continuing the running list, Designer Brands (NYSE:DBI) is a sixth major retailer selling CBD creams and balms.
Designer Brands, which is formerly known as DSW, hooked up with Green Growth Brands and its Seventh Sense line of CBD-infused products to test these products in 10 of its stores.
After 74% of the product sold in a 10-week span, Designer Brands decided to expand this partnership to include 96 of its U.S. stores and nearly 55,000 total units of product. Interestingly enough, Green Growth's current CEO used to be Designer Brands' president.
Teen and young-adult-focused retailer Urban Outfitters (NASDAQ:URBN) is a seventh major retailer now selling CBD products.
Urban Outfitters agreed to carry products from CBD for Life (a brand being acquired by iAnthus Capital Holdings in two of its California stores and four of its New York stores as a trial.
Taking into account that younger people tend to have a more favorable view toward cannabis and CBD products than older Americans, the move to carry CBD products by the young-adult-focused Urban Outfitters is a no-brainer.
Along with Designer Brands, privately held luxury retailer Neiman Marcus also moved into the CBD space in mid-January. Neiman announced plans to carry a variety of CBD products at five of its locations, as well as online. Since CBD products tend to be priced at a premium to traditional cannabis flower, it plays perfectly into Neiman's attraction of a more affluent clientele.
A ninth and final “retailer” that I'll include in this list is Simon Property Group (NYSE:SPG).
Although Simon Property Group doesn't directly sell CBD products, as the largest mall operator in America, it's directly responsible for approving or denying what stores goes into its malls.
Recently, Simon Property Group and Green Growth Brands came to an agreement that allows Green Growth to open 108 shops in Simon's malls this year to sell products containing CBD.
Big things may be happening with the marijuana industry, but CBD is where the real excitement lies.
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CVS stores in 8 states now carry CBD products | by Angelique Moss
Jun 11, 2019 · 4 min read(Photo by Mike Mozart via Flickr. CC BY 2.0)
Whether or not the FDA is ready, CVS is forging ahead with plans to sell CBD products in its stores. They began selling CBD products in 8 states in late March.
The move comes at a time when the FDA has intended to clarify regulations but such decisions have been delayed due to multiple factors.
While the initial product selection may be limited, the move by CVS confirms that CBD is truly going mainstream.
FDA slow to regulate
While many companies are planning to offer CBD and CBD-infused products, the FDA has been slow to pass regulations in the wake of the 2018 Farm Bill.
The government shutdown at the beginning of the year left the FDA understaffed. In early March, the head of the FDA resigned leading to additional delays.
In addition, the FDA has been preoccupied with issues relating to e-cigarettes that deliver nicotine.
CVS takes the initiative
Governmental confusion around CBD is high at the moment with even the US Drug Enforcement Administration making claims despite the passage of the 2018 Farm Bill which was supposed to shift oversight to the Food and Drug Administration.
Nevertheless, CVS is going ahead with CBD sales and has “partnered with CBD product manufacturers that are complying with applicable laws and that meet CVS’s high standards for quality.
” Clearly the company’s lawyers have signed off on the move and, given that parent company CVS Health Corp (NYSE:CVS) is public with legal responsibilities to shareholders, it must feel very comfortable forging ahead.
CVS revealed to NBC News that it is following FDA cautions to avoid CBD edibles and dietary supplements. All products being sold are topicals such as roll-ons, creams, and sprays. The company stated that it is offering the products as “an alternative source of relief.
” It also revealed that it is partnering with a third-party testing company to test the products it is stocking. Sales have begun in Alabama, California, Colorado, Illinois, Indiana, Kentucky, Maryland, and Tennessee.
CBD should soon be available in over 800 stores in those states.
CBD companies strike deals with CVS
It is unclear how many CBD producers are represented at this stage but at least two companies have announced their presence in CVS stores. Medterra revealed that CVS is carrying at least one of their products, a topical cooling cream.
Medterra CEO Jey Hartenbach noted that the early placement was a big victory for his company but that the presence of CBD in CVS “really is for the overall industry.
” He also said that Medterra has been very careful about messaging to avoid any risks “not just to us as a company but to the industry as a whole.”
Curaleaf, a wholly owned subsidiary of Curaleaf Holdings Inc (CSE:CURA, OTCMKTS:CURLF), also announced that it has signed a distribution deal with CVS. The company’s stock jumped after the news was shared on an earnings call.
CEO Joseph Lusardi stated that additional deals were in the works with other companies and that Curaleaf has a “number of potentially exciting partnerships in the pipeline.
” CVS is expected to carry Curaleaf hemp lotions and transdermal patches and that they would also be available on the CVS website.
Diamond CBD, a wholly-owned subsidiary of PotNetwork Holdings Inc (OTCMKTS:POTN) also recently announced that it presented its CBD products to CVS Health at an industry gathering. Having already achieved national distribution, a placement at CVS would take their business to another level.
CEO Kevin Hagen has also been operating with an eye to raising industry standards and recently discussed the need for greater transparency in the industry.
He pointed out that “most people are using these products for health reasons of some kind” so transparency is a “necessity for our customer base.”
The mainstreaming of CBD has truly begun
CBD companies, especially those with hemp-derived CBD, have been forging ahead with product distribution and, in some cases, brick and mortar operations of their own. In particular, Green Growth Brands (CSE:GGB, OCT:GGBXF)
is opening numerous stores under its Seventh Sense brand including a large number planned for malls operated by Simon Property Group, the nation’s largest mall operator.
However, most companies of the size of CVS have simply made announcements and are currently researching or developing products for future distribution.
The move by CVS to sell such products in their stores now takes the process of mainstreaming CBD to the next level and sets the stage for more major corporate activity.
For companies with weak brands, the coming wave of corporate involvement in the CBD industry will create many challenges. However, for CBD companies building strong brands those mentioned above, opportunities will abound from placement in chains CVS to possible acquisition by any number of major companies. Looking back, CVS will be seen as setting this next wave in motion.
“,”author”:”Angelique Moss”,”date_published”:”2019-06-11T16:59:19.404Z”,”lead_image_url”:”https://miro.medium.com/max/1200/1*OJMeYxZsSElV8guBsc6QTg.jpeg”,”dek”:null,”next_page_url”:null,”url”:”https://thepolicy.us/cvs-stores-in-8-states-now-carry-cbd-products-6286f7c9be17″,”domain”:”thepolicy.us”,”excerpt”:”CVS stores in 8 states are now selling CBD products despite FDA concerns.”,”word_count”:800,”direction”:”ltr”,”total_pages”:1,”rendered_pages”:1}