MarketHub Retail Services’ Patterson talks hemp

Hemp-derived cannabidiol, or CBD/hemp Extract. Just talking about these kinds of things sounds intimidating, illegal and not very consumer-friendly. Skeptical? Not a problem. 

 

It’s likely most retailers have tremendous experience with health-and-wellness products. Retail markets, consumer products and shopper marketing programs are my sandbox. Therefore, merchants are familiar with adaptogens and their many positive effects on the human body. The CBD molecule is an adaptogen.

 

The recent discovery of the endocannabinoid system — 1990 to 1993 — within the body and the research of hemp/cannabis on it, as well as the legal clarity and risk mitigation, are racing us to a category market explosion. The health benefits of CBD are too substantial for the space given for this article. Like with most consumer products, if certain regulations, sourcing, manufacturing and labeling criteria are met, it is completely legal in all 50 states.

 

There are companies in this field that have vision and are executing at the highest levels, while patiently — in some cases — waiting for critical mass to take hold and carry them to where they deserve to be. These companies have been honing their craft and developing new and exciting products to meet the necessary requirements for success at every level. 

 

The World Anti-Doping Agency took CBD off the banned substances list on Sept. 29. Lucky’s Markets, a Kroger property with 29 stores in 11 states, rolled out the category, including their own private label chainwide in October. Let that sink in — a banner of one of the largest supermarket conglomerates in the United States has its own brand of hemp extract products. 

 

Kroger’s entry into this category signals that the green flag has dropped on a category that can change lives. 

 

There is a blueprint for success of this magnitude, and the CBD category now hits them all:

The convergence of education and access is necessary, and it applies to retailers and customers alike. We think we can help. MarketHub brings these aspects together with years of experience in category management and creating retail programs that bring real value. Through our extensive research of this industry, we have aligned ourselves with the best it has to offer. We have an established and growing catalog of premium quality and compliant brands to create the right product mix for each retail client and customer group. We then work together to create a category plan that engages customers on a vertical basis. Our partnership philosophy is embedded in everything we do.

 

The category is new and needs to be cultivated by everyone in the value chain. Our goal is to maximize the opportunity for every stakeholder — including the customer — who will find value in the category due to the tremendous benefits for mind and body.

 

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Blake Patterson is the co-founder of MarketHub Retail Services, which represents the hemp category by providing its category partners a mix of products, as well as management, national distribution, display options, integrated shopper marketing and education.