About Direct CBD Online and Martha Stewart
Direct CBD Online is one of, if not the most prominent online marketplaces to buy and browse for different CBD products. It has over 100 different partnered brands and sells everything from actual CBD oils to CBD Bath Bombs. The company’s recent partnership with Martha Stewart’s new brand of CBD could be their most significant yet. Martha Stewart CBD will be a specific brand under the company Canopy Growth Corporations, which specializes in CBD and a wider variety of Marijuana and Marijuana related products. However, Martha Stewart’s specific brand could open the CBD market to an entirely different type of consumer that would not have otherwise bought a CBD product. In fact, Martha Stewart CBD is projected by the Canopy CEO to reach as high as $600 million in annual sales.
This could be attributed to two different possible factors. The first, of course, would be the overall Martha Stewart brand, which is well established in cookware, home goods, and many other product lines. Her style of artisan products extends to her CBD line, which will feature soft gels, oils, and edible gummies. These gummies will come in distinct flavors such as kumquat and huckleberry. The second major element would be the possible growth of the market due to Martha Stewart’s general client base. Especially considering that despite the fact that 86% of Americans are aware of CBD products, only 18% have tried it. The CBD market still has more room to grow, especially with the rise of ecommerce platforms such as Direct CBD Online.
Ecommerce and CBD
With brick and mortar CBD storefront locations closing and reporting lower sales as a result, CBD sales online have grown. In fact, CBD companies that have focused on online sales have outpaced sales coming from physical storefronts. This also comes with the still quality growth of the overall industry in 2020. While overall sales of CBD are growing nearly 50% slower in 2020 than they were in 2019, the industry is in fact still growing. The market is still on pace to be 14% larger in 2020 than it was in 2019 despite the closures of physical storefronts. Considering there are over 3,000 different brands for CBD currently on the market, the growth for the future could be even larger. The projections for the future have the CBD industry reaching $10 billion in annual sales in the US alone by 2023.
The pandemic may have actually been a slight benefit for the CBD market as a whole. With the anxiety relief and pain relief that CBD is used for, a new industry report shows that 39% of all CBD users have been using more of these products in 2020 due to pandemic-related anxiety.
The CBD industry has seen incredible growth over the past few years. The market’s ability to transition so seamlessly to focus more on online sales has helped it maintain high revenue despite the pandemic. The CBD market’s growth is showing great potential partly due to a marketplace as large as Direct CBD Online hosting over 100 different brands by itself. With major public figures like Martha Stewart coming out with their own products — meant to appeal to an entirely new market of consumers outside of the normal CBD buyer — the future for CBD seems to be incredibly bright. CBD ecommerce could help revolutionize the industry to make it more available for millions of buyers both new and old.
About the Author
Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.