CBD is the latest hot commodity, taking the world by storm. Learn how you can market CBD products online, cashing in on the global momentum of the CBD industry!

What’s the Size of the CBD Industry Pie

The CBD market has produced over $1.6 billion in 2021 from sales in the U.S. This industry is booming, with CBD sales predicted to surpass $20 billion by 2024.

Find more statistics at Statista

Even though rules and regulations about its marketability are still being defined, the proverbial CBD cat is out of the FDA bag, with FDA accepting that and it’s futile to try and take back the hemp-derived products from the market. 

In a transformative period of eCommerce, heavily influenced by the pandemic, the marketplaces are shifting from physical places into virtual ones. This, however, is still tricky when it comes to CBD products, because not all eCommerce platforms allow you to sell CBD online.

Before we talk about selling CBD online, let’s first dive into what CBD really is. 

Understanding CBD, What It Is, and How It Works

Cannabidiol or CBD is one of two major components of the Marijuana and Hemp plants, the other being THC. As opposed to THC, CBD is not known to have any “intoxicating” effects, and there are no indications that this component causes dependency. Even though famously CBD is extracted from the Marihuana and Hemp plants, other plants such as orange (orange peel) can be sources where to extract pure CBD oil without any traces of THC. 

The popularity of CBD rose, as its treatment results proclaimed CBD to be effective in treating a wide range of health issues. As some medical professionals suggest, CBD works with the body to help it reach a state of homeostasis which is a natural internal equilibrium both affecting the body and the mind.

CBD is finding a large application in different products such as oils, supplements, sprays, topical balms, and capsules said to reduce different symptoms like anxiety, inflammation, nausea, and even promote good overall physical and mental health. But just like any other product, CBD products need to be well-regulated and tested before they are to hit the market.  

With a diverse and growing competitive CBD market both brick-and-mortar and online, you’d want to stay ahead of the game when it comes to selling CBD products. We have just the advice to help you start and win the online CBD race. 

Read on!

Taking Your CBD Business Online

The 2018 Farm Bill legalized hemp production in the US, however, selling CBD products is not legalized across the US. While nationwide sales for CBD are legal and permitted by federal laws, statewide laws differ. With this in mind, not all online selling platforms allow you to market and sell your CBD products online, and not all payment processors accept payments for CBD.  

So if you have your legal CBD business all ready to go, here is where you can start when it comes to selling CBD Online.

High-Risk Availability Payment Processors for a High-Risk Industry

With the undefined regulations surrounding CBD, many ‘payment processor providers’ are hesitating to process payments for the CBD industry. So if you want to sell CBD online, you need to make sure that you find a payment processor that handles CBD payments. 

When browsing for the right CBD payment processor for your online business here’s a few questions that can help you out in identifying your solution:

• Does this payment processor deal with high-risk transactions?
• Can I integrate it with the eCommerce platform where I want to create my CBD store?
• How affordable are the payment processing fees?

To make the CBD Payment Processor hunt easier we’ve listed a few of the high-risk payment processors that enable you to digitally receive and process CBD payments:

PayKings

For online payments in the CBD industry, you should be looking into this high-risk payment processor. It keeps things running smoothly for your online store, providing you with an account that is instantly ready to accept payments. 

This payment processor:

• Easily integrates with most platforms
• Fast approvals for sustainable CBD accounts
• Multiple eCommerce gateways
• Intuitive compatibility and support

NMI

Providing you with direct online payments, this CBD payment processor is the ideal eCommerce payment processing solution for accepting cards and payments online. Considered as one of the best CBD payment processors — NMI, provides you with global payment options for CBD and Hemp products.

This payment processor:

• Supports different payment methods
• Lets you board and manage multiple MIDs
• Has powerful reporting tools with a single data view

Pinwheel

This payment processor easily integrates with a number of platforms and focuses on simplifying transactions for all industries, including CBD. Pinwheel provides a customizable and secure way to make and receive payments for CBD product purchases.

This payment processor:

• Deploys custom financial technology solutions
• Accepts payments from all major card types
• Has easily accessible APIs and an SDK
• Integrates with different platforms, such as Shopify

Most CBD payment processing providers provide additional customizable services. So after you decide on a CBD payment processor, make sure to ask what else they can do for your CBD business. This way you know you are making the most of the payment processor you choose. 

Finding the Right Platform for You, that Allows You to Sell CBD

Because of the blurry regulatory status surrounding CBD, not all eCommerce platforms allow you to sell CBD products online. So besides a strong eCommerce side, it’s important that you identify and go for a platform that will let you market and profit from your product.

With the intention of making CBD selling easier, the UCX Platform not only offers the space but also all the necessary tools you’ll need to sell CBD products online ー including a pre-integrated CBD payment processor. The eCommerce side of the UCX Platform provides Customized Theming for your online store, with an easy-to-use Product Builder and NMI as a Payment Processor, integrated on the platform.

• The platform uses Builder.io as a drag-and-drop builder. You can use it to create your online storefront, customized with powerful visuals, intuitive design, flexible layouts, and more.

• The Product Builder lets you create and configure even the most complex products with ease. You can use it to add pictures, attributes, features, or any other product specs with the click of a button.

• The platform has integrated NMI as the best payment processor for the CBD industry allowing you to accept payments for Hemp and CBD products directly from the UCX Platform.

You can also sell CBD products through Shopify, which lets you create your CBD storefront and add your products. However, you still need to worry about integrating a third-party payment processor. Unlike the UCX Platform, your Shopify store doesn’t come with a pre-integrated CBD Payment Processor. 

Why Sell CBD Products Through Affiliate Marketing Programs

Affiliate marketing might just prove critical for CBD businesses looking to increase brand awareness, boost brand visibility, and sell more products. That is why brands are increasingly working with affiliates to access bigger target audiences and diverse market segments.

As a CBD business, you can work with affiliates to tap into new markets, increase brand exposure and sell more CBD products. With UCX you don’t have to struggle to find affiliates of your own. Instead, you leverage our existing network of affiliates, to market your products through them, saving both time and effort. To have access to our entire affiliate network simply list your brand in the UCX Brand Directory. 

Affiliates browse the UCX Brand Directory where your brand is listed. They click “Sell this brand”, fill in the form to pick your products, and we add your products to their custom-branded affiliate online store.

You save time and energy in marketing and sales efforts while getting more sales, as you have more sellers doing the work for you.

Takeaways

Selling CBD online may take a while to figure out, but it can give your business the upper hand it needs. Make sure that initially, your business is in line with the CBD rules and regulations, and that so are your products. With everything in place, set out to find the platform that will help you get and stay ahead of the CBD online selling race. The UCX Platform empowers you with all the tools you need to create your fully personalized CBD store for your products. You productize and monetize anything — oils, supplements, sprays, topical balms, capsules, and more.

Remember, besides a strong eCommerce side, it’s very important that the platform you choose is or can be integrated with a CBD payment processor. The UCX Platform uses NMI as one of the payment processors integrated into the platform, allowing you to accept online payments for CBD products directly through UCX.

If you’ve already set your heart on the UCX Platform to help you get started with your CBD online selling journey, the next step is talking to our success specialist. We make sure you have everything you need to succeed in your CBD online selling journey.