Why retailers and bars are wise to offer CBD
Jan 31 2020
CBD is something I am truly fascinated with at the moment. It’s not often a new product enters the industry that has the ability to completely revolutionise it, but when it comes to CBD, I feel like this is just the beginning. Hailed for having a range of health and wellbeing benefits, more and more people are shaking off stigmas and gravitating towards CBD and its wellbeing properties than ever before, and I can see why.
It is those stigmas though, that are potentially holding CBD back. Especially if retail owners and restaurant managers do not fully understand the product and its properties, they will be less inclined to stock it and therefore limit its availability on the market.
In this article, I look at why retailers and bars would be wise to consider introducing CBD to their menu or product line.
Appeal to a new crowd
Offering CBD products is a fantastic way to draw in a new crowd and show your willingness to move with the times. As CBD mostly lives in products like oils, pre-packaged food and drinks and cosmetic products, it’s yet to really hit the ‘social’ scene. However, the bars, cafés and restaurants that do add it to the menu are sure to find that a new market of people may suddenly come knocking.
For those who are interested in both CBD, but also spending their time socially, being able to access CBD in a social setting is great. Bringing it out of homes and into the public not only mean that more people can enjoy its health benefits socially, but people may also be more inclined to give it a try and see how it can help them.
And, it’s not just millennials that are CBD enthusiasts. Due to the vast range of positive effects people believe it to have, it’s been drawing in people of all ages. So, although many people can associate CBD with a younger market, due to its potential for positive effects, people of all ages are trying it.
Offer a new level of personalisation
Adding CBD drinks to the menu offers a new level of personalisation. As previously mentioned, one of the major positives of offering bespoke experiences is that it entices new customers through the door. If you make it so every dish on your menu can be made vegan, you are more likely to appeal to those with a plant-based diet. If you make it so you offer sugar-free drinks, you’ll find a more health-conscious clientele are drawn to your door.
I believe that soon, this will be no different than offering CBD. As more products and more options are requested by consumers, it is our duty to fulfil them. And although there is currently a large market for CBD products online and in health stores, it’s already starting to tip into the main retail space. Those who cross over sooner are sure to see consumers appreciate having the option (even if they don’t take it up).
Keep up with trends
Finally, retailers, restaurants and bars who are constantly adapting to new trends are likely to bring in new audiences or gain a more loyal following. After all, this industry is an ever-changing one, and sometimes it can be a case of keep up or get left behind. As we continue to see CBD emerging throughout a range of markets (health and fitness, wellbeing and hospitality to name a few), brands should be paying attention and trying to latch on to this trend.
If consumer interest in the product continues to rise as it has (and I suspect it will, especially if reports come out backing up the positive effects many rumour it to have) then we should be fulfilling consumer desires and providing the product.
I’m really excited to continue learning about CBD and to see how it is going to change the market over the coming years and I hope to see it pop up in more social spaces soon.