Now that some time has passed and more states are starting to loosen up restrictions; we now know a little more about how COVID-19 has affected CBD. COVID-19 didn't have a direct impact on CBD like it did with other industries in the U.S; but we all felt it's effects in one way or another. Here is an in depth look to how it affected CBD, the state of the industry, and what to expect in the future.
How COVID-19 Has Affected CBD
There were many uncertainties in the beginning of the pandemic. Therefore, in order to avoid having to shut down operations many companies started making Personal Protective Equipment (PPE). We launched a company called Savage Essentials that makes hand sanitizer, face mask, sanitizing wipes, and more. Also, many companies started to launch self-care products since many of us were now at home. A lot of local CBD shops ended up closing temporarily or moved to curbside pickup only. This drove a huge influx of customers to start shopping online for their CBD products.
Demands for CBD increased online so many customers ended up experiencing higher than normal wait times. In the beginning of the pandemic there was much confusion which lead to many people stockpiling on necessities. This included people stockpiling on CBD for self-care, and for the rich properties in CBD. Many shops in states where Marijuana is legal were deemed "essential" and were able to sell both CBD and Cannabis. It wasn't all good news for CBD, like any other industry there was people making false claims and looking to capitalize on the pandemic.
How Is CBD Doing Right Now
On March 8, 2020 former NFL player, Kyle Turley made a CBD claim about Corona virus on his Twitter. This led to the FDA giving him a warning letter because he was making this claim to help promote his CBD company. This has been a trend for some companies that are pushing CBD as a cure-all remedy. In January of 2020 Cannabis and Cannabinoid Research published an article called "Cannabidiol for Viral Diseases: Hype or Hope?" They concluded that there was little clinical evidence supporting antiviral properties of CBD. Also, they stated "Misleading claims represent both a threat to public health and a violation of consumer access to accurate information".
There is no scientific evidence that states CBD can help you for any specific reason; but a lot of our customers take it because they like it. CBD is still getting more popular and it's hard to believe that some people are just now hearing about it. We are expecting CBD to continue this upward trend into the future.
What The Future Holds
While no one really knows what the future holds here is what we expect. We expect to see local CBD shops and stores that carry CBD start to open up and offer curb-side pickup. Although, online shopping is the new norm we encourage supporting local businesses especially if they carry our brand. If they don't carry our CBD let them know to reach out to us so that you don't have to wait for your products to ship.
Expect to see more CBD products and more national retail stores carry CBD. We also noticed CBD for pets products become a lot more popular, we feel this is because more people were at home with their pets. So, pet owners could monitor how their pets react to CBD without leaving them alone. Expect to see more CBD pet products in the near future. While, everyone is still adjusting to things going back to normal our hope is that you come out of this situation a lot better well informed about CBD.