The Costs of CBD
There has been sustained growth in the popularity of CBD in recent times, and this trend continues in that direction every day as more professionals and consumers recognize the health benefits of the hemp-cannabis-derived compound. Cannabidiol (CBD) is a non-psychoactive compound derived from the hemp plant, or cannabis plant, that is known for its ability to treat chronic pain, inflammation, anxiety, and insomnia, among other conditions. The current novelty of the CBD industry has left consumers scratching their heads in trying to decipher who is a reliable brand and who can provide reliable information about their products. With demand for CBD scaling rapidly, businesses are having trouble standardizing pricing in their efforts to bring cannabidiol to consumers.
A Quick View
Overall sales for CBD are projected to reach $2.1 billion by 2020, far surpassing numbers seen in previous years. This has left prices for CBD not only steep, but in a constant state of variance among businesses in the industry. Furthermore, quality and dosage information is often elusive and scattered among these products, leaving consumers in an expedition to track down a quality product that both serves their needs and falls within his or her budget. Time will hopefully have an impact on minimizing these issues, though it’s up to businesses to pave the road for economic feasibility. This is where we believe we have the ability to make a real impact in the industry. Fair prices are something that we all should be seeking as a wellness based community.
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Discerning a quality product is difficult for customers seeking the health benefits of CBD. In addition to the many steps involved in running a retail or manufacturing business, detailed safety-assurance procedures add a wide range of moving parts required to bring a quality tested cannabidiol product into your life.
In our experience, we have noticed that customers struggle while searching through CBD prices that are inconsistent across companies, and they end up suffering when a lower price may entail a lower quality product. The inescapable fact of the matter is that there are costs involved in growing plants, deriving CBD from cannabis, testing these plants, oils, as well manufacturing processes... and these costs will be translated into the final prices that consumers pay to their providers. This is where pricing issues arise, as not all companies are honest about exactly what they are using in their products and what goes into making them. This issue boils down to making sure that pricing for a good is consistent along the industry and is relative to the costs associated with producing that product.
What to do?
When your health is on the line, it can be beneficial to pay top dollar for a product that has a guaranteed standard of quality that will yield the most successful benefits for you, just be careful not to fall victim to price gouging. Paying attention to details such as concentration of your CBD product. This can point you in the direction of a more effective product. A higher concentration of cannabidiol will ultimately yield more pronounced effects, but the CBD content and purity must be proven and made evident on the packaging. With dosage information for certain medical conditions unclear, everybody may have a different experience navigating products and dosages. Just make sure in what you choose that the labels are clear and that you sufficiently trust the brand before you purchase their goods. The CBD, and cannabis industry, are still young and under-regulated. This means that a lot of this burden falls on you, the consumer, but we’re here to help!
Investing in yourself
Ultimately, an investment in your health is an investment in yourself. Assuring you choose high quality products is something that you owe to yourself. While the prices of CBD are steep, continued growth in the industry will hopefully lead to a natural stabilization of the numbers that consumers face across the board. At Soothe we are committed to streamlining costs and ensuring quality for our community members. Cost is a temporary obstacle standing in the way of the countless individuals who have the opportunity to experience the benefits of CBD. We firmly disprove of this problem and we have built this concept into our company’s foundation. This has lead us down a path of differentiating fair pricing for our customers. At the same time, we pride ourselves in remaining as transparent as possible about what our products do, and how they are produced. You can always feel comfortable with Soothe!