Published On: Tue, Dec 31st, 2019

Why CBD Could Be a Significant Part of Shopify’s Growth

Shopify recently announced that starting on September 17th, 2019, they will be lifting the restrictions placed on the sale of CBD products on their platform. They couldn’t have chosen a better time for this.

Now, more than ever is the perfect time to get into the CBD industry. The demand for CBD products has witnessed a noticeable increase. With all the attention surrounding the product and increasing global interest, Shopify sure chose the perfect time to allow online merchants to sell CBD on their platform.

Riding towards global dominance

As one of the fastest-growing health niches in the market today, the CBD industry is expected to be worth a whopping $22 billion by 2022. The average American has been exposed to and is now more knowledgeable of the potential benefits of CBD and at such has also picked a keen interest in the product.

This class of interested individuals includes consumers who are keen on deriving the benefits of CBD products and merchants who are looking to cash in on its ongoing popularity. CBD hemp oil, which is made of cannabinoid CBD, has taken the nutritional supplement world by surprise, offering different brands of beneficial CBD products for individuals across different walks of life, from adults to children, to pets such as dogs, and cats.

As a result of this, Shopify is now on the verge of attracting a new crop of customers to their already growing audience, both buyers and merchants interested in selling CBD online.

Types of businesses selling CBD

Business owners and entrepreneurs all over the United States are taking advantage of this surge in the demand for CBD and require platforms to deliver their products. This means there have been more signups on CBD legalized platforms like Shopify, WordPress, and Wix, among others. As such, more businesses have begun providing their customers with CBD products in the United States as a result of the numerous benefits attached to them.

This process will certainty signal a significant amount of growth for Shopify, as Shopify will attract many distinct types of business owners to their platform who are looking to sell CBD. For one, medical professionals have already started offering CBD hemp-derived products for sale in their clinics. It’s only a matter of time before they realize the massive potential and profit they can gain by selling CBD online.

Additionally, health food stores are also cueing in on the CBD business. It is now common to find more CBD products on their shelves. If they have no done so already, they are going to come to the conclusion that creating an online store is not a bad idea. Aside for health food stores, smoke shops and cannabis dispensaries also offer hemp-based CBD products to their customers. They are at liberty to choose what works best for them, and can create online stores on the Shopify platform as long as its focused on selling hemp-based CBD and various paraphernalia and accessories.

As you can see, there are a growing number of businesses that are getting into the CBD industry. Given its recent move toward accommodating CBD businesses, Shopify might just be able to provide them with that platform that will push their online-based CBD business over the edge, or encourage them to start one in the first place.

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