29 Aug Cannabidiol and Hemp-Infused Products, Will Giant Drug Chain Stores and Grocery Companies Accept It?
The hemp industry continues to be one of the most interesting rising industries in the country with its presence at the National Association of Chain Drug Stores Total Store Expo. The hemp industry has been sidelined for a long time, so it is a fantastic thing that it finally interacted with some of the biggest retailers in the world, such as Walmart (NYSE: WMT), Albertson’s, Walgreens (NASDAQ: WBA), and Von’s. There were many other smaller retailers present as well. As hemp commodities become more common due to its superior quality as well as negligible environmental impact, these retailers know that they will be dealing with a lot of products made of hemp in the future.
“It was an event that was designed to encourage business deals between hemp product manufacturers and clients.”
The global hemp-related product event was hosted by Kismet Consumer Packaged Goods LLC. It took place on August 19-22, 2017 in California’s Green Coast at the San Diego Convention Center. Each participating brand was responsible for providing samples, as well as sales and marketing materials, so that appropriate buyer appointments could be made in advance. That’s what separated it from other similar events.
It wasn’t being held just for advocacy – it was an event that was designed to encourage business deals between hemp product manufacturers and clients. There was also a focus on helping buyers and retailers keep up with packaging trends.
Bulk sales were also going on during the event, with one FMCG (Fast Moving Consumable Goods) product manufacturing company entering a deal for 24,000 units with an undisclosed buyer. Then trendy products such as the Bubble Gum and Mint Lip Balm by Canna-Envy were popular samples at the event.
Biggest Influencers at the Event
The event was attended by many influential proprietors and companies, including:
- Cedric Watkins, Founding Partner of Diversified Agricultural Products, a Manhattan-based alternative investment manager making direct investments in the legal cannabis space.
- Michael Zinna, Hollywood Action TV star, made a special appearance at the event.
- Jerry Seidl, Director of Global Sales, Creative Bioscience® is excited to enter the ‘green rush’ space. Creative Bioscience® is a supplier of weight management and sports nutrition products.
- Greg Joiner, International Account Manager for Armor Gel. Armor Gel™ is a wound dressing gel, ideal for athletes of all ages and sports.
- Perry Anzilotti, Founder of Perrywinkles Edibles, brings relief and comfort to medical marijuana patients through his authentic cookbook and unique packaged goods.
“Huge pharmaceutical and retail companies are working with Department of Transportation to clarify the rules of transporting cannabis related products across state lines.”
Insights from the Event
The event hosted some of the most influential and ‘in-the-know’ individuals from the industry, which is why it was a great place for insights. Many pharmaceutical companies expressed an interest in Cannabidiol (CBD) products, and were just waiting until the laws became more clear to enter the market. SynMed® is one company that sees opportunities in the ‘green rush’ market. They manufacture an automated dispensing system, especially for solid oral medications, targeted towards pharmacies using blister cards. This dispensing method is most frequently used by pharmacies having customers that require a number of different medications.
We also learned about the grocery companies and retail giants that are researching cannabis related products with an open mind. While the media may show a negative future for the industry, companies are very interested in its opportunities. The biggest takeaway was that some of the huge pharmaceutical and retail companies are working with DOT (Department of Transportation) to clarify the rules of transporting cannabis related products across state lines. If these rules are clarified, it will provide a huge boom to the U.S. economy.
SAN DIEGO EVENTS: Want to get updates of upcoming events in San Diego, CA?
We love meeting like-minded entrepreneurs in the ‘green rush’ space. We have collaborated with San Diego Cannabis Industry Association that brings together industry related businesses through their signature networking mixers, educational events, resource contacts, and their political outreach functions. Join our upcoming Fall Mixer on September 14, 2017 from 6:00p to 9:00p at Kimpton Hotel Palomar in Downtown San Diego. Please note that an entrance fee will be required upon check-in.
About the Author: Carlo Desierto is a serial entrepreneur with over a decade of experience in business startups. He has founded, built intrinsic value, and sold several companies in which he sits as an adviser for the Board of Directors. Carlo has interviewed over 200+ entrepreneurs and published mini-biographies for new digital media channels relating to entrepreneurship, health, self-help, futurology, and the green industry.