The holiday season is over, and many CBD oil (and THC) enthusiasts feel it is time to restock for the year. Some think we should stick to our favorite products if we already have any. After all, why fix something that is not broken?
However, there is exciting news in the cannabis world for 2023, and we´re ready to share it with you before you all go on a shopping spree.
The legalization of cannabis products has seen a massive push in recent years. This made Google relax its rules regarding ads, although some might complain that it comes with too many strings attached. But it was a positive development, nonetheless.
The Biden administration seems to be taking steps towards federal legalization, and this creates a new wave of expectations in the cannabis market. Companies are reacting by launching new flavors and varieties to the market and finding new and exciting ways to reach new markets. A host of innovative brands are thinking outside the box, promising exciting new options for both connoisseurs and newcomers, and many of them are finding ways to promote and sell their products, making use of all the human ingenuity they can muster.
Here are some of the changes we will probably see in the cannabis industry in 2023.
Renewed focus on wellness
The healing properties of CBD oils and hemp-based products can no longer be ignored. The problem is not finding out if cannabinoids have a positive effect on wellness but how much. Science today is less focused on disproving what everyone knows and more on quantifying the effects of this marvelous plant.
Common sense dictates that brands should not make any medical claims about the use of cannabis. But as enthusiasm for products that boost wellness increases, the interest in the hemp industry to find hard data about the benefits of cannabis has pushed many to team up with universities and government research facilities to study its properties.
The goal is to provide undeniable evidence on its benefits at a cellular level and make people more comfortable with the idea of integrating CBD oil and THC as part of their wellness routines. Science-backed hemp products will open a lot of doors in this industry and will increase public confidence in natural solutions, thus eliminating the negative stigma that persists to this day.
Marketing hemp products is not easy. The most important advertising channels today try to stay away from products whose legal status remains in very gray areas. As a result, social media and search engine providers remove or strike down content to this day. Even the way we word things online is under constant scrutiny, so posting the wrong thing on a blog or review board can put a business in a world of pain.
This has made a lot of brands and companies get creative and think outside the box when it comes to promoting their products.
One thing we will see during 2023 is an increase in partnerships with celebrities, venues, and even sports leagues. In 2021 Mike Tyson went all out with his own direct-to-consumer cannabis business, and other high-profile celebrities like Willie Nelson and Gwyneth Paltrow are also taking the first steps into the industry in an attempt to generate interest among their massive pool of followers.
Some brands took notice and have started to explore these captive audiences, launching exciting campaigns. One of the best examples is 3Chi.
After establishing itself as a premium brand for being able to revolutionize cannabinoid extraction and purity, 3Chi became one of the most trusted names in the industry for its focus on scientific research and quality. The brand also was the first to create THC products that comply 100% with federal regulations.
Their reputation allowed them to become the first brand to be allowed to sponsor a NASCAR driver, giving it nationwide visibility among non-traditional audiences.
It seems the cannabis industry is taking some pages from the alcohol sector. Thirty years ago, hard alcohol producers could not run ads on national TV. They overcame this limitation by teaming up and agreeing to stick to a marketing code. Major brands presented their new standards for advertising to media platforms and government agencies, indicating they would follow stringent codes of conduct.
The cannabis industry seems to be moving in the same direction, focusing on responsible consumption, moderation, and safety. The move might open the door for additional brand sponsorship opportunities in other major professional sports platforms in 2023 and beyond.
However, other more traditional advertising channels, such as out-of-house billboards, are still being leveraged by many businesses. OOH is very difficult to measure in terms of visibility and impact, but they allow hemp-based companies to advertise their products without the risk of being flagged or taken down.
More cannabis-based products
One of the main quips people have about cannabis is that they associate it with tobacco and cigarettes. While flower still remains popular, many companies have come up with new ways to enjoy the benefits of CBD oil and THC that do not involve inhalation.
Edibles and gummies are a favorite today as they can be chewed discreetly and have a great taste. Moreover, users have better control over dosage and effects as manufacturers today guarantee uniformity and quality.
Still, the public remains apprehensive regarding hemp products.
We believe this will change in 2023 as product innovation delivers a broader variety of cannabis-infused options that will remove old stigmas from our collective minds.
Cannabis-infused seltzers and beverages report the fastest growth rate among newcomers. The main reason is that drinks are more socially acceptable and can replace the typical glass of wine or pint of beer as they do not come with the obnoxious side effects associated with alcohol.
The time has come to open the floodgates of human innovation in the cannabis industry. 2023 promises to allow for several steps to be taken in this direction, and Δ8 THC Austin will make sure our customers have access to the best and latest hemp-based products.