CBD products are a dime a dozen these days. If you plan to sell these items in your shop, the products you stock will need to be at a certain level of quality to differentiate you from the competition.
Consumers are tired of mislabeled, snake oil products with crappy ingredients from questionable sources. They are spending their hard-earned money on (often expensive) cannabidiol products, and as a reputable retailer, you intend to provide them with safe, high-quality brands. But what are the criteria here? What do you need to look for when shopping for CBD products to sell in your shop?
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Ingredients are incredibly important. When most people think of CBD products, they are thinking of wellness, and ingredients that don’t reflect that typically don’t bode over well. For example, when sampling some CBD gummies recently, they contained things like high fructose corn syrup, artificial food coloring, and ridiculous amounts of sugar. The only healthy thing about them was the CBD, so basically, it was CBD candy – not a CBD vitamin gummy which is more along the lines of what I was expecting.
Not everyone feels this way, but for me personally, nasty ingredients are a deal breaker, and a growing number of consumers are becoming increasingly concerned with the quality of ingredients in the products they are consuming. And rightfully so; after all, what goes into our bodies is at the root of our overall health and wellness.
Organic is a word that gets thrown around frequently, and although it’s a bit arbitrary considering that organic farming standards vary worldwide, but it highlights an important market need – the need for standardized and regulated, high-quality produce. Organic farming practices include utilizing natural resources while promoting ecological balance and conserving biodiversity.
Another factor to consider is where the ingredients come from. When you’re narrowing down the brands you’re interesting in working with, find out if the company puts importance on ingredient sourcing. In order to prevent time consuming and costly issues, there needs to be some dedication to determining the right ingredient, from the right supplier, at the right cost.
Is it FDA or EMA approved?
This is pretty unlikely, unless you’re working with Epidiolex/Epidyolex. This medication, the very first to be approved by the FDA (Food and Drug Administration) is used to treat seizures due to certain medical conditions (such as Lennox-Gastaut syndrome, Dravet syndrome, tuberous sclerosis complex – TSC). It is not known how this medication works for these seizures. Cannabidiol belongs to a class of drugs known as cannabinoids.
This medication was first approved in the United States under the name Epidiolex. A few years later, it was approved by the EMA (European Medical Agency) under the name Epidyolex – same name slightly different spelling. It is now undergoing clinical trials in Japan.
In the future, we can expect more products to undergo FDA and EMA approval. Especially as big-pharma begins to hone in on the medicinal aspect of the CBD Industry. For example, products sold at major pharmacies such as Walgreens and CVS will likely need to be approved by the FDA.
Research and Clinical Trials
If you want consumers to feel comfortable buying products from your company, you’ll want those that have the research to back up their claims. Although limited, more and more research is becoming available these days and many CBD products are being tested for safety and efficiency. Additionally, you can find market research on many products by companies, like CBD Testers, who conduct thorough product reviews for numerous companies. And this includes physically testing the products.
You can find quite a few legitimate studies from across the globe and the effectiveness of CBD as an individual compound. As you likely already know, CBD can safely and efficiently treat many different conditions including but not limited to: pain, anxiety, depression, epilepsy, insomnia, gastrointestinal issues, and inflammation.
While most of these studies don’t look at specific products (by brand), they do look at different methods of consumption and application. For instance, one study looked at the effects of topically applied CBD on chronic pain management. Many use tinctures and sublingual mixtures in their research. Either way, it gives you an idea of what products are actually good, and why.
GMP (Good Manufacturing Practices)
When a consumer goes to the grocery store and buys a can of soup or box of crackers, there’s an expectation that one they’re buying today is identical to the ones they’ve bought before. This is the idea behind assembly lines and product labels – that each item will have the same amount of component ingredients, in the exact same measurements… every, single, time.
Of course this doesn’t guarantee quality, but it does ensure uniformity. And in the world of mass production, uniformity is important because it creates a measurable standard for the product. This is what Good Manufacturing Practices (GMPs) refers to.
This concept is becoming increasingly relevant in the cannabis industry, especially when it comes to global products. If you’re trying to appeal to the European market, chances are, you’ll need to ensure that products you sell meet GMP standards. Although the U.S. is lagging in this area (for the time being), this is likely the future of the cannabis industry as a whole.
Brand and Company Info
It may not always matter, it’s not uncommon to find that many investors or business owners are only willing to work with certain brands. And it makes sense. You wouldn’t want your name and reputation linked to a company that has a questionable and unethical history. It looks bad, and ultimately, it’s bad for business.
That’s especially important today, when consumers have access to internet and social media; tools that allow them to discover much more about a brand or company than ever before. Make sure you work with brands that have a good name in the industry.
Your exact criteria will vary based on your country. For example, in the United States, you’ll be more inclined to on ingredients and brand awareness over GMPs. Regardless, at the root of it all is quality. When stocking CBD products for your shop, you need to make sure that whatever you’re buying is safe for your consumers – a product they can trust time and time again.
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