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Now that Urbn Leaf has become a reputable company in the industry, Senn said it only made sense for him to expand the store’s locations.
Senn sees his business and work culture as one big family. From his employees to customers who walk through the door, he said, the goal is to make everyone feel welcomed and comfortable.
The dispensary also promotes daily deals and discounts such as the early bird special, where valid medical patients and California residents get 15 percent off their purchase from 7 to 9 a.m. Seniors and veterans also get a 10 percent discount with a valid identification card.
The dispensary’s grand opening is slated for Dec. 6-8 where the first 100 customers get rewarded with gift bags. Urbn Leaf characterizes itself as a retail cannabis boutique that offers a high-end and comfortable atmosphere, staffed with professionals ready to help customers select products to fit their needs.
Senn said he’s been in the cannabis industry for several years now but didn’t completely understand the positive effects that medical cannabis could have on people.
“If we wouldn’t consume it ourselves, we would never put it on our shelf. We’re a very authentic company, and I think that resonates with our customers,” he said.
“Our staff goes through a pretty arduous training before we even launch,” Urbn Leaf owner Will Senn said. “I’d say our customer service and the product knowledge that our bud-tenders have is some of the best in the industry. We really pride ourselves on that.”
Beauty retailer Ulta Beauty (NASDAQ:ULTA) is a fourth brand-name retailer carrying CBD-based products. In mid-March, Ulta announced plans to carry five skin-care products from Cannuka that blend CBD with manuka, a type of honey that’s sourced from bees that pollinate Manuka trees. Ulta is currently able to sell these CBD skin-care products in all but three states (Nebraska, South Dakota, and Idaho) where CBD laws remain very strict.
What Wall Street and investors seem to find most attractive about the rise of CBD is that it may appeal to consumers who might otherwise want nothing to do with the cannabis industry. Since CBD-based products typically contain no traces of, or minute amounts of, tetrahydrocannabinol (THC), the cannabinoid that gets a user high, consumers on the medical and recreational side of the equation tend to be more willing to try CBD-based products.
Three of the most prominent health and wellness retailers to jump on the CBD bandwagon were pharmacy operators CVS Health (NYSE:CVS) , Walgreens Boosts Alliance (NASDAQ:WBA) , and Rite Aid (NYSE:RAD) . CVS Health kicked things off by announcing that it would carry CBD topicals in roughly 800 of its stores spanning eight states in March. Just days later, Walgreens Boots Alliance followed with a corresponding move to carry CBD-containing topicals in nearly 1,500 of its U.S. locations. Most recently, Rite Aid joined the party, announcing plans to carry CBD products in two states (Washington and Oregon). Considering that front-end sales for CVS Health, Walgreens, and Rite Aid tend to have very low margins, the introduction of CBD products may slightly boost margins, or at the very least improve foot traffic into their stores.
These nine retailers have jumped on the CBD bandwagon
But the marijuana industry is far more complex than simply growing plants and selling dried flower to consumers. Rather, there are numerous ancillary businesses and niches within the cannabis space that are thriving above and beyond what we’ve witnessed as a whole. Perhaps no aspect of the green rush is more exciting than the rise of cannabis derivatives and cannabidiol (CBD).
Image source: Getty Images.
A fifth major wellness retailer where a consumer can pick up CBD products is GNC Holdings. GNC recently began selling a variety of CBD-infused topical creams of varying strengths. Known for supplying everything from performance supplements to health and beauty products, GNC’s entrance into the CBD space was a logical move designed to appeal to the full spectrum of its customer base.
Just how popular have CBD products become? Well, nine major retailers, both public and private, are now selling CBD-based products. Here’s a look at the wide gamut of retailers now carrying CBD oils, topicals, and capsules.