Episode 71: Catching ZZZs with CBD



Joe: On this episode of the "CBD University Podcast," are you one of the many who turn to CBD for some ZZZs? We're joined by an industrial market research firm with the latest from a study looking at cannabis and getting better sleep. This is the "CBD University Podcast," it starts right now.

I'm Joe Agostinelli host of the "CBD University Podcast" and if you are a new listener, we welcome you to our podcast and we're glad you found us on your podcast platform of choice. If you're a returning listener, welcome back to our podcast, and don't forget you can catch full video episodes of our podcast on our YouTube channel, that's the Global Widget YouTube channel and the YouTube channels of our brands, Hemp Bombs and Nature's Script. And for those of you who watch full video episodes of our podcast, that's another one of our Zoom episodes in which we are featuring the Brightfield Group.

Many of us desire more sleep and a new study looking at how consumers are turning to CBD to catch some more ZZZs was recently published by the Brightfield Group and joining me to discuss that study and some of the items you should be looking for in CBD sleep products is the marketing director of Brightfield Group, Connor Skelly. Connor, welcome back to our podcast.

Connor: Hey, Joe. Thanks for having me. It's great to be back.

Joe: And who can't use more sleep?

Connor: Right. Exactly.

Joe: So the last time we had you on the podcast was the beginning of winter, easy to sleep throughout winter. Is the weather at least warming up in Chicago?

Connor: I mean, it was 60 one weekend and then 35 the next and raining so I'm gonna go with no overall. March and April are not my favorite months in Chicago because it's just cold rain.

Joe: Mid-80s here in Florida but...

Connor: Oh, that's tough.

Joe: We'll see what happens as we...yeah, but we'll see what happens as we get into the summer when it's rainy season...

Connor: That's true.

Joe: ...yeah, and heat and humidity make the return. So, turning away from the weather and back to that report that we talked about. A new report out from the Brightfield Group has some awakening statistics when it comes to sleep and CBD products. And let's start with the biggest news, taking a look at the report from Q4 2020, so the last 3 months of 2020. It was a crazy year obviously in 2020. There's a new number one effect consumers desire from their CBD.

Connor: Yeah. So, that's right and for the first time, we're seeing that CBD consumers their top desired effect is sleep. So in Q4, sleep had surpassed relaxation and physical relief with 49% of CBD consumers looking for sleep from their CBD products. So, you know, there's a wide range of desired product effects outside of sleep, which can include focus or creativity or overall wellbeing as well.

Joe: When we talk about that shift, especially in dealing with physical relief, what type of products are we looking to get that sleep benefit from? And how does that differ from where they might find, say, something like pain relief?

Connor: Right. Right. So, the top product type for these consumers really looking for sleep is gummies. And that makes sense, right? Like, it's a familiar form factor, gummies, you know, they often taste pretty good, so you can pop one or two as you're getting ready for bed. And for those consumers who may be looking for physical relief, they're much more likely to use a tincture, which often has a much higher dosage than gummies or a therapeutic topical. There's a lot of traditional sleep aids these consumers may have been using before CBD, products like melatonin capsules or gummies are ultimately now competing with CBD. And so, a lot of these brands including, you know, one of your own is combining CBD with functional ingredients like melatonin or magnesium to better position their products for specific need states such as sleep.

Joe: And more on the ingredients in just a minute. As you mentioned, actually one of our brands, Hemp Bombs, our newest capsules just came out at the end of March and now come in the sleep form which includes the 5 milligrams of melatonin per capsule along with the 15 milligrams of CBD. You can find a link to that product in the description of this podcast and across the social media networks. Something else to touch on here before we get back into some of the ingredients is the user we're talking about in this study...Now most people hearing all this and thinking this would be, you know, after 2020, we all want more sleep or are turning to whatever to help, but these aren't new users.

Connor: Right. So, you know, these CBD consumers looking for sleep, ultimately really highlight the evolution towards need state-centric products which is something we've been seeing across all kinds of consumer packaged goods including many CBD products. So, these consumers, they are much more likely to have used CBD longer than the average consumer. So you have the segment that is much more experienced. They likely understand more of the brands or products in the space than the average consumer. And they're now finding CBD products that are directly meeting those needs and they're directly being positioned for sleep. And, that's ultimately the power of functional foods and ingredients overall right?

Sixty-five percent of Americans believe functional foods and beverages can be an alternative to some medicines. And so more and more brands will be looking to put some, you know, targeted function in their products as consumers look to this more and more, and you could do so with effective product messaging and incorporating the right ingredients for your consumers, whether that's CBD or melatonin or, you know, other emerging ones, there's so many, like ashwagandha or reishi mushroom. There's just a ton of innovation happening there. So a lot of these brands including a lot of CBD brands are better positioning our products by adding in specific functional ingredients.

Joe: Well done on the ingredient pronunciation. That's why I leave the hard words up to you.

Connor: Yeah. There are so many that I'm still learning how to spell and [inaudible 00:06:15].

Joe: It was back on episode 65 of our podcast where we previewed our newest products from Hemp Bombs and, as I mentioned, we debuted our brand new CBD sleep capsules. Speaking of ingredients as we talk about melatonin, what did the report show in regards to ingredients that consumers are looking for in their CBD products to support sleep?

Connor: Right. So, I just wanna clarify, that data, it's a little bit different from our CBD consumer data, which I've been referencing for the most part here. So, our Evergi Platform uses general population survey data and social listening to get a much deeper look at the emerging wellness space, which includes ingredients. So, this includes Americans as a whole, not just the CBD consumer segment. So with that in mind, consumers are looking for a variety of ingredients to help them sleep. Melatonin is definitely the big one that everyone knows about and that definitely over-indexes the most. After that, magnesium, lavender, ginseng, and no surprise, CBD round out the top five ingredients there.

So, there really is an overwhelming amount of emerging ingredients out there consumers are looking for to help with sleep. Collagen or vitamin K, elderberry, they all over-index on consumers that are looking to achieve better sleep. So it'll be interesting to see if and how brands jump on these functional ingredients to position their products more for sleep.

Joe: So, we have a couple of minutes here at the end of the episode, what are some of the reports and some things you guys are working on that consumers can, you know, maybe go back and take a look at and why don't we let consumers know where they can find all this great information we talk about when we have you on our podcast?

Connor: Sure. Yeah. So, you know, outside of, you know, the rapid emergence of CBD and sleep, we're also gonna be putting out a lot more content around pet CBD. We'll have new data on that and seeing just how that market has been growing and how consumer behavior has been adapting over the last year, you know, in a pandemic of all things. And then we'll also be looking at more, you know, brand level trends, how we've recently been talking a lot about CBD brand awareness in the space and how, you know, celebrity brands and things like that are great ways to garner attention. But, you know, the jury is still out on if it's going to drive long-term loyalty or stronger conversion rates or things like that. So, yeah, there's a number of things that we'll be putting out over the next few months.

Joe: And for more information on those reports and studies, it's www.brightfieldgroup.com, click on blog. Always some great information there, or resources, always some great information there. Connor Skelly is the marketing director of the Brightfield Group joining us via Zoom from Chicago. Once again, thank you for taking time to be on our podcast. I always enjoy talking to you.

Connor: Thanks so much, Joe. It's always fun to be on here. Great.

Joe: And we'll wrap up with an easy question, Cubs, White Sox, or not a baseball fan as we head into the next sport season?

Connor: Cubs. Cubs all the way.

Joe: Yeah, absolutely. [crosstalk 00:09:31] Cubs.

Connor: I could talk about the Cubs forever. Me and my brothers, we have matching Cubs tattoos. So, it runs deep.

Joe: Our next podcast episode, if they have fans by that time, maybe we will have to do it from the bleachers at Wrigley Field, we'll have to see.

Connor: Yeah, I'm there.

Joe: There we go. All right. Connor, as always, thanks again for coming on the podcast, we look forward to catching up again sometime soon.

Connor: Thanks, Joe.

Joe: And thank you all for tuning into this episode of the "CBD University Podcast". As I mentioned on the onset, you can find full video episodes of our podcast on these CBD...excuse me, on our YouTube channel at Global Widget under the "CBD University Podcast" playlist. You can also find it on the YouTube channels of our brands, Hemp Bombs and Nature's Script, under the playlist on those channels, along with your favorite podcast platform. Hit that subscribe button to get notifications when new episodes are published each week. 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. The CBD products are not 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 content is not intended to provide legal advice regarding the legal status of CBD and CBD products.