E-Commerce Helping Pet Owners get Their Paws on #CBD #Pet Products (CSE:CURA.C) (OTC:LRSV) (CSE:VIDA.C) (OTC:PHVAF) (OTC:ELLXF)
Point Roberts, WA and Delta, BC - June 7, 2019 (Investorideas.com Newswire) Investorideas.com, a leading investor news resource covering hemp and cannabis stocks releases a sector snapshot reporting on the CBD pet market as more companies enter the sector with a heavy focus on e-commerce sales.
Curaleaf Holdings, Inc. (CSE: CURA) (OTC: CURLF), a leading vertically integrated cannabis operator in the United States recently announced the launch of Bido hemp-based CBD products for pets. CBD has been shown in initial third-party studies to support a pet's overall wellness, including the potential to help manage pain and anxiety. Bido Pet Drops come in three varieties, bacon, salmon and unflavored "pure," and Bido Soft-baked Bites are available in apple chicken, peanut butter bacon, and honey sweet potato. All Bido products can be purchased online at www.curaleafhemp.com.
Bido's tasty products were developed using 100 percent natural and US grown hemp that was tested and extracted to the highest industry standards. Curaleaf's team of scientists transformed the hemp-based CBD oil into a product with a precise dosage and flavor for pets.
All Bido products undergo strict laboratory testing before formulation as well as batch testing on the final products before distribution. Lab results are available upon request.
"Our human customers are already reaping the benefits of CBD with Curaleaf Hemp. The same care and research went into the development of Bido. We are excited to be extending our high quality, trusted products to pet owners," said Joe Lusardi, President and Chief Executive Officer of Curaleaf. "The launch of Bido is just one more way we are the most accessible cannabis company in the US."
In a recent New York Post article, "New York dogs and cats are turning to pot to deal with ailments like chronic pain and seizures - and just to mellow out after a long day walking for The Man, according to their owners and dealers."
"Phoebe is a little high-strung and it kind of takes the edge off her - like adults," Long Islander John P. Delafuente, 37, told The Post of his Cockalier's habit for CBD-infused dog biscuits.
"She has a hard day in the city, a lot of noises and other dogs barking. We recently started giving her biscuits and she just chills," he said.
Ronnie Almani, the owner of West Village CBD store, Hemped says his CBD-infused chicken biscuits and steak bites are flying off the shelves.
LinkResPet, a subsidiary of Link Reservations Inc. (OTC: LRSV), a company providing Cannabidiol (CBD) products especially tailored for pets, announced the launch of its e-commerce site, allowing consumers in the US and Canada to be able to purchase LinkResPet's CBD products for dogs, cats and horses on www.linkrespet.com, which was purchased in February 2019.
Pet owners are increasingly going online for their pet's needs and products. A recent report noted that 40% of pet owners in the US purchase pet products from online retailers. It's easy to understand the rise in e-commerce, with benefits for consumers including the increased variety and availability of options, greater accessibility, and ease of delivery to their homes. Taking this onboard, LRSV's LinkResPet site will be transformed into an e-commerce platform, allowing customers to buy CBD products for dogs, cats and/or horses from the comfort of their device.
"For us, it makes absolute sense to enter the CBD B2C market with an e-commerce platform. There is a huge opportunity for LinkResPet, with the number of people increasingly buying products online and further ease and accessibility," explained Rene Lauritsen, Link Reservations Inc. CEO. "We are focused on delivering the highest quality product in the most approachable way for the customer, having an e-commerce platform is the first step for that. Beyond being easy to control and maintain, starting with e-commerce ensures that we remain dedicated to the product quality and swift experience for the customer as opposed to intricate logistics that arise from brick and mortar shops."
In fact, e-commerce is becoming the most popular shopping medium in key territories. According to Absolunet, e-commerce is expected to account for 15% of all specialty retail sales in North America, with digital influencing nearly 60% of all retail sales. Mobile helped fuel sales, which increased 55% in a year, while e-commerce in the region grew by 16% in 2018 to over $500 billion. Europe is also proving a fruitful market for e-commerce. According to Emarketer.com, ecommerce sales in the EU-5 (France, Germany, Italy, Spain and the UK) are expected to exceed $325 billion this year and surpass $400 billion in 2022.
"The key aspect for us is that our LinkResPet e-commerce site will ensure people are not only able to easily find the product they need, but also find a variety of information on the site, while browsing from their preferred device without having to go out of their way to find it," added Lauritsen.
Additionally, the company will also offer subscription options, which would allow customers to get a package of CBD treats for their pets each month or quarter. Pet owners would be able to curate their own product boxes with the treats their pet likes best and have a recurring order with their preferences.
On this, Lauritsen explained, "Now that the site is live, we are aiming to trial different subscription options and see if they are the best fit for our customer. This aligns with our mission of making high-quality CBD products accessible to pet owners. In our eyes, it simplifies things and ensures they get the products they need on a regular basis so they never run out. A subscription option is one of the many choices we want to put in front of customers, along with curated packages and potentially a referral system, to make sure we are catering for both their needs and their pet's."
Phivida Holdings Inc. (CSE:VIDA) (OTC:PHVAF), a premium producer of CBD/ Active Hemp Extract infused functional beverages and health supplements recently announced that they intend to introduce a range of hemp-derived CBD pet products. With a strong focus on providing consumers with a healthy alternative to pharmaceuticals, and a fully natural and plant-based health and wellness solution, Phivida's new product line will provide a similar offering to pets.
"Our mission is to provide the highest quality Hemp CBD natural wellness products for our consumers," says Jim Bailey, President and CEO of Phivida. "By expanding into the pet CBD category, our goal is to provide pet owners with the option to support their pets' wellness needs for everything from sleep to stress reduction."
Research conducted by Nielson has estimated that Americans spent $33 billion on pet foods and treats alone in 2017. According to the Brightfield Group, CBD pet product sales increased from $8 million to $32 million in the last two years and is poised to reach $1.16 billion by 2022.
Initially, the new product range will consist of tinctures in three concentrations formulated for small, medium and large pets as well as an oral spray. Pet treats are planned to be introduced to the market as the US Food and Drug Administration clarifies the regulations around edible CBD products.
"Myself and many of our team are pet owners," added Mr. Bailey. "It is very important to all of us that these valued family members have all the support they need to enjoy a high quality of life. The products will be produced to the same high standards as those for human consumption, and we are committed to listening to pet owners and extending the offering to meet their needs."
Elixinol Global Limited (OTC: ELLXF) (ASX: EXL), one of the most influential CBD brands in the world, with nearly three decades of experience in the hemp industry announced earlier in the month that they have purchased a 25 percent stake in Altmeds LLC, maker of the pioneering and market leading Pet Releaf hemp-derived CBD pet line. Pet Releaf sales accounted for approximately 65 percent of the market's pet CBD sales last year.
Pet Releaf hemp-derived CBD topical, edibles and oils for pets currently sell in over 4,000 independent pet stores throughout the USA and multiple international markets. By acquiring a stake in Pet Releaf, Elixinol will strengthen its relationship with a major private label partner and secure a profitable investment in the fast-growing hemp-derived CBD pet products market, while ensuring Pet Releaf has the financial resources to innovate, expand and scale.
"Pet Releaf and Elixinol share the same values in sourcing and end-product superiority," said Stephen Smith, President and Co-Founder of Pet Releaf. "The partnership of two best-in-class companies means Pet Releaf will gain additional working capital to be able to expand our reputation for innovation, and increase our scientific and international expertise while still maintaining our 'from seed to sale from plant to pet™' approach."
Elixinol is the exclusive supplier of final hemp extract sourced from the USDA Organic certified hemp strain grown specifically for Pet Releaf. The founders of Pet Releaf and Elixinol have shared scientific, farming and production ideas, expertise and strategy for many years. Since inception, Pet Releaf has been a foundational customer of Elixinol with both organizations starting in Colorado in 2014. Together, the two strong brands leverage seed to sale supply chain efficiencies with extensive scalability, in-house scientific expertise and proprietary processing technologies.
Pet Releaf will use the majority of the investment to fund working capital and scale the business for expected continued growth in the market, through new product lines, key strategic hires and increased capacity in a new state of the art 25,000 square-foot production facility.
"Pets play an important role in the lives of many Elixinol customers," added Chris Husong, VP of marketing and communications at Elixinol. "Pet Releaf products give pet owners peace of mind by using the same quality CBD hemp in their pet treats as Elixinol uses in our human products. We're excited to strengthen the relationship with trusted pet products brand and partner, Pet Releaf."
The CBD pet space has been a hot topic for several months now, and there is a lot of anticipation and expectation around how big this market will grow, but now with real products on the market and consumer accessibility improved through e-commerce, we will soon have tangible results for this sector. E-commerce access is now available for US and Canadian consumers and it's up to our furry companions to choose which brand(s) will see proper sales growth in the coming months.
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