CBD Sales To Boom Online During COVID-19 Crisis To Home-Bound Consumers: Re-search; Sun Kissed Industries, Inc. Sees 30% Online Volume Jump
Research from the Brightfield Group finds that online sales of CBD products expectations will boom during the COVID-19 coronavirus ‘lockdown’ with 39% of home-bound CBD consumers saying in a poll taken by researchers March 16-19 that they expected to use more CBD during the crisis. That dovetails with sales results from Sun Kissed Industries, Inc. (OTC: SKDI) which recorded a 30% jump in online sales of Hakuna CBD products since the ‘lockdowns’ began.
The CBD market has drawn intense interest from media companies. stockmarketpress.com features specialized coverage of CBD related stocks such as Sun Kissed Industries, Inc. (OTC: SKDI), 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 To Boom Online During COVID-19 Crisis To Home-Bound Consumers: Research; Sun Kissed Industries, Inc. (OTC: SKDI) Sees 30% Volume Jump
According to a summary by Bethany Gomez, a poll by Brightfield Group found that 39% of CBD consumers planned to use more CBD products during the stay-at-home orders. Further, the survey found that this trend is even more pronounced among Millennials and Gen Z consumers — 49%. It found that this group planned on using even more CBD products in the weeks and months ahead. CBD Sales To Boom Online During COVID-19 Crisis To Home-Bound Consumers: Research; Sun Kissed Industries, Inc. (OTC: SKDI) Sees 30% Online Volume Jump.
CBD Consumers Seek Self-Care CBD Products During Stay-At-Home Orders
Anxiety was the primary ailment from the pandemic reported by 53% of consumers polled in the study. Next were depression and insomnia — driving sales to CBD consumers who are concerned about their own health and well being, the poll found.
“Interestingly, when we analyzed the social media posts involving CBD and the coronavirus, we found that the most common topic was self-care,” Gomez wrote. “With so much of the country in quarantine right now, many are turning to self-care indulgences to keep themselves sane and even just pass the time, which is likely to help boost some CBD self-care products during quarantine time.” CBD Sales To Boom Online During COVID-19 Crisis To Home-Bound Consumers: Research; Sun Kissed Industries, Inc. (OTC: SKDI) Sees 30% Online Volume Jump.
Sun Kissed Industries, Inc. (OTC: SKDI) Sees Jump In Online CBD Sales
Sun Kissed Industries, Inc. (OTC: SKDI) has reported that its CBD product sales from recently acquired Products Group Inc. DBA/Hakuna Supply have spiked 30% online since the ‘lockdowns’ began.
The Hakuna Clean Room expansion was completed at the beginning of April. Hakuna invested in new equipment and added a single serve instant coffee line. In a growing CBD-infused drinks market, Hakuna’s Clean Room received a newly installed industrial mixer, Nespresso Capsule filling machine, and a Bagged Coffee filling machine. The results were a 300-500 hike in output — with bagged coffee production growing 500% daily and a Nespresso Capsule increase from 2,000 to 10,000 per day. Meanwhile, that efficiency meant the cost of goods sold are expected to drop 30% on a per unit basis.
Sun Kissed Industries, Inc. (OTC: SKDI) Growing Rapidly By Acquisition
In February 2020, Sun Kissed Industries, Inc. (OTC: SKDI) acquired Products Group Inc. DBA/Hakuna Supply. It bought 100% of the issued and outstanding shares of Hakuna in a definitive stock purchase agreement. It sells products including premium CBD coffee, CBD tea, CBD Drink Drops, CBD Gummies and CBD Flower product markets.
Within two months after closing on its acquisition of Products Group Inc. DBA/Hakuna Supply, a well established retail CBD company, Sun Kissed Industries, Inc. (OTC: SKDI) signed an LOI to buy NuMuni Inc., a monetization platform developed for digital media publishers, software providers and online games.
As it grows by takeover, Sun Kissed is assembling a deep team of executive management. The team includes: Ilan Freeman, CEO of Products Group Inc. DBA/Hakuna Supply, Robert Reynolds, founder and CEO of NuMuni Inc., and Leonard Armenta, newly named VP of Revenue Management, an established brand builder in the nutrition field They join Carl Grant, CEO of Sun Kissed Industries, Inc. (OTC: SKDI).
Sun Kissed Industries, Inc. (OTC: SKDI) is an emerging leader in the CBD-based products market. It is pursuing technology acquisitions through an aggressive M&A strategy. It seeks to become a dominant player in a well-defined, high-growth niche within the CBD sector.
Source: Stock Market Press
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