2022 CBD Retailer Tips: How to Capitalise on Growing CBD Sales

Written by

Xiong Attwool

Data Strategist at Simply Green

Amsterdam

19/01/2022

Selling CBD products can be a profitable endeavour, but only if you understand the task at hand. Indeed, we’re at a point in time where the industry is evolving and this subsequently means that the market is changing. According to the EU CBD Consumer Report: 2019, 56% of Europeans had heard of CBD but only 16% had bought any products. This tells us two things:

There is growing awareness and interest in CBD.
People are yet to bridge the gap between theory and action.

This is where a proactive CBD retailer can capitalise on the changing dynamics. By offering products and services that appeal to new customers, as well as existing ones, there are gains to be made. How you do this will be a matter of personal preference, but the overarching aim should be to make CBD products as relatable and accessible as possible.

The following 2022 CBD retailer tips should help you achieve this goal. Refining your knowledge in three key areas will allow you to target new customers more effectively and evolve in step with the market. So, if you’re looking to increase your CBD sales in 2022, you should:

1. Know Your Customers

People like different things. That’s as true in the CBD industry as any other. Your job is to understand what your customers want. Not what the market as a whole wants, but what the people who visit your store want. To do this, collect email addresses and send out surveys asking what type of information they want to receive or wich are their favourite products. It’s important to offer something in change if you want to receive answers, maybe a discount or a free gift on the next purchase. Additionally, monitor the responses you get to social media campaigns is a good idea to find what are the interest of your customers or leads, analyze the post with more saves for example is a interesting factor. This will help you to identify trends among your customers.

You should also think about the changing nature of the industry. As we’ve said, more people are becoming aware of CBD yet only a few are buying products. If you can offer affordable, high-quality products, that’s a great way to attract new customers. Additionally, you can provide guides, links to CBD studies and other resources that teach newbies the benefits of these products.

2. Know What’s Hot

A successful CBD retailer will always know what’s hot. Surveying your customers and gathering data from social media can help you to identify trends. You can also use Simply Green to spot what’s hot. Our site allows you to filter products by their release date and popularity. We also have a “featured products” category, so you can see what’s selling well here at Simply Green. Also we share the top products of the moment in our Instagram, this social platfomr is perfect to find trends and users interest. So if you wan’t to be updated, that’s your tool.

3. Know the Why

The final thing any successful CBD retailer should know is the why. Why are you selling certain products? Why is CBD a growing industry? This is where a bit of product knowledge comes in handy. Don’t just list products and their ingredients. Add some backstory. Explain to customers where the products came from, provide details about the manufacturer and, most importantly, explain the potential benefits. Our “Brands” blog post category can help you to achieve this point and spread the history and phylosofy behind the brands you sell.

People are more likely to buy something if they see value in it. Therefore, you need to give them a reason why CBD products are of value to them, through a combination of personal experience and scientific research. If you can offer insights and empirical data, your products will be more appealing to your intended demographic. When you combine this with our other tips (here you can find our best tips and tools for social media), you should be well on your way to having a successful CBD business in 2022.