Among the results of a new study by healthtech B-corp Radicle Science, participants experienced a 71% improvement in their well-being on average. Thirteen U.S. brands were included in the Radicle Advancing CBD Education and Science (ACES) study of nearly 3,000 participants to determine whether botanical products containing CBD deliver therapeutic benefits across five health outcomes,…
CBD Skincare Market Expected to Hit $3.4 Billion By 2026
The CBD skincare market is projected to reach $3.4 billion globally by 2026, with a compound annual growth rate (CAGR) of 24.8% during the forecast period, according to a report from Allied Market Research. For comparison, the market was valued at just $633.6 million in 2018. Growth will likely be attributed to the rapid rise in…
Glass More Than Half-Full for Retailers, Annual Alcohol Report Finds
Alcohol e-commerce and on-demand delivery platform Drizly released its third annual “BevAlc Insights by Drizly Retail Report,” culled from a nationwide survey of over 500 alcohol retailers. Among standout findings, retailers expect higher sales this holiday season despite reports of champagne shortages, feel concerned about supply chain issues yet still optimistic about 2022, are poised…
Holiday Candy Sales Outpace Last Year’s
Americans are enthusiastic about the winter holiday season and the important role chocolate and candy play in their traditions and celebrations, according to data released by the National Confectioners Association (NCA) and IRI. Total seasonal confectionery sales are up by 20% over last year, the NCA said in a statement, with winter holiday chocolate sales…
Market Analyst Report Has C-Stores on the Rise
Market trends analyst IRI Worldwide found encouraging trends and promising opportunities for the convenience channel in its new report, “The Convenience Store Landscape Q3 2021.” The convenience store channel has outperformed the broader market in each of the past three quarters, galvanized by increasing consumer mobility. Inflation and supply constraints continue to pose risks to…
‘C’ Is for Community: Meeting Shoppers’ Expectations Around Sustainability
For a number of years, the National Association of Convenience Stores (NACS) has argued that the “C” in its name could actually stand for community — and during the COVID-19 pandemic, shoppers seemed to agree. This emphasis on community offers important opportunities and challenges for convenience store operators, especially when it comes to meeting consumer…
Functional Beverage Market Projected to Reach $49 Billion
By the end of 2021, functional beverage sales are expected to reach nearly $49 billion on the strength of pandemic trends as reported by Packaged Facts‘ new report “Functional Beverages: Market Trends and Opportunities.” The U.S. food and beverage industry has been impacted heavily by COVID-19. In 2020 especially, more people looked to improve their…
Report: Pharma and Wellness to See Fastest CBD Growth Through 2028
Due to the increasing adoption of cannabidiol-based products to treat ailments, the global cannabidiol (CBD) market is anticipated to grow at a lucrative rate over the next several years, according to the “Cannabidiol Market Size, Share & Trends Analysis Report” from Grand View Research published earlier this year. The report estimated that the global cannabidiol…
In-Store Retail Sales Rise to Pre-Pandemic Levels
The steady, gradual growth of e-commerce dramatically accelerated during the pandemic, elevating the amount consumers spent shopping online to almost equal the amount consumers spent in stores. Now, with brick-and-mortar stores open across the U.S., online revenue growth is slowing down. At the same time, physical store sales have increased, rising to 64% of all…
Organized Retail Crime Spawns Brazen Attacks, Massive Online Operations
The Retail Industry Leaders Association (RILA) and Buy Safe America Coalition released a new report examining the rise in organized criminal activity targeting local retailers, quantifying the economic impact these crimes are having on local retailers and communities. Beyond the startling economic impact, the report also details the significant impact retail crimes are having on…