LONDON, United Kingdom — CBD retailer Origin’40 has announced ambitious plans to launch 50 sites across the UK by the end of 2023 as it looks to establish itself as the number one retailer for cannabidiol.
The brand, which has already opened three stores in London this year, despite challenging market conditions, believes it is in a prime position to execute a further roll-out of stores in the UK. And is already eyeing more London sites to complement its existing locations in Chiswick, Portobello Road and Putney.
It is also exploring larger towns outside of London including St Albans, Guildford and other similar profile locations.
Commenting on the company’s store-first strategy and plan, Origin’40’s Director Paul Ephremsen, explained: “Everyone is talking about CBD and one day it will be mainstream. But right now, the sector is in its early stage of adoption and consumers have many questions they need answering.”
He added: “The CBD market is highly fragmented with no real ‘go-to’ consumer retail brand. Hundreds of brands and players are pursuing a D2C online strategy, but we believe ‘real life’ conversations are required to build trust and confidence to educate and convert a curious public into a long-term loyal community.”
And that’s where Origin’40 comes in.
By providing consumers with easy access to highly trained CBD experts who can answer questions, host product demonstrations and offer store-based experiences that many DTC brands cannot, the retailer believes it is creating a more personalised service within the CBD sector. And ultimately, helping to grow the industry as a whole.
“I saw a massive gap to bring a consultative retail experience to the sector; giving consumers expert advice on their local high street and a consultative-led online experience, where consumers could really understand, from a trusted and credible source, how CBD really works, which products are best and how to use them to get the maximum benefit,” Marcus Fox, Group Managing Director, Origin’40 told Welltodo.
“It’s such a nascent industry that I really see the need for that face to face relationship, almost like you used to have with your GP, and that’s how Origin’40 was born,” he added.
By investing in building that relationship with consumers to understand how CBD can help them and what the right products are for their lifestyle, Fox believes that Origin’40 can play a key role in a market that is currently “incredibly exciting but also incredibly fragmented”.
He elaborated: “The lack of a credible retailer means there’s lots of confusion about CBD, and that’s a massive challenge for the industry.
“Over the next few years, the opportunity is there to tell the story of CBD in a much more mainstream, broader way. With growing awareness and relaxation of marketing laws around CBD, consumers will seek out reputable, consultative retailers and we see a massive opportunity there.”