Convenience stores can’t take advantage of every trend that comes along, but when one promises to be a $2 billion opportunity by 2022 and could easily be stocked in c-stores, it’s time to pay attention.
CBD, a non-psychoactive cannabinoid in the cannabis plant, has been garnering considerable attention and consumer spend over the past few years. Increasingly popping up in things like oils, gummies, and vapes, CBD could also represent a significant opportunity for convenience stores.
Is It Legal for Convenience Stores to Sell CBD?
Passage of the 2018 Farm Bill legalized products made from hemp as long as it contains less than .3% THC. The status of CBD, however, is a little murkier.
Some states have outright banned CBD, some allow it, and others consider it to be in legal limbo. But that’s not stopping major chains from jumping on the bandwagon, as both CVS and Walgreens have announced that they’ll be selling products containing CBD in stores across at least eight states.
The legality of selling CBD at a convenience store depends on the location’s state laws, but with CBD products rising in popularity, it’s likely that many of those laws will be changing over the next several years. It would benefit convenience stores to be ready.
Who Would Buy CBD from a Convenience Store?
Not surprisingly, CBD is largely being purchased by the trendsetting millennial generation, which extols its relaxation, sleep, and overall wellness benefits. […]