Retail

DSW To Sell Cannabis-Based Products

Green Growth Brands announced that it has entered an agreement with shoe retailer DSW to sell hemp-derived cannabidiol (CBD) personal care products at select DSW stores throughout the U.S.

The products will come from Green Growth’s Seventh Sense brand, which offers high-quality CBD-infused products at affordable prices, including muscle balms, body lotions, body washes and foot creams. The move comes after both companies participated in a successful test phase last fall, selling Seventh Sense products in 10 select DSW stores. During the first 10 weeks, 74.4 percent of products presented on shelves was sold, which exceeded expectations.

"DSW is the No.1 full-line adult footwear specialty retailer in North America," said Peter Horvath, CEO of Green Growth Brands, in a press release. "They have revolutionized shopping for shoes and accessories, and we are thrilled they chose to partner with our company, allowing us to introduce a new product category to their customers."

"The agreement, and the deepening relationship with DSW, is the first step in our strategy to expand sales of personal care CBD products through external partnerships, in mall kiosks, and through a growing number of stores and online," he added.

As a leading branded footwear and accessories retailer, DSW operates a portfolio of several concepts. Designer Shoe Warehouse, its primary concept, boasts 515 warehouses in 44 states. In addition, accessories, including beauty and wellness products, is a growing category for the company and will continue to play an important role in its growth strategy.

"We have seen recent shifts in consumer behavior accelerate changes in the retail industry," said Roger Rawlins, CEO of DSW Inc. "North America's widespread adoption of the use of CBD products is one of the best examples of these shifts, and we could not be more excited about our partnership with Green Growth Brands and the introduction of their products to our customers."

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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