3 TIPS for sellers of CBD products for 2022
One such example of a change that will undoubtedly affect the market for CBD products in the Czech Republic is Act No. 366/2021 Coll., which came into force on 1 January 2022 and substantially amends the Act on Addictive Substances and on Amendments to Certain Other Acts (No. 167/1998 Coll.). The Act increases the maximum permissible level of THC and substances of the tetrahydrocannabinol group (delta 9 THC) in cannabis plants from 0,3 % to 1 %. As of 1 January, one per cent of the psychoactive compound THC may be contained not only in the technical (CBD) hemp itself, but also in "food supplements" including hemp extracts, tinctures, CBD oils or biscuits.
For CBD retailers, we have some basic tips on how to stay on top of the changing landscape. According to the EU's 2019 CBD Users Report, 56% of Europeans have heard of CBD, but only 16% have bought any products. This tells us two things:
Awareness and interest in CBD is growing.
But people cannot yet bridge the gap between theory (interest) and action (purchase). This is where a proactive CBD retailer can take advantage of the changing dynamics. Profits can be made by offering products and services that appeal to new and existing customers. How you do this depends on your personal preferences, but the main goal should be to make CBD products as accessible and targeted as possible.
The following tips for CBD sellers should help you achieve this goal. Improving your knowledge in three key areas will allow you to target new customers more effectively and evolve with the market. So if you want to increase CBD sales in 2022, you should:
1. Know your customers well
Different people like different things. This is true not only in the CBD industry, but in any other industry. Your job is to understand what your customers want. Not what the market as a whole wants, but what the people who visit your store, your potential customers, want. To do this, collect email addresses and send out surveys asking what type of information they want to receive or what their favorite products are. If you want to get responses, it's important to offer something in return, like a discount or a free gift with their next purchase. In addition, it's a good idea to monitor the responses you get to your social media campaigns (if you can get a CBD product campaign going at all) to see what your customers or potential customers are interested in. For example, analyzing a post with multiple shares is an interesting factor. This will help you identify trends among your customers.
You should also keep in mind that the CBD industry and the trade in hemp products is changing quite rapidly. As we said, more and more people are learning about CBD, yet relatively few are buying the products. If you can offer affordable and high-quality products, it's a great way to attract new customers. In addition, you can spread awareness about the benefits of CBD and other cannabinoid products by providing your customers with quality information, creating helpful guides, and sharing links to CBD studies and other resources that educate newcomers about the benefits and advantages of using cannabidiol-containing products (as well as others).
2. Find out what's current
A successful CBD dealer always knows what's hot. Surveying your customers and collecting data from your website, social media and emailing will help you identify current trends. Facebook and Instagram can be ideal social platforms to find trends and user interest. So if you want to stay up to date with the latest news, these are the right tools.
3. Know why you are doing it
The last thing any successful CBD dealer should know is the answer to the question of why. Why are you selling specific products? Why is CBD a growing industry? This is where a little product knowledge comes in handy. Don't just list the products and their ingredients. Add some history. Explain to your customers where the products come from, give details about the manufacturer, and most importantly, explain semi-literally their potential benefits.
People are more likely to buy a product if they see value in it. So you need to give them a reason why CBD products are valuable to them, ideally through a combination of personal experience and scientific research (credible data). If you can offer both empirical data and real-world experience, your products will be more attractive to your target demographic. We'll leave it up to you to decide whether to use our simple tips. But we believe that if you choose to follow them, you'll be well on your way to a successful CBD business not only in 2022 but for years to come.
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