FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “NewLeaf Brands’ Wholly Owned Subsidiary We Are Kured, LLC Officially Launches Three New Flavour Profiles.”
NewLeaf Brands Inc.’s (CSE: NLB) (OTC: NLBIF) (FSE: 0NF) wholly owned subsidiary We Are Kured, LLC, announces the launch of three new flavor profiles for its disposable vape pens and 510 thread refill cartridges.
NewLeaf Brands, Inc. is an innovative Cannabidiol lifestyle Company. Through the Company’s wholly-owned subsidiaries We are Kured, LLC, Drink Fresh Water, LLC, ReLyfe Brand, LLC and TeaLief Brand, LLC the Company’s main business activities encompass the development, marketing, and distribution of CBD products (including vaporizer pens/cartridges, hot/cold tea, softgel capsules and beverages) throughout North America, South America, and Europe. In addition, NewLeaf Brands, Inc. has extensive retail and cultivation land investments in Oregon, USA.
Over the past year, cannabidiol-based (CBD) products have rapidly emerged due to widespread legalization efforts. Specifically, in regions such as the U.S. and Canada, consumers have flocked to retailers to buy CBD products such as topicals, beverages, tinctures, and patches. Notably, major retail corporations such as Amazon, Walgreens, and CVS have all decided to sell CBD products in-store as well as on their online platforms. Overall, the rapid acceleration of the market is attributable to the passage of the U.S. Farm Bill in late 2018, which legalized the commercialization of hemp-derived products. Shortly after, retailers throughout the nation began to stock up on CBD products as consumers became increasingly curious. At the market’s inception, most consumers generally had little to no knowledge about CBD, except for the fact that it was derived from the cannabis plant. As a result, most people associated CBD with psychotropic effects similar to its THC counterpart. However, researchers noted that CBD is the exact opposite of THC and instead provides soothing and therapeutic effects without the head high associated with marijuana. Now, while CBD is becoming increasingly popular among consumers, it has also become more and more difficult for newer players to compete within the market space. Typically, pre-established players such as large corporations with excess marketing budgets or reputable dispensaries tend to dominate the marketplace. Consequently, the utilization of social media as well as other marketing techniques have been key for smaller players to stand out against the competition. According to data compiled by Acumen Research and Consulting, the global cannabidiol market is projected to reach USD 22 Billion by 2026 while exhibiting a CAGR of 33% over the forecast period from 2019 to 2026.
Marketing within the cannabis industry poses many regulatory challenges as the industry remains in a legal gray area in many regions. For instance, in the U.S., cannabis is illegal at a federal level, however, states have the jurisdiction to legalize cannabis or not. And despite the large number of states that have moved to legalize cannabis, many broadcasting stations or social media platforms strictly prohibit advertisements related to cannabis. Large advertisement platforms such as Facebook and Google prohibit ads related to drugs; and under federal law, cannabis is still a controlled substance. However, Facebook recently allowed advertisers to run ads for topical hemp, but the ads cannot depict specific features of the product and other CBD products are also not allowed. While advertisers cannot promote CBD products, the authorization of topical hemp hints that social media platforms may be loosening regulations. On the other hand, while some states allow advertising, they prohibit advertisements in places where minors may be exposed or in large public areas. Nonetheless, despite the restrictions, cannabis-related operators can still promote their brands through other means of advertisement. Notably, many companies have decided to promote themselves as a lifestyle brand and strive to educate consumers instead of directly marketing products. Moreover, third-party services have developed their own platforms in efforts to help push CBD retailers into mainstream markets. And while the CBD market is continuing to progress each year, it is important for cannabis-based operators to comply with regulations set at both the state and federal levels. “Despite the risks, if you come at social media with a responsible approach with quality content driven by a desire to drive non-social media engagements as well, your cannabis company may just tame the Wild West of the social media and cannabis,” said Andre Bourque, Vice President of Business Development for Verdantis Advisors.
For more information, please visit: NewLeaf Brands, Inc.
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