Many people have become interested in using CBD for many different purposes in recent years. It is used in several products, including body lotion, hair products, and tea. Because of the subsequent cannabis legalization in various parts of the world, many more individuals now see it as a business opportunity, but you’re limited in terms of CBD ecommerce platforms.
The cannabidiol or CBD industry is rapidly expanding. CBD-based goods are in high demand and sold by merchants in every major U.S. state as well as in 40 nations around the world. The CBD industry, just like any other industry, is moving toward eCommerce or online selling. As a result, we have more online CBD retailers and more people interested in selling CBD products.
Consumer interest in CBD-infused products has been steadily increasing since 2016, partly thanks to the promised health benefits and partly due to the close association with the Cannabis Sativa plant.
EAZE, a cannabis distribution platform based in San Francisco, named 2018 the “breakout year” for CBD.
In 2018, the percentage of CBD consumers in the United States more nearly tripled, from 2.6% to 4.8%. The retail market for Cannabidiol products in the US is estimated to reach $16 billion by 2025, from the $2 billion it was in 2018.
Add to that the fact that 80% of those acquainted with CBD support its use (even if they do not personally use it), and it is apparent that CBD is a promising niche for launching an online business.
This article will discuss the different ecommerce platforms available for launching an online store selling CBD-derived products. Let’s begin by understanding what CBD is.
What are CBD products?
CBD is one of the more than 100 cannabinoids or chemicals found in hemp and Cannabis Sativa plants. The most commonly known cannabinoid is THC, or tetrahydrocannabinol, which is responsible for the impairment linked to cannabis ingestion. On the contrary, CBD does not create an intoxicating effect; it has the potential to provide restorative benefits in terms of health.
The CBD industry is constantly introducing new hemp-derived products. If you want to start a CBD business, there are a vast range of products to consider selling.
The following are the most popular CBD products available on the market right now:
Tinctures are CBD oil wellness products made with a concentrated form of CBD. Sublingual products are taken by simply putting them underneath the tongue and letting the oil absorb.
There are numerous snackable CBD-based products on the market today, including gummies, chocolate, candies, and honey sticks. The majority of them portray hemp as less medicinal and closer to wellness treatment.
Vaporizer Concentrates, such as CBD waxes and oils, are another popular product. They are designed to be used in conjunction with an electrical gadget to gasify and inhale CBD products.
CBD topicals for pain and discomfort include creams, gels, and sprays. These products are applied to the skin directly to treat a specific area of the body.
CBD Capsules and Pills
Quite a few patients who suffer from seizures or digestive problems use CBD pills or capsules to cure their symptoms.
Furthermore, CBD is not exclusive to humans. When given a low dose of CBD, animals also experience soothing effects, and many growing businesses sell CBD products for pets such as cats and dogs.
Regardless of which CBD dietary supplement products you choose to sell, be careful with the medical claims and health claims you make, as the products are not FDA approved.
Why is choosing an ecommerce platform for CBD products difficult?
Because of CBD’s regulatory status and legal issues surrounding the cannabis industry, some eCommerce platforms do not allow the creation of online CBD stores. We will discuss why cannabis merchants need to choose an appropriate ecommerce platform for selling CBD products online.
Every industry faces unique challenges. Online CBD vendors are not excluded. As it is a new sector that has only recently gained legal status, it has unique challenges that hinder the ability of start-ups to thrive.
With so many off-the-shelf online stores and integrations readily available, determining the best CBD eCommerce platform for your online store can be difficult. Many CBD product sellers have difficulty finding an e-commerce platform that caters to all aspects of their business across different touch points, such as brand, messaging, product information, curation, purchasing, and personalization.
Some ecommerce solutions support CBD, while others do not. Furthermore, how you choose to process and accept payments is a critical component of increasing sales in your online store.
However, CBD payments cannot always be processed through ecommerce platforms. Choosing a third-party CBD-friendly payment processor or payment gateway that synchronizes with your online store is frequently required.
So, which ecommerce platform is best for CBD products? In the following section, we’ll look at some alternatives.
Best eCommerce Platforms for Selling CBD Products
BigCommerce is easily the best CBD ecommerce site available online. This website provides the most user-friendly and adaptable platform for retailers to expand their CBD businesses online. It also includes several important software and tools that you can use to conduct your CBD business smoothly.
BigCommerce comes out on top as the platform with almost everything your CBD business could need to establish and grow, from B2B (business-to-business) to B2C (business-to-customer). This company is well-known for harnessing some of the most popular brands. BigCommerce works well for both new ventures and established large-scale CBD business owners.
Furthermore, you can use this platform to launch your digital marketing campaign and turn it into an extremely powerful platform that is ideal for the job.
Yes! Shopify is also the market leader in selling various CBD products. While the eCommerce platform does not explicitly prohibit the sale of Cannabidiol products, its Stripe-powered mode of payment does not accept CBD-related payments.
However, you should not be discouraged from working with this esteemed eCommerce platform because you can still employ a third-party payment gateway supported by Shopify. Of course, the downside is that it affects your conversion rates.
However, this is the biggest store for customers to shop for CBD edibles online without further hassle.
Dukaan is an all-in-one web platform that makes it easier to sell CBD products online. You can add new features, optimize online payments, and change the look and feel of your online store.
The platform makes it incredibly easy to launch an online CBD store in a couple of minutes. Given that mobile phones are used by the vast majority of customers nowadays, it is a simple and user-friendly eCommerce platform.
CBD and hemp have limitless online sales potential, and Shift4Shop is loaded with the powerful tools you need to set up the ideal online CBD or hemp store.
Most importantly, Shift4Shop makes it simple to comply with the law by requiring age verification and accepting payment through the required high-risk payment processors.
Rich categorization makes it easy for your customers to access an ocean of flavors, and product bundles make it simple to offer starter kits and variety packs. Most CBD products must be replenished on a routine basis, so you can also offer a subscription service to your customers via this platform.
And, because these are controlled industries and direct marketing isn’t permitted in some of the regular media, you’ll profit from Shift4Shop’s effective SEO tools that will help customers find you.
WooCommerce is a free-of-charge WordPress plugin that enables sellers to convert their WordPress self-hosted content management system sites into more of an ecommerce store with functionality similar to Shopify.
More specifically, sellers receive all the tools and features they need to sell their items and monitor their brand from any part of the world.
WooCommerce gives online merchants complete control and customization flexibility over their websites. There is no such thing as WooCommerce shutting down your website.
WooCommerce is a series of open-source files that can be installed on a variety of hosting platforms. It is among the key reasons why WooCommerce is a full-featured alternative to Shopify for launching a CBD online store.
Square’s CBD is an ecommerce platform that enables you to sell many CBD products online as well as offline, subject to federal laws. The consistent pricing structure is a fresh approach to CBD payment processing, particularly for small businesses that must closely monitor their spending.
Furthermore, Square’s POS and ecommerce store builder integrations allow you to sell in just about any way you want.
Spree Commerce enables you to create an ecommerce marketplace platform that hosts products from various vendors. It has the same capabilities as open-source but with all of the SaaS benefits, such as free-of-cost integrations and features, no maintenance or upgrades, and easy scalability.
Spree Commerce enables CBD businesses to grow and operate without the risks, constraints, and uncertainty that many eCommerce service providers and financial firms impose.
Wix, based in Israel, is a website builder that offers both free and paid plans. It includes a drag-and-drop feature that makes it simple to create a visually appealing digital store. The subscription plans are ad-free. However, the free one contains a lot of advertisements and Wix-branded elements. For the best experience, you’ll want to upgrade your account from the basic plan to the Wix Business plan.
If your company is based in the United States, Wix can be used to sell hemp or hemp-derived CBD products online. Wix has paired up with third-party CBD payment processors so that you can securely process payments on your site for hemp-derived CBD products.
CBD-Friendly Payment Processing Services
Because of the ongoing regulatory shambles, the CBD industry falls into the category of high-risk businesses. As a result, many payment gateways choose to exempt CBD sellers in order to reduce operational risks.
However, you are still not completely without options. To receive payments from your customers, you can work with a specialized payment platform that is experienced in dealing with high-risk transactions.
Payment processors such as PayPal, Stripe, Square, and others will not work in this domain. They are unwilling to take the risk of dealing with a complicated and delicate business. Certain high-risk payment gateways permit CBD transactions, however.
To save you time, we’ve compiled a list of five highly recommended CBD payment processors to get you started:
- Global SMB
- Direct Easy Pay
You may be wondering what constitutes a good CBD payment processor. So, here are four things to keep an eye out for…
Your payment processor must have experience managing high-risk transactions and have excellent security features; this is critical because you have to be sure that you are safe from swindlers. Looking at what other industries a payment processor serves is a good option to see if they have this experience.
Look out for payment processors serving the online dating, pharmaceuticals, and gaming industries because these are also high-risk.
No matter which third-party payment processor you use, you’ll pay transaction fees. These fees facilitate accepting credit cards and other forms of digital payment. Some companies charge more transaction fees than others. Depending on your sales volume, those fees can add up quickly and eat into your profit margin.
Hardly anyone wants to cope with the intricacies of payment processing troubles all on their own, so make sure the company you chose has excellent customer service with technically skilled staff who can solve problems simultaneously.
You require a simple payment processor to incorporate into your ecommerce store.
It simplifies the process of configuring and connecting the payment processor to your eCommerce website.
In the long run, you want to be compensated for your effort and time, so don’t be hasty with this step-focus on finding your ideal payment processor before launching your store.
All in all, CBD has taken over the ecommerce industry. CBD retailers who already have their sites up and operating are reaping the numerous benefits. However, the final decision as to which CBD ecommerce platform best fits your business needs rests with you.