Cannabidiol has been consumed more often as a supplement and as an additive over the past few years. The cannabidiol market is still in its infancy, and this makes huge chances for businesses that effectively tackle both consumer and market challenges before their competitors do.
In spite of the excitement around CBD, particularly in America, research by FMCG Gurus revealed that just one out of ten users globally told that they consume items containing cannabidiol. Just 39% of customers around the world are aware of cannabidiol oil. For CBD brands, this means there is scope in investing in the global cannabidiol business.
Globally, 52% of customers first got to know about cannabidiol from loved ones. This suggests that an important factor that affects cannabidiol’s awareness is word of mouth. At the same time, 44% of customers around the world told that they came to know regarding the substance from the internet. With the market evolving, brands should discover how to reach out to customers and get their trust.
A different challenge for them will be regarding the perception of cannabidiol safety and effectiveness. The ‘FMCG Gurus’ company defines cannabidiol items as those having concentrated legal types of cannabis plant extracts, thought to provide mental and physical health perks. When that definition just entered their mind, 40% of customers globally told that they are ready to try the products. On the other hand, 29% of customers told that they are unwilling to consume these items.
The biggest contributing factor for this negative consumer attitude is the uncertainty regarding the goods. For instance, 41% of those customers said that they lack knowledge of cannabidiol, whereas 38% of them are bothered about likely side effects. Customers expressed concern, but had their awareness regarding cannabidiol been better, more would have been tempted to try it. This underlines that CBD brands have to present the right details so that customers can better know and trust products containing them.
The cannabidiol market may be turning more popular as several customers are ready to consume the items for numerous health conditions. As a brand, however, you must be aware of the barriers to success in the market. First of all, you must help customers better understand CBD health benefits and possible side effects. Informing customers that it has only minimal and manageable side effects, such as dry mouth, could help you bring a positive change in customer awareness.