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Whether you have an existing CBD business or looking for new business opportunities, we’ve brought you the hottest CBD e-commerce trends that will help to rule the CBD industry!
Table of Content
- Why CBD Ecommerce?
- The CBD Industry - Past, Present & Future
- Top CBD Ecommerce Trends 2021
- Tips To Use CBD Ecommerce Trends Effectively
Why CBD Ecommerce?
There is no doubt that CBD is one of the hottest wellness products at the moment. Right after its legalisation in the UK, it has become the most sought-after business due to the attractive profits and ROI it offers. Due to the same reasons, the UK's CBD market is growing and spreading like wildfire. Believe it or not, it is predicted that the CBD market in the UK could touch £1 billion by 2025 and it is expected to make annual sales of $690 million $690 million alone this year. So, as you can see, this is the high time to fuel up your CBD business and combine it with the power of e-commerce. But how? This is what this article is designed for. Here, we will discuss the revolutionary CBD e-commerce trends that will help you take your business to a next level!
The CBD Industry - Past, Present & Future
A few years ago, people barely knew about the use of CBD as a health and wellness product. In fact, hemp and cannabis derivatives were only regarded for recreational purposes. But today, CBD is everywhere. It is one of the hottest health & wellness products that are available in a multitude of forms. From CBD oil, CBD gummies to the cafés selling CBD lattes, Spas offering CBD massages and facials, cosmetic companies launching their CBD lotions and whatnot.
The interesting part is, CBD is not limited to just hypes, its benefits and effects are backed with a multitude of solid researches and studies.
Debuted in 2018, Cannabidiol, or CBD has earned a reputation for being the most useful ingredient of the cannabis plant. And today, with the advancements in science and technology, manufacturers and researchers have found numerous ways to produce and market different types of useful CBD products for demanding customers.
The growing market and the changing demographic is also encouraging business owners to capitalise on this fast-evolving money magnet. To help people start CBD business, we have created this step-by-step guide on 'How to incorporate a CBD business'.
Today, customers are looking for CBD more than any other wellness product — leaving behind acupuncture, meditation, veganism and other related trends. It has even become the most researched wellness trend on Google.
As per the current industry data, CBD had around 125.9% searches year over year in 2017 and now, this percentage has increased to 160.4% in just 2018.
Also, in 2019, there were more than 6.4 million CBD-related searches on Google, which is 7 times more than acupuncture and 3 times higher than meditation. And this number is anticipated to grow higher and higher in the upcoming years.
So, from this data, it is clear that the online CBD market has great potential for entrepreneurs. It is definitely one of the most lucrative industries that can help you thrive in your business. So, if you haven't already, then it is the right time to set your foot in the CBD industry.
And to help you with it, here are some of the hottest CBD Ecommerce trends to take inspiration from!
Top CBD Ecommerce Trends 2021
Although coronavirus has deeply impacted the businesses and a majority of retail categories, surprisingly, CBD isn't one of them.
Recent research published by one of the largest and certified CBD markets in the UK, suggests that over 8 million Britons today are actively purchasing CBD products, surpassing an expenditure of £150m alone in the first four months of 2020. It has pushed the market to set and garner revenues of approximately £450 million over the year. If you compare this data to 2019, you'll find that there is a 50% increase in the growth - which is phenomenal!
CBD is primarily marketed as a wellness product. It is mainly used to deal with stress, anxiety, depression, insomnia and related problems. And with the pandemic prodding customers to be concerned about their health, it makes sense that they are looking into CBD markets more than ever.
The point worth noting here is that this trend is not going to slow down anytime soon. So, the CBD business owners have plenty of room to grow and thrive.
Popular eCommerce platforms are helping cannabis retailers in taking their business online. Top platforms like Square and Shopify are assisting CBD merchants to set up their online store by providing them with access to thousands of stylish themes and other functionalities. When combined with powerful automation platforms and social media marketing services, businesses can start their CBD Ecommerce journey in just a couple of days.
The main reason behind the popularity of Cannabis dispensaries is the highly personalised customer experience they provide. The good thing is, online cannabis retailers are leaving no stone unturned in offering such an experience to their consumers.
They are doing this by adding specific touchpoints on their eCommerce platform. For instance, you can add a pre-recorded review video or even an introductory video to connect with your customers. Meanwhile, you can add functionalities like filters, guides, blogs to help customers select the right products. Not just that, some business owners are even utilising artificial intelligence to create a "Dispensary-like" environment, where customers can share their concern and get product recommendations in return.
All of it requires a solid omnichannel strategy. CBD e-tailers should collect, optimize and incorporate their customer data across their communication channels in order to provide top-notch personalisation. These channels include SMS, email, push notification, and so on.
Cannabis products are not only beneficial for us humans, but they are equally great for pets. There are several studies that suggest that CBD offers numerous health benefits for pets.
According to Cision, the UK's CBD pet market is expected to reach $399 million by the end of 2027. As a result, CBD retailers are incorporating a special range for their furry customers as well.
Tips To Use CBD Ecommerce Trends Effectively
Here is the universal fact, CBD isn't merely an overrated market product, but it has become a great part of today's lifestyle. If you're planning to start your online CBD business from scratch, then don't forget to follow the below tips.
The success of your CBD business depends largely on the eCommerce platform you select. So, don't just look out for the best suppliers, select the best platforms as well.
The right eCommerce platform will help you set up your business effortlessly and also help in driving huge traffic to your site by providing enhanced customer experience and advanced functionalities.
Talking about such platforms, Shopify, Magneto and BigCommerce are some of the most reliable platforms you can choose from. All you need to do is, hire a reputed and professional eCommerce agency that can design the best online store for you.
By utilising marketing automation, you can ensure a better customer retention rate and set your marketing objectives in the right direction while saving a lot on operational cost and time.
Another advantage of using market automation is that it helps in offering highly personalised experience to your customers. Further, you can also increase your outreach and brand visibility.
Although less than before, there are still some customers who think of CBD as a shady or illegal product. To change such a mentality and to introduce your CBD products to your potential customers, you must use social media channels such as Instagram, Facebook, YouTube and Twitter. On these platforms, you can educate your customers and introduce them to the amazing advantages and health benefits of CBD.
Apart from it, you can also invest in paid ads on these platforms to increase your conversions.
As you can see, CBD is one the most thriving industries of the present and it definitely has a bright and shining future. For cannabis retailers, it is no less than a money magnet. So, whether you're an offline cannabis merchant or someone planning to start a CBD Ecommerce store from scratch, it is the right time to do so. All you need is the right eCommerce agency like RVS Media. We are the most trusted and experienced eCommerce agency in the UK. We understand the ins and outs of the CBD market and thus, we can help you set up your online CBD business in the way you've always wanted.
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