Walgreens has entered the CBD game in direct competition with rival CVS. That’s not unexpected, but a key part of these deals caught even me by surprise. See what this means for you…
Proof that 2019 is the “Year of CBD“ continues to pour in.
Late last week, Walgreens announced it would begin selling CBD products in its stores.
“This product offering is in line with our efforts to provide a wider range of accessible health and wellbeing products and services to best meet the needs and preferences of our customers,” Walgreens spokesman Brian Faith said in a statement.
More to the point, this product offering is in line with the announcement Walgreens rival CVS made days before, which we reported on here.
In a true show of that rivalry, Walgreens is attempting to outpace CVS. While the initial CVS rollout covered 800 stores across eight states, Walgreens will begin carrying the products in nearly 1,500 stores across nine states.
None of this is particularly surprising. As soon as the Farm Bill passed, effectively legalizing CBD nationwide, we knew it was only a matter of time before major retailers stepped into the game.
And competition between chains is not only expected, but also healthy for the growth of the cannabis industry.
But that’s not to say there’s nothing surprising in these deals.
The sale of CBD through major retailers in these states is unexpected, and it signals something huge for the cannabis markets as a whole…
Existing Markets Examined
CBD creams, patches, and sprays hitting the shelves of major retailers in California, Colorado, Oregon, and Vermont seems like a natural progression. States like these already have a robust cannabis presence, and there’s no reason to think residents will hesitate to purchase those CBD products.
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As these products are wellness-based, selling them in states with medical-only markets is a no-brainer. No one should be taken back to see the companies offer CBD in states like Maryland, New Mexico, and Illinois.
And even without legal marijuana, states like Kentucky and Tennessee already have incredibly well-established industrial hemp industries. So it makes perfect sense that both CVS and Walgreens have chosen these states as part of their initial CBD rollout.
But there are a handful of states whose inclusion in these deals is completely unexpected.
Out of Left Field
The decision of these two major drug stores to sell CBD in a few states caught me off guard. Hemp cultivation is far more recent in these states, and there are no serious efforts to see medicinal cannabis legalized in any of them – let alone adult use.
Yet CVS will sell CBD products in Alabama, Walgreens will sell them in South Carolina, and both will sell them in Indiana.
CBD is not just a wellness product with incredible healing potential – it’s the key to normalizing cannabis and penetrating markets no one imagined cannabis would touch in our lifetimes.
CVS and Walgreens are only the beginning. Considering this progress, it’s hard to believe that cannabis in your grocery store is very far away. Don’t be surprised when you see CBD reach the shelves of Target or Walmart.
And make sure you know the best way to position your investments before those products get there. Once this market truly takes off, there won’t be any looking back.
Executive Director, National Institute for Cannabis Investors
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12 responses to “CBD in These States Means Incredible Gains for You”
April 01 2019