Vape Radio | The Voice of the Vape Space

Vape Radio 103- CBD: A Once in a Generation Opportunity Explored and Explained

March 19, 2019

Joining us today is Bethany Gomez, Managing Director with the Brightfield Group from Chicago. They have been marketing and researching in cannabis and CBD more than 4 years

Some findings:

  • old methodologies do not keep pace with this fast moving cannabis market
  • Brightfield integrates social media with conventional methods
  • their data science division analyzes all these components
  • they look at lifestyle as well as metrics
  • where is the CBD market strongest? Boomers? Millennials? Seems to be both and here’s why!
  • The stressed out Millennials can be angry and the Aging Boomers can have pains
  • How big was CBD in 2018? $600M pretty good considering it was mostly illegal on a federal level most of that time, sales were through independent retailers, no large chains, mostly word of mouth, no marketing beyond a point
  • How big will it be in 2019? $5 Billion
  • $22B by 2022…
  • Fits into SOOO many consumer products
  • Europe is a patchwork of different rules and opportunities, similar to the US until the Farm Bill passed. The US status was clarified with one law; can the same thing happen in Europe?
  • Opportunities for making money? Yes, we discuss that too! Product innovation, competitive positions rule. What is a White Space? Find out here, plus learn about how long the window of opportunity may last
  • And what about the female market? Lots of opportunities here ttoo.
  • Contact Brightfield and Bethany at bethanygomez@brightfieldgroup.com