Coronavirus Presents CBD Industry With Unprecedented Challenge To Growth
Coronavirus for the short term has most every country on lockdown. In the U.S. major cities are seeing schools closed, businesses shifting workers to home, restaurants and bars shut and major interruptions in international travel and cruising. Globally there are 145,369 cases and 5,429 reported deaths. All this presents unprecedented challenges to many industries, including the still young and growing CBD market.
The global impact of the coronavirus has intensified coverage of CBD. Companies such as stockmarketpress.com feature 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) and OrganiGram Holdings Inc. (NASDAQ: OGI).
Coronavirus Presents CBD Industry With Unprecedented Challenge To Growth
Worldwide reaction to coronavirus has meant locking down cities, countries and spectator events and has triggered cancellations of business meetings, conventions and music concerts. Coronavirus fears have changed traveling, cruising and the daily habits of consumers. Coronavirus presents CBD industry with unprecedented challenge to growth. It take courage to operate with innovative passion in this troubling time, but consumers have shown evidence of a willingness to buy — especially from home online.
As the new patterns hit brick-and-mortar stores hard, the CBD industry is facing challenges getting its products in front of consumers. CBD Unlimited, Inc. (OTC PINK: EDXC) is one company in the industry which is continuing to innovate and acquire — showing annual growth and quick changing marketing strategies to adapt to shifting consumer lifestyle
patterns. Coronavirus presents CBD industry with unprecedented challenge to growth.
CBD Unlimited, Inc. (OTC PINK: EDXC) Meets The Daily Challenges All Encounter
CBD is not a cure for coronavirus although its properties address key elements. It is known to offer anti-viral, anti-inflammatory and anti-bacterial properties. It also acts as an effective treatment for nausea and vomiting, which can be induced by the coronavirus in humans. Firms such as CBD Unlimited, Inc. (OTC PINK: EDXC) continue the mission to expand product lines, enter into new classifications and acquire innovative and entrepreneurial companies. Coronavirus presents CBD industry with unprecedented challenge to growth.
CBD Unlimited, Inc. (OTC PINK: EDXC) Buys Kush, Inc.
Companies such as CBD Unlimited, Inc. (OTC PINK: EDXC) continue to be aggressive in buying other companies. CBD Unlimited, Inc., recently acquired Kush, Inc., a New York-based media driven entity that builds brands and also owns kushwear.net. It expands the lines of CBD Unlimited, Inc. (OTC PINK: EDXC) and positions the company to extend its product pipeline into clothing brands under the Kushwear name, the company said.
It hired Charlie Mohr, president and founder of Kush, Inc., who will now work full time at a new wholly-owned subsidiary of CBD Unlimited, Inc. (OTC PINK: EDXC). Todd Davis, CEO and chairman of CBD Unlimited, said the company plans to expand its product lines. In 2019, CBD Unlimited, Inc. (OTC PINK: EDXC) reported a 101% annual increase in revenues over the prior year. Davis said the company is ‘on track’ to meet its upward growth trajectory and surpass YOY guidance and goals. By retaining Charlie Mohr, CBD Unlimited, Inc. (OTC PINK: EDXC) recognized the value of his knack for branding lines and maintaining relationships as a successful entrepreneur.
CBD Unlimited, Inc.’s (OTC PINK: EDXC) Hemp Is U.S. Grown In Colorado, Kentucky
CBD Unlimited, Inc. (OTC PINK: EDXC) ensures its CBD products are highest quality, American-manufactured and tightly controlled by a corporate seed-to-shelf manufacturing strategy. Its hemp is certified and grown in Colorado and Kentucky. It has premium genetics and superior quality, the company said in its recent Corporate Presentation. Its extracts in processing are rich in phyto-cannabinoids and terpenoids which are non-psychoactive. Product is cGMP Certified (Good Manufacturing Practice Certification).
CBD Unlimited, Inc. (OTC PINK: EDXC) is expanding and giving its retail customers extended product lines in the future. At a time of contraction for some, CBD Unlimited, Inc. (OTC PINK: EDXC) is expanding and acquiring. It’s what retail customers want in a CBD brand at the time: product growth. Health issues have never been more important and CBD Unlimited, Inc.’s (OTC PINK: EDXC) seed-to-shelf focus has been to ensure quality and consistency in its CBD products. The Kush, Inc., acquisition last week also sends the message that the company continues to be aggressive in line extensions.
70% Of CBD Sales Are Made Online
To the CBD market — roughly 70% of sales are made online — so the main impact is felt in stores, dispensaries and other locations where potential customers must make in-person purchases. The impact is temporary, but severe. Brick-and-mortar locations need to strengthen promotions to build more CBD business. CBD Unlimited, Inc. (OTC PINK: EDXC) is meeting the challenge of lockdowns and changes in lifestyle during this crisis.
Source: Stock Market Press
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