While the global pandemic has slowed sales for many industries there are markets and companies that have actually thrived. One such market is the CBD markets and the companies that focus on online sales have outpaced the brick and mortar storefronts.
According to a report from industry insider, the CBD & Cannabinoid Industry Association, reported that despite slumped sales for brick-and-mortar CBD storefronts, online sales of CBD products have spiked.
The coronavirus pandemic that has started in 2019 has caused a shift in consumer shopping behavior to online purchasing among retailers, including those selling CBD related products.
Recent reports shows that the cannabis industry overall, is still projected to substantially grow in the next several years. Cannabis and CBD stocks have gone wild since the start of the year.
Link Reservations Inc (OTC: LRSV) is one of the names that has gained interest during the late month of 2020, as investors started to pick up shares based on the increasing daily average volume. Sometimes stocks trend higher on improving sentiment among investors for a specific industry. We’ve discussed the company numerous times in the past and watched it climb from under a penny last year to over 8 cents toward the end of last week.
Link Reservations Inc is CBD Petcare provider dedicated to improving the health and life conditions of pets worldwide. Developing and marketing hemp-based CBD products for cats, dogs and horses, the Company is currently present in Europe and in the US. A pioneer in the area, Link Reservations Inc products can be found under its brand LinkResPets (www.linkrespet.com).
The big focus for the company this year is expanding its online footprint. Due to the fact that CBD, traditionally, doesn’t have psychoactive properties, it is more widely accessible.
Two weeks after the company announced the acquisition of both the DailyLifeCBD, a website selling CBD products for people, and its existing product line, the company introduced CBD topical creamto its DailyLifeCBD product line. The new product, developed to soothe and relieve irritated and dry skin, will be sold through the Company’s DailyLifeCBD website, and be targeted to people, as opposed to pets.
In a recent report Allied Market Research said: “Holistic benefits of CBD infused skin care products are in spotlight after the legalization of marijuana and cannabis based cosmetics. CBD infused skin product is gaining popularity among consumers due to its calming properties. It has a potential to relive common skin issue through its anti-inflammatory, anti-oxidant properties. CBD-based skin care product also offers various benefits such as improved sleep and also helps in the treatment of various skin conditions such as eczema and psoriasis, as well as acne. The unique benefits associated with CBD based skin care has been capitalized by cosmetic companies. These companies are promoting CBD infused skin care products as “natural cosmetic” in the market. The multi-functional attributes of these products is expected to propel the demand for CBD skin care products.”
The innovative positioning of CBD infused skin care products coupled with effective distribution strategies are expected to boost the CBD skin care market growth well into the next decade.