Chain Drug Review, March 16th, 2020

Carlos Santana Enters Into CBD Development Initiative SANTA ROSA Calif Carlos Santana the 10 time Grammy winning and three time Latin Grammy winning guitarist and longtime cannabis advocate said he is partnering with Left Coast Ventures to develop premium cannabis and hemp CBD brands Santana said these lines influenced by his Latin heritage will provide consumers with high quality products designed to leverage the power of historical remedies The parnership will develop both cannabis and hemp CBD brands Since the late 1960s Santana has become synonymous with his signature sound a fusion of world music rock blues and jazz that combines the quality of rhythm melody and inspiration that celebrate and define Latin music Similarly Santana said these brands will honor his heritage while incorporating his philosophies by identifying strains and products that promote the spiritual consciousness and wellness effects of cannabis Cannabis is a window or a door to different awareness of consciousness said Santana It gives you the choice to perceive through a different filter of awakening and healing the misperception of distance as an illusion which keeps you from being centered in your essence core It helps you arrive at knowing accepting and owning a quality of life that is being with joy The cannabis brand is expected to launch this summer and will be available in selected dispensaries across California Upon release the line will include flower and pre rolls The hemp CBD brand will launch in the fall and will include topicals with traditional formulations inspired by Santanas family Santana has partnered with Left Coast Ventures a company that has launched cannabis brands with other iconic musicians including Mind Your Head with Mickey Hart of the Grateful Dead and Marley Natural a collaboration with the Bob Marley estate We are excited to launch cannabis and hemp CBD brands that deeply respect Latin heritage and celebrate the unique light of every individ THE BUSINESS OF CBD Carlos Santana ual said Left Coast Ventures chief executive officer Brett Cummings Its a true honor to work with a dynamic legendary musician like Santana who has influenced millions through his music and shares our values and passion to legitimize the future of cannabis Headquartered here in Santa Rosa Left Coast Ventures is a diversified cannabis and hemp company specializing in cultivation manufacturing brand development and distribution Left Coast Ventures and its subsidiaries are working to shape the future of the legal cannabis industry in the United States through acquisitions investments and incubation while building a respected portfolio of top shelf brands Retailers Lack of CBD Education Is Fiscally Harmful Continued from page 5 Tracking the potential for growth When it comes to deciding where to buy CBD 71 of respondents cited ease of purchase and 54 mentioned product assortment Traditional buying criteria such as price 59 perceived benefits 56 and quality guarantees 50 are the most important factors respondents consider when deciding what products to buy But this isnt about piling it high and watching it fly Chain drug operators must become more aggressive in CBD education and use integrated strategies to position CBD as a destination category Supply chain transparency leads to trust and guarantees quality Fewer than half of respondents value service and education 47 a real problem since lack of education is the single biggest hurdle to CBD sales growth Perceived health outcomes drive CBD purchases and 32 of respondents agreed the products offer benefits While 40 of U S respondents Strongly Agreed CBD offers wellness or therapeutic benefits only 25 of Canadians concur Still 43 of Canadian respondents and 37 of Americans Agreed the products are beneficial CBD is not a flash in the pan and continuing growth is expected Market demand for CBD is real While its true CBD hasnt experienced its first stumbling block say a quality concern or the release of negative research results given users strong propensity for repeat usage we feel CBD use will only continue to grow As a result manufacturers and retailers need a focused strategy on how to capitalize on the opportunities CBD creates Bryson Waterman is a principal in the consumer practice of Kearney a leading global management consulting firm He can be reached at bryson waterman@ kearney com Getting to Know the Emerging CBD Consumer Continued from page 8 This provided much needed relief for brands that were looking to tap into this fast growing segment but were nervous about the legal implications That said we see a long runway to bring CBD into mainstream categories Our survey found the most used products are still traditional CBD products such as oil and tinctures Categories in which CBD is an add on to an existing product such as beauty and personal care products are used much less frequently And while CBD is becoming more common on the shelves of mainstream retailers most CBD consumers do not shop for the product at such formats as drug stores supermarkets beauty retailers and department stores Specialist stores online channels and health food supplement stores are the most popular destinations But these dynamics could change and quickly Considering we are still in the early innings just over one year after the federal government cleared the way for widespread adoption we see plenty of opportunity for CBD to move into the mainstream and for mass market formats to capture a greater share of this fast growing market Deborah Weinswig is founder and chief executive officer of Coresight Research a global research and advisory firm specializing in retail and technology She can be reached at DeborahWeinswig@ Coresight com The Business of CBD March 16 2020 11