CBD has taken the world by storm. Ever since its legalization in the US, it seems like both customers and retailers in the country can’t seem to get enough of CBD-infused products in its various forms. CBD is, of course, already widely available in the market in the form of oils and tinctures, edibles and beverages, and even health supplements, which confirms the large demand for CBD products.
During the MJBizCon in 2020, the audience got a brief glimpse of the possible future of the CBD industry. The conference also included stalls and presentations where guests got to see how CBD can be infused in other lesser-known products to boost their effectiveness. While there were many predictions floating around during the conference, one such prediction caught the attention of seemingly everyone involved in the CBD industry. The prediction came from a highly credible source: Neilson.
According to CBD business experts, if Amazon were to enter the CBD marketplace, we could expect to see the prices of CBD products drop significantly, which happens in any industry where there’s intense competition.
The prediction? Amazon, the ecommerce behemoth, may step into the lucrative CBD space in the not-so-distant future. According to Neilson, Amazon is among a quickly growing number of big-name brands looking to jump into this booming marketplace.
So, what happens if Amazon really did enter the US CBD market? Well, the ecommerce giant would either partner with existing manufacturers to sell CBD products online or could choose to manufacture and sell its own proprietary brand of CBD-infused products. For a company such as Amazon, the possibilities are endless in the CBD space.
But nothing’s happened—yet. According to CBD business experts, if Amazon were to enter the CBD marketplace, we could expect to see the prices of CBD products drop significantly, which happens in any industry where there’s intense competition. This is, of course, going to be good news for consumers of CBD products in both scenarios since they’d get to enjoy a larger variety of products that will be accessible via Amazon at reduced prices, while Amazon will widen its product portfolio.
When a monster-sized player such as Amazon enters the playing field, the game will invariably change. Let the games begin.
–PuraPhy Staff Report