Commercializing 420: CBD space heats up in time for the cannabis “holiday”
20 Apr 2021 --- While the novel “420 holiday” is typically celebrated by recreational cannabis users on this day, cannabidiol (CBD) brands across the industry are not passing up the opportunity to acknowledge the calendar event.
Coinciding with the event, companies have actively rolled out sales promotions as well as product offerings including new CBD formats.
“With regards to 420 marketing strategies, special sales during the event include 20 percent off on all products, special email marketing with buy-one-get-one-free and also general discounts,” Alexej Pikovsky, co-founder and CEO of the European marketplace for cannabis products Alphagreen, tells NutritionInsight.
“Some brands also launched new products on this date. It is definitely a big day in the cannabis industry with a lot of social media, memes and posts shared by brands and promotional campaigns are run.”
Premium Jane product range. (Credit: Premium Jane)While it is clear industry is starting to take note of the mainstream appeal of CBD, there is still ample space for this fledgling category to grow.
A 2019 Innova Market Insights Consumer Survey investigated CBD awareness in the UK, US, Spain, France, Brazil, India, Germany, Mexico, China and Indonesia.
According to the market researcher, only 25 percent of US consumers were “very familiar” with CBD, while 17 percent of global consumers have this level of awareness.
A hotly anticipated day for CBD players
Premium Jane is one such brand ramping up its marketing efforts during 420. The company offers a diverse range of CBD products ranging from oral tinctures and edibles alongside topical products.
As an annual tradition, the brand will be staging a sitewide promotional event headlined by the keystone release of several new hemp extract products.
“For our nationwide customer base, this is actually one of the most anticipated days of the calendar year,” says Premium Jane co-founder Jeff Yauck. “In addition to our annual one-day-only sales and promotions, we’ve got an extra special product release planned this year that we think fans will be over the moon about.”
The company is playing its cards close to its chest regarding specifics of the new product release, with intentions for the release to be a surprise for its subscribers and repeat customers.
“Every year at this time we try and do something a little extra special,” says Yauck. “But this year, we wanted to go all out and offer something brand new and extraordinary.”
The company’s products are made in the US and sourced from a locally grown hemp supply that complies with the 2018 US Farm Bill.
Gummies infused with THC
A poll of 1,087 US residents conducted by Invisibly recently found that while nearly a third of respondents have tried a CBD product, many still do not understand the difference between CBD and the closely related compounds of marijuana, such as psychoactive THC.
Dosist’s Performance Gummies. (Credit: Dosist)But as consumer acceptance develops, wellness brand Dosist is expanding its product portfolio in time for 420 with the launch of its branded Performance Gummies.
Available in California, US, Dosist’s fast-acting, all-natural vegan gummies are designed with clean organic vegan ingredients and natural fruit flavors. They are also made using the company’s Nanoblend “self-microemulsifying” technology, which provides consumers with a faster onset and more consistent experience.
“We spent months deciding between different flavors, textures, effects, dosages and onset speed, working with the best in culinary arts and cannabinoid sciences,” says Jason DeLand, executive chairman and co-founder of Dosist.
The new Dosist gummy collection includes a lineup of cannabis-infused flavors and formulations that cater to each consumer’s preference around flavor, potency and effect.
Dosist’s slumber-promoting gummy type, Sleep, features a 5:1 THC to cannabinol (CBN) ratio in a soothing blackberry lavender flavor. Alongside Sleep is Bliss, featuring 5 mg of THC, available in both Wildberry and Lemon Lime flavors.
Meanwhile, Calm features a 1:10 THC to CBD ratio in Lemon Balm Citrus “to help melt the stress away.” Sleep, Bliss and Calm are all marketed as 100 percent plant-based, all-natural, non-GMO and feature the Nanoblend.
Alphagreen spearheads largest CBD crowdfunding raise
In time for 420, Alphagreen recently launched what it calls the “largest-ever crowdfunding raise” in the space.
The cash injection will be used to grow its e-commerce and digital marketing operations, expand into new global territories, and leverage its expertise to enter the emerging market.
The business has raised £1.5 million (US$2 million) in the last few days. Existing investors include Stockholm-based Enexis AB, US cannabis fund West Creek Investments and angel investors, including Igor and Oleg Tikhturov.
Alphagreen generates revenue from the companies listing their products on its platform. It offers end-to-end e-commerce technology services including SEO and Business Intelligence (data collection; data and market trend analysis).
Chill Mama Betoken CBD Bundle. (Credit: Betoken CBD)The company also holds one of the largest content creation hubs, including over 1,000 top influencers accessing and part of the Alphagreen e-commerce channel.
In the last 12 months, more than five million words of exclusive content have been created. As a result, Alphagreen’s content has become top ranking within Google across the UK and several other European countries including Germany, France, Spain and Italy.
Alphagreen is expecting to grow by another 300 percent in 2021. “We are on track to finish off the year with close to a million pounds in sales and should see a huge jump in 2022,” says Pikovsky.
Gifting CBD on Mother’s Day
As 420 comes two weeks ahead of Mother’s Day, wellness brand Betoken CBD has unveiled its Chill Mama Betoken CBD Bundle.
The bundle includes a jar of Betoken CBD’s signature Hello Mellow capsules and a comfy oversized “Mama” sweatshirt.
“Being a mom is my most important job, but I also know that I have to take care of myself first so that I can be the best mom possible to my children, and the best possible boss while running my business,” Betoken CBD founder Liz Kirby explains.
“Putting together the Chill Mama Bundle is my way of offering that same level of self-care to other moms and female entrepreneurs out there.”
The bundle also takes care of Mother Earth, as its Hello Mellow CBD capsules are packaged in 100 percent recyclable glass jars.
The jar comes with 30 chill pill capsules, each containing 15 mg of Broad Spectrum Hemp, 385 mg of Betoken’s signature proprietary herbal blend consisting of holy basil, skullcap and lemon balm.
The capsules are free from THC and are designed to be taken up to three times daily to help manage anxiety.
By Benjamin Ferrer
