Long-term Usage & the CBD Skincare Sector
The article discusses the market opportunity for CBD-infused skincare products, including:
- Reasons for purchasing
- Barriers for buying
- Long-term buying behavior
- Product category expansion opportunities
- Key ways to better market and advertise
The piece utilizes survey data from Provoke Insights’ Winter 2023 Trends report. The research reached out to 1,500 Americans. Highlights include:
- CBD purchasers seek sustainably-sourced items, making transparency in ingredients key for appealing to buyers.
- Over a fifth of consumers that have yet to try CBD skincare products are planning to buy them in the future.
- CBD buyers prefer buying at local retailers. Those who have not yet bought the product tend to prefer larger retailers. Expanding to larger retailers can assist brands in reaching these new audiences, as current buyers prefer buying from small businesses.
- Repeat purchases are low among those who have trialed CBD skincare products. Among previous buyers, only a quarter would buy these items again. Though cost is the largest barrier to repurchasing, many no longer see a need for the products.
To further grow the industry, CBD skincare brands must address consumers’ perception that these products are ailment-based solutions. By educating buyers on the multiple using CBD in their skincare regimen, brands can transform these products into a regular household need.