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Cash In on the Green Rush

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Posted 11th June 2019 at 02:34 PM by solomonm

Today I am talking about CBD. It is a booming industry with a potential to become a $22 billion business by 2022.

Congress in December legalized CBD derived from hemp. The nonintoxicating cannabis compound is being added to just about everything, including makeup, tea, pet treats, coffee and soft drinks — despite the FDA expressly prohibiting companies from adding it to food, beverages and dietary supplements.

Even though consumers’ interest is surging, many retailers such as Walmart and Target have largely stayed on the sidelines from this trend for now. Walgreens, CVS, Rite Aid and specialty retailers GNC and Vitamin Shoppe have introduced CBD products to stores in a handful of states, while luxury department store chain Barney’s earlier this year opened a “cannabis lifestyle shop” in its Beverly Hills store, called “The High End,” selling exclusive vaporizer pens and pastilles.

Mall owners, meanwhile, seem to be less risk averse. They were on the hunt for new tenants as a wave of store closures from the likes of Payless Shoe, Gap, Charlotte Russe and Dressbarn is hitting and leaving empty storefronts behind. Traffic has been falling off as more people are shopping online. The hope for Brookfield, Simon and other real estate owners is that these CBD shops will offer a unique experience that consumers seek out and can’t find elsewhere.

All these buzzes a green rush businesses opportunities for many.

I will talk about the benefits of CBD in my next writing.

Have a good day
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