Dallas Market Center, anticipating the tremendous business opportunities for retail sales of CBD products, has launched Discover CBD — a comprehensive merchandising, promotion and business education program. Dallas is the first market center in the U.S. to announce support for the CBD segment with opportunities for companies to exhibit, promotion of the category to buyers, and a retailer education program on products and best practices. Discover CBD will debut at the Total Home & Gift Market, January 8 to 14, 2020.
According to the latest research from BDS Analytics and Arcview Market Research, the collective market for CBD sales is expected to exceed $20 billion in the United States by 2024. Roy Bingham, co-founder and CEO of BDS Analytics added: “Our growth forecast for the CBD market, across all distribution channels, predicts a compound annual growth rate of 49 percent by 2024. This is a great opportunity for all involved, but it means the road ahead will include decisions that need to be informed by the best possible data.”
Cindy Morris, president and CEO of Dallas Market Center, commented: “It’s our mission to deliver dynamic new product opportunities for customers, and the explosive growth of CBD is like nothing we’ve seen in years. As consumer demand grows, the purchasing patterns for these products are shifting away from dispensaries and into retail stores, which is a tremendous opportunity for our exhibitors and retail buyers. As we add more products and create a thriving CBD marketplace we will also provide the necessary information and education to help retailers understand these products and position them for sustained success.”
The range of CBD products available at Dallas Market Center may include cosmetics and personal care/wellness, pet products, and food and beverage. A wide array of products are already carried by a growing number of Dallas exhibitors including Cliff Price, Cathy & Co, Portico, Goetz, and Diverse Marketing. Supported by the Discover CBD initiative, the number of resources in Dallas is expected to expand dramatically for 2020 including opportunities in the Temps neighborhoods.
As part of the launch of Discover CBD, an educational seminar will provide an overview of the CBD business, explanation of applicable laws, and a survey of current products and retail distribution. The seminar will be presented by retail expert Warren Shoulberg, currently serving as senior contributor to Forbes.com and contributor to The Robin Report after an extended career at leading publications including Home Textiles Today, HFN, and Gifts & Decorative Accessories—where he remains a contributing editor.
To help promote Discover CBD, participating exhibitors will benefit from marketing support including media relations, social media promotion, editorial coverage in Spark magazine, email content, on-site promotion, displays, and more. In addition, a new product category listing will create easier search results on the Dallas Market Center web and mobile app.
CBD products, also known as cannabidiol, are derived directly from the hemp plant. For retailers, the products available in the marketplace represent a segment with a higher margin than traditional products in the same categories.