Q&A: Medterra adjusts its approach to meet consumer needs, address pandemic
CBD sales are under pressure at retail. But Jay Hartenbach, CEO of Medterra, told Drug Store News in an interview that his company maintains its leadership position by addressing specific consumer needs.
Drug Store News: Have shoppers’ purchase behavior shifted during the pandemic, and has it impacted the CBD industry?
Jay Hartenbach: CBD sales in the drug channel have shown a more than 8% decline from pre-Covid in March versus the “new normal” in August, according to Spins, powered by IRI, for the 24-week period ended Aug. 13. While other CBD brands have taken a hit with double-digit sales declines during this pandemic, Medterra has held its position as a top-ranked brand in the mass market channel and will record its highest pharmacy sales of 2020 in September. We believe the key differentiator is Medterra’s functionally designed products that address specific consumer needs.
DSN: How has Medterra pivoted to meet the needs of consumers? Have you seen a change in sales and growth?
JH: Our priority will always be putting our customers first by developing unique research and data-driven products. Research shows increased consumption in addition to demand on safety and wellness during COVID.
The pandemic has heightened the importance of health and wellness, especially as a preventative measure. It has shifted everyone’s mindset of self-care from a goal to a necessity. With so much of the environment out of our control, the one thing we can all do is be more proactive. If we are physically and mentally healthy, we have a significantly better chance at fighting any illnesses, including viruses associated with colds, the flu and COVID.
To align with our customers’ needs, we launched an Immunity Boost tincture in less than 60 days, a product that we felt people needed right now. To ensure this product had up-to-date science, we collaborated with Dr. Matt Halpert, a doctor of immunology at Baylor University.
We have seen incredible sales and growth for our complete product line, especially the Immunity Boost, which has allowed us to become the No. 1 CBD isolate brand in the U.S. since the start of COVID in March.
DSN: How do you think the CBD industry will evolve, and what are Medterra’s plans to continue to be successful in this space?
JH: It is not a surprise that in times of financial insecurity consumers are demanding more from their purchases. It is no longer enough to sell purely CBD products. We’ve seen a growing trend in consumers consistently shifting their purchases to custom blended formulations that combine CBD with a variety of other natural ingredients. These products provide an enhanced effect, whether it be for better sleep, increasing energy, calming the mind or alleviating joint pain.
Medterra was built on three goals: caring for others, continual innovation and CBD for all. Our continued success will always lie in putting our customers’ well-being first. Medterra has become a part of their daily wellness routine life, relieving our customers’ stress, managing their sleep and supporting their immunity.
Our latest product launch, Immunity Boost, which includes CBD and a selection of natural ingredients that support the immune system, is one example of how Medterra is evolving and will continue to succeed in the industry.
Our next product launch is the Ultra Broad Spectrum capsules. These are truly a game changer in the industry. By combining naturally occurring cannabinoids, terpenes and fatty acids, the Ultra Broad Spectrum capsules employ the “entourage effect.” When combined together, these compounds create a more synergistic effect and a more positive response to CBD without THC. dsn