As cannabidiol (CBD) moves the mainstream, convenience stores are in prime position to benefit from the product’s rapid growth.
U.S. sales of hemp-derived CBD products reached $4.2 billion in 2019, a 562% increase over 2018, according to Brightfield Group.
While few consumers had heard of CBD prior to 2018, the signing of the Farm Bill in December 2018 — which removed hemp from the legal definition of marijuana and the Schedule 1 Controlled Substances list — helped usher in exponential growth through extensive media coverage, expanded product availability including in drug stores and pharmacies, and widespread word-of-mouth through social media. Sales of CBD products through convenience and gas stores grew by 2,276% in 2019 to reach $122 million.
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