As the coronavirus pandemic continues, regardless of location, there is an overwhelming sense of uncertainty in the CBD industry. In this special episode, Tim Phillips – the founder and managing director of CBD-Intel — provides some analysis relating to the three main areas impacted in CBD industry: demand, supply, and regulation; however, he believes that it is too early to discuss the long-term impacts.
Tim suggests that people may have less financial power post-COVID-19 and will continue spending only on the basic necessities, changing from premium to cheaper products as well as changing their general consumption patterns. On the other hand, companies may start to combine CBD products with different wellness products in order to advertise their products in a different way. The retail slowdown prior to the onset of COVID-19 will certainly continue while stores are closed, however, online sales have grown in comparison with the same period last year, resulting in online sale acceleration and new models of business.
Lastly, he discusses the policy and legislation being implemented, food regulations in the UK, and more.
CBD-Intel’s regular podcasts provide expert insight into global regulation, market trends and the latest developments. Join us to find out more about this fast-moving industry with the CBD-Intel team.
We are also constantly updating our COVID-19: emergency regulations and affected legislative procedures report, and providing a range of related content during this critical time.