CBD Marketing 101: Strategies for Sellers to Stand Out in a Sea of Green.

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Human brains are wired for categorization. These systems help us navigate the world and communicate with one another more efficiently. But with more than 400 active chemical compounds associated with the many variations of Cannabis sativa L.—and an infinite number of combinations these phytochemical constituents can take in flower-form—arriving at an appropriate and accurate consensus on chemovar categorization across the cannabis industry has been tough. This is especially problematic within the context of the market’s binary legacy.

How we talk about cannabis chemovars matters. Now, more than ever before, science is revealing new ways to categorize this plant’s effects.

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Whether it’s a cannabis-focused arts and music festival, a “garden party” or a tour that guides visitors from cultivation all the way to the sales floor, experts say that creating memories that stick with customers is among the most effective ways to build brand loyalty.

In an industry constrained by regulations that limit cannabis advertising, experiential marketing, also known as engagement marketing, is taking hold.

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The availability of legal cannabis products in the United States, including cannabis and hemp-derived cannabidiol (CBD), is greater than ever, with consumer interest continuing to grow. CBD products are now easily found in mainstream retail stores and the number and variety of products will undoubtedly expand further.

It’s no surprise that grocers are hopping on the bandwagon, as well they should. Spending on cannabinoid products is expected to reach $45 billion by 2024, with CBD serving as a major driver of this growth. To put the market opportunity that cannabinoid-infused products represents into context, the current U.S. snacking market delivers roughly $40 billion in annual revenue. The CPG industry hasn’t experienced new market opportunities of this size for decades, if ever!

For retailers to take maximum advantage of the opportunities created by cannabinoid products, retail marketers must first answer several questions. They must determine who their target shoppers are, what CBD products to explore, and how to draw shoppers in and away from other channels such as dispensaries, vape shops, salons, spas, vets and cafes.

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Despite ambiguity in the regulations, more are finding employment in the cannabis, CBD & hemp industries. New cannabis and hemp ventures typically hire people across a wide range of education levels, specialties and salaries.

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The U.S. Department of Agriculture released a nationwide proposal for growing hemp and testing its THC content, a move that comes more than 10 months after Congress legalized hemp and ordered the USDA to regulate it.

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Right now, around 41 million people have access to recreational marijuana that’s legal at a federal level. Two countries have legalized recreational pot — Canada and Uruguay. We can’t include the millions of Americans who live in the 11 states that have legalized recreational marijuana in our total since marijuana remains illegal at the federal level in the United States.

But very soon another 128 million or so people will gain access to legal marijuana. Legislators in Mexico are finalizing regulations to make marijuana legal. The legislative effort came after the country’s Supreme Court ruled last year that Mexico’s ban on recreational pot was unconstitutional.

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A subsidiary of California-based, Canada-listed Harborside Inc. (CSE: HBOR) owes about $11 million in aggregate tax deficiency, according to the U.S. Tax Court. That’s good news for Harborside, the cannabis company said Monday, as the IRS originally demanded $25 million more.

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The governors from several Northeastern states said Last week they want to work together to regulate marijuana and vaping, including possible regional restrictions on flavored vaping products.

Democratic governors from New York, Connecticut, New Jersey and Pennsylvania met in New York City with health and legislative officials. Representatives from Massachusetts and Colorado were also on hand for the meeting.

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How the largest Wall Street banks are cautiously opening their doors to cannabis, food investors make a bet on CBD, and more.

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