After the 2018 Farm Bill was approved, the hemp-based cannabidiol (CBD) business has been booming with hundreds of products. It is now becoming more important for companies to stand out from the competition, and Charlotte’s Web Hemp (CNQ: CWEB) is making sure it does. This Colorado-based company is getting to potential new customers by opening a CBD Swap pop-up in Miami with the intention of promoting not only its products, but also to educate consumers about hemp and how it can improve one’s quality of life. Charlotte’s Web has been a leader in the CBD sector with hemp-based products, and this campaign comes as a physical extension of the “Trust the Earth” campaign that was launched in 2019.
From now until February 1, Charlotte’s Web invites any consumers to bring any bottles purchased – maybe as a curiosity or that was perhaps received as a gift from a loved one, but which has sat unopened due to doubt – and exchange them for another product. Brand representatives on-site will be sharing knowledge and discussing all benefits found in this plant and the possible health benefits it might bring. For those consumers that participate and take a product to swap, a bottle of the brand’s original CBD tincture will be given.
According to Reed Damon, vice president of Charlotte’s Web’s marketing department, “The explosion of CBD competitors brings along a wide gamut of quality and consumer confusion. A lot of people were probably gifted CBD over the holidays. We want to give consumers the opportunity to learn about what makes high-quality hemp extract and the ability to turn what they were gifted into a Charlotte’s Web product,”
Damon added that this a second phase of a marketing campaign in an effort to address the increasing competition in a market that continues to grow. This is an industry projected to generate around $24 billion in revenue by 2025, and so far, there are over 3,500 different CBD-brands operating in the industry.