CBD Industry

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CBD Industry

KEY TAKEAWAYS

  • Premium Jane's brand messaging focuses on the ability of the company to deliver authentic, top-notch CBD products that actually work. The company states all its products are sourced from authentic USA-grown hemp that is harvested in strain-specific microclimates.
  • Millennials are currently a major demographic of PureKana customers and they tend to use CBD daily and spend more per month than average.
  • Tommy Chongs brand strength is said to be the use of nano CBD technology in their products that reduces the size of the active ingredients, making them easier for the body to absorb. The weaknesses of the brand include expensive pricing, lower CBD doses compared to other brands, and artificial ingredients.
  • Charlotte's Web was actually advertising-averse for a majority of years but according to Joel Stanley, one of the co-founders, the recent implosion of the industry has made it more important than ever for people to have access to quality hemp and trusted information about CBD.

INTRODUCTION

  • The following research presents a competitor analysis of the 10 most visible and active CBD brands. The brands include Premium Jane, Just CBD, PureKana, Tommy Chongs, Green Roads, Binoid, Diamond CBD, Plant People, Nature Script, and Charlotte's Web. For each (where available) a description of the company, background information, brand messaging, available products, target audience, unique selling points, marketing practices, available campaign information, sustainability practices, and strategic partnerships has been provided.

CBD BRAND PROFILES

Premium Jane

  • Named as the 'best value for money' brand by Best Brand Analysis, Premium Jane is an award-winning CBD brand that sells premium quality CBD products. The company provides over 40 products in 9 categories ranging from CBD oils, gummies, bath bombs, topicals, pet products, and capsules. Their products are made from natural premium ingredients. Free shipping is offered on every order and a 30-day money-back guarantee is provided for all products.
  • Premium Jane's brand messaging focuses on the ability of the company to deliver authentic, top-notch CBD products that actually work. The company states all its products are sourced from authentic USA-grown hemp that is harvested in strain-specific microclimates. They are also fully committed to the environment via sustainable farming and carbon-neutral manufacturing practices wherever possible.
  • Some brand's strengths include offering high potency formulations with strengths ranging from 300mg to 5000mg. They also offer a myriad of flavors, and customers find their products to be effective for stress relief and muscle tension.
  • Premium Jane's unique selling point is that the company has raised the bar compared to other brands in terms of quality, effective, and affordable CBD products. According to the company, each Premium Jane CBD product is verified through updated third-party lab reports, which customers can find on each product description page.
  • When it comes to brand marketing strategy, aside from social media marketing which has included giveaways, and influencer partnerships, Premium Jane has not had any ads or notable marketing campaigns since the company was founded in 2019.

Just CBD

  • Just CBD is the top-ranked CBD brand in the US. The company has over 100 unique and innovative CBD products. Their products are all made in the USA and are notable as a great choice for beginners. Free shipping is offered for orders over $35, a money-back guarantee is available and veterans and military discounts are available.
  • The company's brand messaging focuses on the company's mission to improve people’s daily lives with the most convenient and effective CBD products all over the world. They achieve this by having knowledgeable sales reps, friendly customer service, and a professional shipping department.
  • Just CBD's unique selling points include being GMP Certified, providing customers with lab results for all their products in an effort to be transparent, and selling products that are 100% natural, made in the USA, and derived from the finest quality organic hemp.
  • According to HealthLine, the brand strengths include having a diverse set of products including full-spectrum, broad-spectrum, and isolates in various strengths, and affordability compared to other brands. Some of their stand-out products include their CBD gummies and their full spectrum oil.
  • Similar to Premium Jane, Just CBD has not had any recent marketing campaigns aside from educational YouTube videos and influencer partnerships. This may soon change as they recently announced a partnership with MMA champion, Jon "Bones" Jones. Jones will be featured in various promotional campaigns for JustCBD, driving awareness for its performance and recovery-focused products. The partnership would further solidify Just CBD as a leading brand in the CBD lifestyle market.

PureKana

  • PureKana is a top, award-winning CBD brand in the US. The company provides over 50 products in 10 categories, and are 100% made in America. Free shipping is offered on all orders, a full money-back guarantee, and free returns are all available.
  • The company states its mission is to lead the industry in bringing high-quality CBD based products to the marketplace. Their hemp CBD is grown and harvested in Kentucky where it is carefully processed and undergoes extraction and quality testing, creating CBD-rich hemp oil which is infused with the highest quality MCT oil.
  • PureKana's unique selling points include providing non-GMO products, being transparent by offering third-party lab testing results on their products, and offering a convenient and simple ordering experience for customers.
  • Revenue for PureKana last year was approximately 10.6 million a drop from 20.5 million the previous year.
  • Some brand strengths of PureKana include providing an extensive range of products, a wide range of strength and potency options, and exceptional customer service.
  • Millennials are currently a major demographic of PureKana customers and they tend to use CBD daily and spend more per month than average.
  • PureKana's brand marketing strategy involves leveraging influencer partnerships, using data-driven marketing strategies, and using TV to reach customers.
  • 90% of sales of PureKana are primarily direct to consumer, and the company enjoys distribution in 1800 retail stores.
  • Early last year, HeavenlyRx, Ltd acquired majority ownership of PureKana.

Tommy Chongs

  • Tommy Chongs is among the top CBD brands in the US created by comedian Tommy Chong, who credits marijuana for helping him recover twice from cancer. The company provides over 25 all-natural and 100% American made products within 5 product categories. Shipping is offered at a flat rate of $4.95.
  • The company's brand message focuses on the quality and safety of its products which includes manufacturing excellence that ensures their processing produces raw, and natural products.
  • Tommy Chong's unique selling point includes providing THC-free, Non-GMO products, and being transparent by offering third-party lab testing results of their products.
  • Some brand strengths are said to be the use of nano CBD technology in their products that reduces the size of the active ingredients, making them easier for the body to absorb, full spectrum CBD formulas, and fast-absorbing/fast effects. The weaknesses of the brand include expensive pricing, lower CBD doses compared to other brands, and artificial ingredients.
  • The company's brand marketing strategy has been the use of content marketing platforms such as Revcontent to engage and grow their audience.

Green Roads

  • Green Roads is named as one of the most world-famous, highly rated CBD brands. The company provides over 50 vegan-friendly products in 8 categories. Free shipping is offered on orders above $50, a 30 day money-back guarantee is available, and a 50% discount is available for military and veterans.
  • When it comes to brand messaging, Green Roads states their company is about helping people. The company is pharmacist formulated and founded which ensures their products are top quality, consistent, and above industry standards. A CBD university is also available for customers who want to learn more about CBD.
  • Revenue for Green Roads was approximately 45 million in 2018.
  • Green Roads unique selling point is that they are an original manufacturer and not a 'white-label' brand, they only use high-quality hemp from American farms, and they use an independent lab to conduct full panel tests.
  • Brand strengths include a diverse range of products, high-quality products that are effective and are great for beginners.
  • The company sells its CBD products online, in 6,000 retail stores and 2,000 doctors' offices.
  • Similar to Premium Jane and Just CBD, Green Roads has not had any recent marketing campaigns.
  • Earlier this year, Green Roads was bought by Valens in a deal worth 60 million.

Binoid

  • Binoid is a CBD brand based in Los Angeles. The company provides over 15 premium CBD products in 7 categories. Free shipping is offered for all products.
  • The company's brand message focuses on providing high quality, premium CBD products. Binoid's products are sourced from fresh hemp grown on nutrient-rich soil in Oregon.
  • The company's unique selling point includes only working with local farmers to grow their plants with the best plant genetics, high cannabinoid concentrations, and beneficial terpenes, being GMP certified and lab-tested, and providing the best customer service experience to customers by going above and beyond.
  • Some brand strengths of Binoid include affordability, high-quality products, and natural ingredients.
  • The company has not had any recent marketing campaigns.

Diamond CBD

  • Diamond CBD is an award-winning CBD brand in the US. The company provides over 50 products in 15 categories. Free shipping is available on products over $100 and a 30 day money-back guarantee is available.
  • The company's brand message focuses on the creation of high quality, pure, all-natural CBD products. They also have a CBD University that offers educational resources to customers.
  • Revenue for Diamond CBD last year was approximately 18 million.
  • The company's unique selling point includes only selling Non-GMO, organically grown, lab-tested, and eco-friendly products. They also state they utilize a sustainable approach to hemp.
  • Some brand strengths of Diamond CBD are the wide variety of products offered and a personalized shopping experience that allows customers to subscribe and save as well as rewards. Notably, weaknesses within the brand include a lack of good customer service and non- tasty gummies.
  • Diamond CBD has in the past launched educational videos on YouTube to promote its brand.
  • Early this year it was announced that Diamond CBD would enter an exclusive distribution agreement with Champs, to bring athlete-approved and endorsed products to the market.

Plant People

  • Plant People is a doctor-formulated CBD brand based in the US. The company provides over 25 premium CBD products. Free shipping is offered for all products and a discount of 15% is offered for veterans.
  • The company's brand message focuses on the healing nature of plants.
  • Plant People's unique selling point is that they combine the highest quality ingredients with cutting-edge science and clinical research to create products. They also embody sustainability through regenerative agriculture, organic practices, a minimal plastic supply chain, and environmental programs.
  • Some brand strengths of Plant People include having a diverse set of lab-tested products, affordable price points, and exceptional customer service.
  • The company has not had any recent marketing campaigns.

Nature's Script

  • Nature's Script is a popular CBD brand in the US. The company provides over 15 premium CBD products in 6 categories. Free shipping is offered for products over $50. Veterans, senior citizens, and first responders get a 15% discount.
  • The company's brand message focuses on offering high potency, flavorful and premium CBD products.
  • Nature's Script unique selling point includes only selling premium, pure, natural CBD products extracted from industrial hemp grown on licensed American farms. They also use sustainable sourcing that ensures their CBD is separated from heavy metals, pesticides, and other contaminants.
  • Brand strengths of Nature's Script includes the availability of multiple products with different strengths and potency and good customer service.
  • The company has not had any recent marketing campaigns but has worked with companies such as Spinutech to grow their email list.

Charlotte's Web

  • Charlotte's Web is one of the oldest CBD brands in the US. The company provides over 70 products across 8 categories. Their scientifically developed products are 100% all-American made and the company is certified by the US Hemp Authority. Free shipping is offered for orders greater than $74 and veteran's discounts are available.
  • The company envisions a world in which people live healthier lives through the healing powers of botanicals.
  • In 2020, revenue for Charlotte's Web was approximately $95 million.
  • Charlotte's Web's unique selling point is rooted in their beginning back in 2012 where the seven Stanley brothers developed a strain of hemp that was high in CBD but low in THC, and was shared with a girl named Charlotte. According to HealthLine, Charlotte had Dravet syndrome, a rare form of epilepsy. The strain of hemp helped her symptoms and reduced the frequency of her seizures which brought a lot of international attention to the medical benefits of CBD.
  • Brand strengths include good customer service, extensive product ranges, high-quality products with great ratings and the brand is very transparent about its products.
  • The company's brand marketing strategy includes a mix of outdoor experiential marketing (they recently aired a campaign called "Going the Distance" where they provided a vending machine dispensing their hemp-infused balms at the top of Castletown Tower a landmark in Utah to soothe the muscles of climbers) and the company has also invested in billboard marketing. In 2019, for their first national ad, they partnered with a street artist Shepard Fairey to create an art installation.
  • Charlotte's Web was actually advertising-averse for a majority of years but according to Joel Stanley, one of the co-founders, the recent implosion of the industry has made it more important than ever for people to have access to quality hemp and trusted information about CBD.
  • Early this year, Charlotte's Web announced a multi-phase research project with Colorado University on how genetics, growing conditions, and extraction types affect the phytochemical profile of hemp extract. They also announced a partnership with U.S. women's and Olympic soccer star, Carli Lloyd.




RESEARCH METHODOLOGY

For this research on the most visible and active CBD brands, we leveraged the most reputable sources of information that were available in the public domain. Using this research strategy we were able to find adequate information on the different CBD brands. We profiled the 9 companies mentioned in the research proposal but switched Medterra with Charlotte's Web because it was already profiled in the research proposal. Charlotte's Web was ranked by Health as one of the top 11 CBD oil brands.

Research proposal:

Only the project owner can select the next research path.
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