The coronavirus pandemic has taken a huge toll on all our lives. Everything from industry to social life has changed, and sadly, will probably not get better soon. With businesses shutting down and millions of people jobless, many are wondering what will happen to the CBD industry.
Most CBD brands are based locally, and as such, require shops to be open. However, as a result of curfews and lockdowns, fewer and fewer people are going shopping. That is a huge blow to local CBD brands as they are struggling to compete with online retailers.
Yet another result of the pandemic is an overwhelming increase in stress levels and anxiety. Given that CBD is a well-known treatment for those issues, one would think this situation would be a huge win for the industry. Sadly, that mostly applies to online shops, as they seem to be the ones that can handle the big industry crash more easily.
Nobody was prepared to face such a calamity, so there is a lot of confusion and questions regarding CBD. We are going to take a look and see how it has all changed the CBD scene.
Is CBD A Good Coronavirus Treatment?
There is some misinformation regarding CBD being a potential coronavirus treatment. However, one thing is clear — CBD does not work against the virus. Dr. Andy Yates stated in an interview that, “There is currently absolutely no evidence that CBD can play a role in altering the course of coronavirus (COVID-19) disease and I would strongly urge the CBD industry to stay away from making any suggestions, however subtle, that it does.”
Still, it’s important to note that some studies have shown how CBD could help people with autoimmune disorders. The results are still up for debate but nevertheless, one thing is sure — CBD is not a coronavirus treatment.
Does Using CBD Make Me Vulnerable to Coronavirus?
Another thing that’s up for debate is whether or not smoking CBD is a risk factor for coronavirus. It’s all up for interpretation, as there is no proof for or against that statement. There were some reports stating that young people who were vapers have been hospitalized for coronavirus. But it may all be circumstantial with little to no hard evidence.
Even so, a study has highlighted the link between vaping and potential lung damage. The general consensus is that smoking or vaping can compromise the respiratory system. As a result, the ability to fight coronavirus can be negatively influenced and it will increase the chances of long-term damage. We recommend switching to CBD tinctures if you want to be careful or are afraid of lung problems.
The Law Keeps An Eye on CBD False Claims
Everybody fears the unknown and is naturally more susceptible to false news and claims. When it comes to CBD, the issue is far more complicated than it seems. The CBD industry is widely unregulated and has constantly been under attack because of that. From mislabeled products to plain lies, CBD has quite a reputation.
To combat false claims, the FDA has recently issued a warning to companies that were promoting products as cures for coronavirus. Afterward, the FDA commissioner stated that the agency will be monitoring companies that make such claims. The issue seems to be resolved by now, as there were not that many CBD companies making false claims. Overall, we believe that the FDA’s close watch will ensure the end of any fake news.
How Many Consumers Turn to CBD?
As previously stated, anxiety and stress levels are increasing because of the pandemic. With the danger of going outside and millions of people out of work, many of us are hit by depression. There’s little to no surprise that more people are relying on CBD as well as kava to help with those problems.
A survey, conducted by Brightfield Group, has shown that 39% of users expect to use CBD more during the pandemic. Specifically, 49% of millennials are showing interest in using CBD against corona-related anxiety and stress. Furthermore, there has also been an increase in online sales. It’s clear that most local businesses stand little to no chance when competing with online giants.
How Do Retails Closing Influence the CBD Industry?
Even though more and more people are willing to try CBD, the overall prospect is dire. Lockdowns, curfews, and restrictions are deeply damaging the CBD retail industry.
As Brightfield Group states, “Smaller brands often rely on small or local retailers to distribute the bulk of their products. In the current environment, the mass closing of retailers around the country is likely to deal a death blow to many of the smaller brands in the market.”
All of that adds to the problems that CBD was already facing even before the pandemic. Overcrowding and the limited access to capital were making it difficult for small retailers to stay open. The writing is on the wall — online sellers will make it through the storm while local brands will most likely shut down.
Where Can I Buy CBD?
Big online stores are the go-to option for most people during the pandemic. Major brands will not miss the opportunity to offer special discounts to online shoppers. And while that’s not necessarily a bad thing, we can all do our part and help local businesses.
For example, some retailers have their own delivery service and will be more than willing to bring the product to us. Others are still doing delivery despite their onsite location being shut down. It’s always best to google your favorite local shop and see how they do business now. Local businesses require our help now more than ever, so try to focus on those when shopping for CBD.
Wrapping It Up
All in all, the CBD industry is no different than most businesses out there. It’s clear that the coronavirus pandemic favors those that are constantly adapting and moving toward e-commerce. The light at the end of the tunnel is the fact that more and more people are turning toward CBD.
Overall, the best we can do is try and help local businesses as much as we can. Buy from local retailers and always recommend them to your friends and close relatives. CBD is important for everybody so let’s do our best and prevent the industry from dying down.