Retail

Kroger To Bring CBD Products To Stores

To tap into one of the hottest emerging consumer trends, Kroger will sell CBD in almost 1,000 stores.

The grocer will sell topical CBD products derived from hemp such as balms, oils and creams in 945 locations in 17 states, CNBC reported.

A spokesperson for Kroger said, according to the outlet, “Like many retailers, we are starting to offer our customers a highly curated selection of topical products like lotions, balms, oils and creams that are infused with hemp-derived CBD.” The company will sell the products in states such as Arizona, Washington, Indiana, Kansas, Kentucky, Tennessee, West Virginia and Michigan, among others.

The move comes as the grocer aims to contend with Walmart and Amazon by repositioning its business. With Restock Kroger, the company has been bolstering delivery services and digital sales to stay up-to-date with consumers’ changing shopping habits. Kroger has also strengthened its ties with Walgreens: In 2018, it was reported that Kroger items would be sold on the shelves of 13 Walgreens locations.

News surfaced in March that Walgreens would be selling CBD products at nearly 1,500 of its stores in select states. Walgreens Spokesman Brian Faith told CNBC in March, “This product offering is in line with our efforts to provide a wider range of accessible health and well-being products and services to best meet the needs and preferences of our customers.”

Nearly 7 percent of Americans say they use CBD products, which is higher than the 4.2 percent who use e-cigarettes. According to an analysis by Cowen & Co. released in February, the market could reach $16 billion by the year 2025.

——————————–

Latest Insights:

Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. In the December 2019 Mobile Card App Adoption Study, PYMNTS surveyed 2,000 U.S. consumers for a reveal of the four most compelling features apps must have to engage users and drive greater adoption.

TRENDING RIGHT NOW