Not Immune To The Effects Of Covid-19, The Cannabis Industry Sees Erratic Sales And Seeks New Strategies For Survival.
Let’s take a quick look at the current state of the cannabis industry. Cannabis companies fall under essential services in most states where it is legal. However, hoarding creates unstable demands.
Changing government policy and consumer fear will continue to cause swings in sales. Coupled with disruptions in the labor force for cultivation, processing, and shipping, cannabis product inventories will be unpredictable for some time to come.
Buyer behaviors will naturally shift since most customers will now order off the website rather than visiting the store due to social distancing. The coronavirus crisis is also driving users to purchase ingestibles. While some may go back to their usual form, some others may stick to their new-found options.
Health is now the main focus for most of us at the moment. For this reason, a lot of users are turning to CBD products for boosting their immune system. Consumers may also start looking for budget products since most may not be able to afford top-tier products with the unemployment rates shooting up and the economic future quite unclear. While the cannabis industry as a whole is seeing a lot of growth, some companies are struggling to survive since it is quite a competitive space.
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CBD is one of many powerful cannabinoids found in hemp known for helping to support our body and mind. Here at Healing Dragon CBD we do not intend to make unfounded medical claims about the health benefits of CBD. The FDA has not confirmed that CBD cures, treats, or prevents any diseases or conditions. Before reading this article please take a moment to read our full disclosure statement.