CBD sellers will now have an opportunity to create a store on Shopify’s platform joining over 800, 000 merchants across the globe.
Shopify, the third-largest shopping platform in the U.S. now allows the sale of hemp and its related CBD products on its site. With the CBD market prospects estimates at $22 billion by 2022, Shopify’s move might be a significant contribution to the expected revenues.
CBD sellers will now have an opportunity to create a store on Shopify’s platform joining over 800, 000 merchants across the globe. They will also have a chance to utilize the tools and apps that the company provides for marketing and handling product inventory.
In a statement released to Adweek by Shopify Plus general manager, Loren Padelford reported that the CBD industry adjusts to fit into Shopify’s way of doing business.
CBD merchants will not use Shopify payment for their customer purchases. However, they can collaborate with third-party partners to support purchases.
Padelford stated that the company encourages all CBD dealers to seek legal counsel to match Shopify’s user acceptance policy and comply with FDA regulations.
CBD retailers will miss Shopify Fulfillment Network.
Padelford affirms the company’s commitment to ensure the safety and transparency of the platform.
Since the 2018 full legalization of cannabis in Canada, the headquarters of Shopify, the company closely monitored and monitors the legal state of affairs across the U.S. and carefully considered its decision following the legalization of the sale and consumption of CBD products by the 2018 Farm Bill.
Josie Maran and Cannuka brands are already selling on Shopify platform via Sephora and Ulta stores respectively.
Cannuka’s founder, Michael Bumgarner, commends Shopify’s support for CBD merchants. He expresses confidence in a significant change and transformation in CBD products business in the near future.
Shopify, according to Padelford, worked with brands like Cannuka since 2017 to identify the needs of CBD merchants before officially opening its arms to CBD merchants.