CHICAGO —CBD (cannabidiol) remains a bright spot for convenience-store retailers. Almost half of retail operators are selling CBD products, from snacks and candy to flavor shots and tinctures, in some capacity, according to research by Wells Fargo Securities. This new category is estimated to reach $200 million in global sales by 2025, Wells Fargo reported.
However, hazy regulation standards and a lack of education has prevented the industry from welcoming CBD with open arms. CSP saw the need to provide high-quality and trustworthy information on the topic and hosted an inaugural CBD & the Future of Cannabis in Convenience conference in April to help operators in all markets that parent company Winsight serves: convenience retailing, grocery and foodservice (both commercial and noncommercial).
“Our first forum drew curious retailers from across the country looking for answers: Can we sell CBD products? Who is the consumer? How do we market them?” said Steve Holtz, content director for CSP. “While we provided information that was current at the time, this is a product segment that continues to come into focus as the U.S. Food and Drug Administration discusses legal issues and more products—beverages, bakery and more—become available.”
After seeing the continued need for risk management and merchandising options, CSP will host a second forum for those in the convenience-retailing space to continue their education. During this three-day event, to be held Oct. 28-30 in Charlotte, N.C., attendees will learn about looming legislation on CBD, take a tour of a local dispensary and farm, and do a deep dive into consumer trends, acceptance and usage.
Attendees will also hear from speakers such as Jonathan Haven, partner at Saul Ewing & Lehr LLP; Don Burke, senior vice president of Management Science Associates; and Yael Ossowski, deputy director of Consumer Choice Center. Also speaking are Winsight’s own Donna Hood Crecca, principal with Technomic, and Mitch Morrison, vice president of retailer relations for Winsight.
Retailers interested in attending the CBD & Convenience Retail Forum can contact Christine Lavelle at (480) 337-3404 or clavelle@winsightmedia.com.
If you are interested in sponsoring the CBD & Convenience Retail Forum, please contact Chrissy Ferraro at (970) 391-9689 or cferraro@winsightmedia.com.
CSP magazine is the leading source of information for the $600 billion convenience-retailing industry. Its award-winning editors provide actionable solutions and data-driven trends to key decision-makers who rely on this information to combat disruption. CSP annually hosts Convenience Retailing University and the Outlook Leadership conference, which are two large-scale leadership events, as well as 15 small-format meetings in its EduNetworking series.
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