CBD Sales Projection Of $2.1 Billion In 2020 Must Be Re-Thought After Coronavirus Pandemic
Prior to the coronavirus pandemic, Forbes had quoted a projection of $2.1 billion for CBD consumer retail sales in 2020 from Hemp Business Journal. It also said that $450 million of those sales would come from hemp-based sources. But the coronavirus pandemic has thrown all retail sales history overboard, including CBD. It’s a whole new world now.
The CBD market has drawn intense interest from media companies. stockmarketpress.com features specialized coverage of CBD related stocks such as CBD Unlimited, Inc. (OTC PINK: EDXC), Canopy Growth Corp. (NYSE: CGC), New Age Beverages Corp. (NASDAQ: NBEV), GW Pharmaceuticals PLC (NASDAQ: GWPH), Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT). Aurora Cannabis Inc. (NYSE:ACB) (TSX: ACB), Supreme Cannabis Co. (OTC: SPRWF) and OrganiGram Holdings Inc. (NASDAQ: OGI).
CBD sales projection of $2.1 billion in 2020 must be re-thought after coronavirus pandemic
Short term, the retail environment for CBD may be interrupted — strong in some markets, but perhaps less growth in others. Prior to the crisis, CBD was on a roll internationally. But now the economy has temporarily been stopped and consumers have other financial concerns new to everyone.
Long term, CBD appears to be in a position to regain its footing and excel in the future. All signs were pointing to massive CBD growth in the future at domestically and overseas. CBD companies were sourcing and acquiring subsidiaries for platforms and sales of CBD overseas. That will still happen, but perhaps not as quickly as first projected. CBD sales projection of $2.1 billion in 2020 must be re-thought after coronavirus pandemic. CBD sales projection of $2.1 billion in 2020 must be re-thought after coronavirus pandemic.
CBD Unlimited, Inc. (OTC PINK: EDXC) Reports $1+ Million Record Volume In Q2, Generates Accelerated Growth Curve Year-Over-Year
CBD Unlimited, Inc. (OTC PINK: EDXC) is growing because it remains aggressive in its omni-channel marketing, July introduction of revamped packaging for a topical line and continued acquisitions of other related companies, such as New York-based brand builder Kush, Inc. It recently reported $1+ Million record volume for its second quarter ended March 31, reflecting an accelerated growth curve year-over-year. It recorded an order of $1 million and recognized it in this quarter. In an updated interview with NASDAQ MarketSite reporter Jane King, CBD Unlimited, Inc.’s (OTC PINK: EDXC) Todd Davis, CEO, said the firm is forecast to hit its goal of placement in 20,000 stores roughly two-five months ahead of its year-end target. The interview can be seen and heard on YouTube.
CBD Unlimited, Inc. (OTC PINK: EDXC) Product Placement In 20,000 Stores Ahead Of Schedule
CBD Unlimited, Inc. (OTC PINK: EDXC) finished last year with product placement in some 5,600 stores. The goal for the end of this year is 20,000 stores. Todd Davis, CEO of CBD Unlimited, Inc. (OTC PINK: EDXC) in the interview seen on YouTube says the company is ahead of schedule. He said, “We’re on about 6,000 shelves now and will hit the 20,000 mark earlier than we thought. We’re on track to be getting there from two months to five months early.” He was referring to a corporate goal of reaching the 20,000 store mark by the end of this year.
CBD Unlimited, Inc. (OTC PINK: EDXC) $1+ Million Record Volume In Q2
CBD Unlimited, Inc. (OTC PINK: EDXC) announced it generated $1+ Million in record sales during the second quarter ending March 31, 2020. It said that the company had landed and recognized a $1 million deal in the quarter.
That performance reflects an “accelerated growth curve year-over-year,” the company announced. Davis of CBD Unlimited, Inc. (OTC PINK: EDXC) said in the NASDAQ MarketSite interview on YouTube, “We’re seeing a lot of the natural food stores, grocery chains, big box pharmacies reordering and stocking up a little bit more aggressively than they were in the fourth quarter of last year. Now we’re starting to see the restock flow, the reorder flow, and those are really good indicators for the industry.”
During the second quarter, CBD Unlimited, Inc. (OTC PINK: EDXC) beside acquiring Kush, Inc., and delivering $1+ million in sales, strengthened its Board by adding two new members: Dr. Daniel S. Brandwein, D.P.M., F.A.C.F.A.S., and Peter Governale, an alcohol/beverage marketing expert. It also launched its first phase of product testing for its new line of Equine CBD product, TrailRMix™, and introduced at ECRM 2020 its new Value-line, along with CBD-infused chocolates and honey sticks.
CBD Unlimited (OTC PINK: EDXC) Products Rich In Phyto-Cannabinoids And Terpenoids
CBD Unlimited (OTC PINK: EDXC) develops and distributes all-natural CBD products derived from hemp. Its portfolio of products includes oils, capsules, topical and pet products. Phyto-Bites are soft chews for animal use designed to reduce inflammation, pain and separation-anxiety. It also has CBD products formulated for humans. The company’s CBD hemp product has premium genetics and superior quality. The extracts in its products are rich in phyto-cannabinoids and terpenoids that are non-psychoactive.
CBD Unlimited, Inc. (OTC PINK: EDXC) ensures that its CBD product is monitored every step of the way: from U.S. hemp growing, processing and marketing. The consumer can be confident of the brand and investors in the company can be assured of its attention to controlling product quality, producing CBD products from hemp sourced and grown in Colorado and Kentucky under USDA and state regulations.
Source: Stock Market Press
Join Stock Market Press’ newsletter for the latest in IPO, market commentary and company profiles.
Stock Market Press is a financial news company that delivers up to date stock news, introduces private and public companies to a wide audience of investors, consumers, journalists and the general public via social media and a rapidly expanding network.
Stock Market Press
110 Wall St.
New York, NY 10005 email@example.com Safe Harbor Statement:
Statements in this news release may be ”forward-looking statements.” Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Stock Market Press undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
See Stock Market Press disclaimer: https://stockmarketpress.com/disclaimer/ SOURCE: Stock Market Press