In terms of customer acquisition, 2020 was a groundbreaking year for the CBD industry: As consumers looked for ways to cope with anxiety, sleep troubles and more amid the stress of the pandemic, plenty turned to CBD—many for the first time.
According to High Yield Insights, one in four CBD users entered the category within a six-month span between spring and fall 2020, totaling about 9 million new users. Experienced consumers branched out during this time, too, with one in three longer-term CBD users (an estimated 13.4 million adults) trying at least one new product format during this time.
Even after the pandemic, experts predict further category growth on the horizon. According to research from BDS Analytics, cannabinoid product sales will reach a forecasted $45 billion by 2024, with CBD-infused products likely to expand across CPG categories.
This influx of new customers offers retailers a great opportunity to introduce their shoppers to new products they’ll love. Still, approachability is key to driving sales driving sales within the CBD category as a whole. Fortunately, familiar product formats can make a world of difference in recruiting and retaining an engaged consumer base.
Mainstream formats make the sale
According to Technomic’s Q4 2020 C-Store Consumer Marketbrief, two of the most common reasons consumers cite as deterrents to purchasing CBD are concerns about safety and a lack of knowledge about it in general.
For this reason, offering CBD in familiar formats can be an incredibly lucrative strategy for retailers looking to expand sales. Among other common goods, including topical creams, baked goods and candies, beverages continue to be a favorite among new and seasoned CBD consumers alike.
CBD-infused water, for example, is convenience-stores shoppers’ No. 1 favorite CBD product, with 56% of c-store consumers who have used CBD saying they consume it monthly and 41% saying they consume it weekly. Other beverages rank high among consumers’ favorite CBD offerings, too, including adult beverages, soft drinks and energy drinks, according to Technomic’s Q4 2020 C-Store Consumer Marketbrief.
Amid the pandemic, ready-to-drink options may have an advantage over dispensed or made-to-order CBD-infused beverages, as consumers continue to indicate a preference for the convenience and cleanliness of grab-and-go offerings.
In addition to offering approachable products in familiar formats, working with trustworthy manufacturers is crucial for retailers looking to recruit and retain new consumers into the category. In-store marketing is key to communicating quality and to educating shoppers; Technomic’s Q4 2020 C-Store Consumer Marketbrief recommends that c-store retailers invest in educating consumers about the benefits, safety and quality of their CBD offerings to help assuage any concerns borne out of a lack of experience or knowledge.
To deliver on convenience, familiarity and approachability in one fell swoop, retailers can turn to Canopy Growth, an industry leader in CBD. Canopy’s first CBD-infused sparkling water, Quatreau, is available in four refreshing flavors: passion fruit + guava, blueberry + acai, cucumber + mint and ginger + lime.
Quatreau is a ready-to-drink, zero-sugar, CBD-infused sparkling water that appeals to new and experienced CBD consumers alike. As an industry leader in the CBD category, Canopy Growth is a name that c-stores—and their shoppers—can trust.
To learn more about how Quatreau CBD-Infused Sparkling Water can help retailers expand sales and recruit loyal customers, visit www.canopygrowth.com.
This post is sponsored by Canopy Growth