The trepidations that kept the corporate world aloof from cannabis are dropping away. Multiple big-box retailers now sell CBD. The legal framework is still knotty — it’s not clear what the rules are. The FDA is still working out the regulations.
“We recognize that there is significant public interest in these products, for therapeutic purposes and otherwise,” the Food and Drug Administration wrote in a message posted to their website. “The Agency is committed to science-based decision making when it comes to CBD, while also taking steps to consider if there are appropriate regulatory pathways for the lawful marketing of CBD, outside of the drug setting.”
Many businesses are forging ahead anyway, confident the FDA will decide in their favor. Kroger, the largest grocery retailer in the U.S., recently announced plans to sell hemp-based CBD at all of its 945 stores. A company spokesperson explained: “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.”
Kroger isn’t alone. Walgreens, CVS, and Rite Aid are entering the CBD market as well. Consumers who don’t live near a dispensary will be able to buy quality CBD products. Without government regulations, purchasing CBD online is a gamble. Big-box retailers, at least, have the ability to vet their products to an extent (lack of standardized testing still poses an issue). Barneys and Neiman Marcus are attempting to corner the luxury CBD space. Consumers who are willing to pay top-dollar don’t have to spend time searching for prestigious products online.
Also telling are the big players who are staying away. Amazon, Walmart, and Target have all made it clear that they have no intention of adding CBD to their inventory until the legal hurdles are cleared away. However, the landscape is changing quickly.
Image source: CBD Plus USA