Episode 30: More Gummies More Sell-Through



Joe: On this episode of the CBD University Podcast, we continue our special three-part series on the launch of our CBD Gummies across our Hemp Bombs and Nature's Script product lines, our wholesale and retail partners who take advantage of more sell-through and more education with our new acrylics, and customers will notice a new look to the brands that they have come to trust for CBD products in the retail industry. This is the CBD University Podcast and it starts right now.

I'm Joe Agostinelli, the host of the CBD University Podcast. If you are returning listeners, thanks for tuning in once again, if you are a new listener, we are glad you found us on your podcast platform of choice. You can also see full video episodes of our podcast here on the Global Widget YouTube channel if you are watching, or the YouTube channels of our brands. This is episode number 30. It's hard to believe more than 13,000 downloads as we approach 15,000 since our launch in November. And a year of more, as you can see the new poster depending on the angle. You'll see it shortly, depending on if you're watching on the YouTube channel on the angle once we talk to Vince. A year or more has turned into our summer of more, part two of our three-part podcast series, looking at the launch of our CBD Gummies, which we launched a couple of weeks ago from Hemp Bombs and Nature's Script. We'll literally discuss the new look of packaging the customers will be seeing in retail locations, and our amazing house graphic design team, and I just talked about that new pollster you'll see shortly and some fancy new-looking displays that you'll begin seeing rolled out across in more than 25,000 retail locations. Our products are located nationwide to help me go through all that and the guy who makes sure that all those customers are happy and does a fantastic job doing it and our vice president of sales Vince Gillen. Vince, welcome back to the podcast, all dressed up for episode number 30. I should have worn my tie.

Vince: Just for you, Joe. Thanks for having me.

Joe: Wow. Thank you. All right. So, let's just start right away. Let's start off with the look. We have new displays for our distribution and retail partners, and what went into the thinking of the new displays, and how do these new acrylics or displays lead to more sell-through for our retail partners?

Vince: Well, what we tried to do is really make something that maximized, you know, the visibility of the products being CBD in the store. So, you know, we added a topper to it now that says "CBD sold here," matches both, you know, Hemp Bombs or Nature's Script and the Perfect Pause brand. But, again, I think when you look at the displays, we took a lot of the feedback we got from retailers and our distributors. And I think they look amazing, you know. When you walk into a store, there's absolutely no way you can't not see that display if it's put in the right spot, so we're really excited about that. We also added the price points and being that we did just increase the milligrams on the gummies and some of the other products like the Tinctures, we also wanted to call that out as well, so we're really, really happy with the way they look.

Joe: Yeah. A lot of the familiar products that you will see at retail locations, and I alluded to it in the introduction, but the whole year of more so a long way and the gummies is just the latest ones. We'll get back to the gummies. But let's just review a couple of points you just mentioned. The oils were updated in May, the Pain Freeze prior to that with more CBD, the one-ounce container now has 100 milligrams. The four-ounce has 400 milligrams. Then there's a High Potency version.

Vince: Which is 1,000.

Joe: Which is 1,000.

Vince: Yes.

Joe: And then the Pain Freeze now also comes in a roll-on application that's got 200 milligrams per bottle.

Vince: Correct.

Joe: And now the oils range from 300 milligrams to 5,000 milligrams, all without raising the...

Vince: The retail

Joe: The SRP.

Vince: Yep. Correct. So, you know, the cost of raw materials, particularly when it comes to CBD has come down with us having our extraction equipment in place now. We wanted to, you know, take that savings and pass it on to the retailers and then, you know, to their customer, so it's definitely a win-win for us. I think we're ahead of, you know, where some of the other brands are in the market, so we're really excited about it, and I think, you know, you're gonna start seeing probably other brands start to do that, but for now, you know, going, you know, on the gummies, or let's just say the Tinctures that we were talking about, it was 300 mg for $39.99 retail, and now it's $19.99, so literally in half, which is great because a lot of people want to try, you know, a little bit higher dosing and they get just more value.

Joe: And speaking of more value, going back now to the gummies along with the displays, we've also redesigned the look of the packages and the bottles, and I do invite you to tune into our YouTube channels. I mentioned on the introduction for some video extras to this podcast episode as we'll be showing off the bottles. And we've got a few here in our in house podcast studio. Retailers and customers will notice that not only is the display catching, but I tell you what? The new look.

Vince: It's great.

Joe: Nice work. Really jumps out at you.

Vince: Right. Yeah. So, what we wanted to try to do we just make it very clean, but also to make sure there's a huge difference between the Original formula, the Sleep formula, and you have the High Potency. So, you know, with Hemp Bombs, we did green, blue, and then red, so it looks really good on the shelf. These were the bottles here, but, you know, a lot of the new displays we have going out are gonna have the bags. So, also having the call out on the milligrams, you know, being a lot bigger, making sure it says CBD, you know, one thing we did with Nature's Script is that we made it so the packaging actually says CBD on it instead of Hemp Extract, you know. So, I think from a marketing standpoint and just for that brand in general, I think sales will increase alone just with that on the gummy, so we're definitely pumped about it.

Joe: And then no matter the brand, one thing that has not changed is the transparency that is on our labels on both the Hemp Bombs and the Nature's Script brand, obviously, on the back are your nutrition facts, ingredients, and still those scannable QR codes. Also, you know, keeping in touch with us on social media, Facebook, Twitter, Instagram, and YouTube, just a cheap plug there. But QR codes and the QR code still, as you can scan them, one will take to the lab testing and compliance and the other will take the customer or even a retailer, for that matter, to learn CBD. And we talk about more education, especially with our retail and distribution partners, so what additional educational resources do we have when it comes to our products?

Vince: So, yeah, the QR codes are huge on the packaging, just from a compliance standpoint, in general, but we're getting ready to do our second CBD newsletter as well, "The Market Trends," which that's pretty big for us, you know, over the last few years, definitely consider us thought leaders in the space. And it's a great way for retailers and distributors to get information on what's going on in the industry, you know, how to stay ahead with trends, what we're doing internally, what's happening with rules, regulations on a state level, federal level, etc.

Joe: And the second issue that retail trends recently came out, you can find the link on, no pun intended, our LinkedIn page, but also on our Global Widget partner's website. And that just a reminder to retailers and wholesalers to follow us on our LinkedIn channel for the latest news, and information, and educational resources that are available. In addition to the educational resources, we talked about the newsletter, and, obviously, we've had the CBD University. We have the podcast here in addition to the educational resources. What are some of the...? You know, we talked about the design and the new look. What are some of the marketing resource materials in addition to the displays that are available for retailers and wholesalers to ensure sell-through?

Vince: Right. So, I would say the key really now is foot traffic, and generating foot traffic in stores, and CBD is one way to do that, and you look at, you know, what's going on with COVID and certain businesses having to shut down, or maybe have different hours. You know, you want to take advantage of every possible chance to bring somebody into your store, whether they buy CBD or not by using things like the yard signs, window cleanings, tri-folds. You know, there's a lot of resources like that just to bring attention and brand awareness to what you're carrying in your store, you know, really looking at CBD and treating it like every other category in your store, not just having generic signage. It's very important. So, people, you know, as they become more educated, I think quite frankly, a lot of people are educated, especially to the Hemp Bombs and Nature's Script brands. They recognize that as quality products that some of them may have had, or they know people would try, so instead of just really advertising generically, we've been really trying to push, you know, the retailers to use the stuff that we have that's branded signage, whether we have to make it for them too. That's really just going to help them increase sell-through and get foot traffic into the stores.

Joe: And when we talk about the new gummies and a lot of our new products on the gummy side, we're talking more gummies per package now at the same price that was prior and more gummies per bottles, and I know we showed them off, but we did. So, the package, what used to be a 5-pack is now an 8-pack.

Vince: Yeah. So, that's an 8-count, so we kind of got sidetracked, so we'll go back to that pack because it is really important. So, the 5-count is now an 8-count, and a 75 mgs that was $9.99 retail is now 120 milligrams, so 15 mgs per gummy same retail. So, what else is unique though, is we added a sleep and a High Potency formula and a larger bag, so the one that we had was 12-count original is now a 20-count, and that retail was $19.99, so you're getting almost double the amount of gummies for the same retail price point. But since that was such a huge hit, we did add the sleep gummies in a 20-count, as well as the High Potency in a 20-count, which the High Potency retails for $29.99 and it's 600 mg. So, really, really good pricing when you look at what's in the market and what people are looking for in terms of, you know, those impulse items like gummies in the bags, on the bottles themselves, we increased from a 25 to a 50-count, and from a 70-count to 100-count, so, you know, a huge increase there as well. So, again, it goes back to more value, more milligrams of CBD per unit, but also, you know, the stores now are going to have a big advantage. You know, if you're carrying our brands and people know, you know, what to look for, it's going to definitely increase revenue and sales for individual locations.

Joe: And if anybody has...If retailers or wholesalers have any questions or additional information, feel free to reach out to our team and we'll certainly be able to help you out in any of the marketing and educational resources that we discussed on this episode. So, a year or more oils, Pain Freeze, gummies.

Vince: Yeah. What's next?

Joe: Are you asking me?

Vince: I don't know. Foreshadow till next time.

Joe: Yeah. So, look for more, obviously, coming soon.

Vince: Yeah, no, when we do, we have a lot of other products we're working on and we're really excited about, but the key really is just as we develop new products, we've had a lot in R&D and a lot of our products come from the feedback we get from, you know, retailers and distributors. Like, they tell us what people are asking for, so that way, when we come to market with a new product, chances are it's going to really sell well because we're not just making stuff and trying to put it out there. But yeah, we're always working on stuff, the topicals, and I'm sure those continue to add new products and things like that as well, even to the pet line, so...

Joe: Yeah, and again, that's... so we're talking about the new gummies and our Hemp Bombs and our Nature's Script lines, and we'll certainly have more information and more new products on all three of our product lines coming soon, so don't forget to subscribe to our CBD University Podcast on your favorite podcast platform of choice, and even get notifications when new episodes are released each week. I'm sure we'll have Vince back again soon since he's the best dressed in the room this time. So, that's usually the way it goes for podcast episodes when he's on. Vince Gillen and the vice president of sales, thanks for joining me on this episode.

Vince: Thank you, Joe.

Joe: And as I mentioned, you can subscribe to our podcast and also follow along on our social media networks for all the latest news and information regarding new products and our year of more, and on the consumer, retail, and the wholesale side. If you ever have any questions that you'd like to answer here on our podcast, please email us at podcast, that's P-O-D-C-A-S-T@globalwidget.com. I'm Joe Agostinelli, the host of the CBD University Podcast. Thanks for tuning in.

These statements have not been evaluated by the Food and Drug Administration. CBD products aren't intended to treat, cure, or prevent any disease or condition. Always consult your personal physician about CBD and using CBD products. CBD should never be used by anyone under the age of 18. This podcast is not intended to provide legal advice regarding the legal status of CBD and CBD products.