At Tree of Life Seeds, we value honesty and transparency above all. We have a history of creating the best CBD oil products to help you live your best life. As CEO, I pride myself on being open with you about every step in our process. With that in mind, I have decided to lower our prices by 20% in keeping with market forces.
Since the legalization of hemp-based CBD, you’ve no doubt seen CBD specialty stores popping up all over town as well as online. In Nielsen’s 2020 forecast for the hemp CBD industry, they predicated the industry will be worth almost $2.75 billion this year. CBD in America has been booming since 2018 and continues to grow. However, over the last year, it seems like I’ve seen a new CBD store open weekly on my drive home, only to see it close a couple months later. The same thing happens in the digital space.
CBD has busted onto the scene over the last year, causing prices to skyrocket while the industry struggled to keep up with demand. But over time, prices leveled out as suppliers were able to produce the number of goods desired. The downside to this rapid growth of the industry is an oversaturation of the market.
The excitement of legalized hemp and the allure of high profits from growing hemp to sell has generated a supply of CBD oil that has exceeded the current demand for it. Since hemp has become recognized as a legal agricultural commodity, there has been increased production of hemp, and more hemp has been farmed than is needed for the current industry. This is a minor hiccup to the hemp industry that will be corrected as soon as the FDA regulates it, but more on that later. Consequently, trade prices for hemp biomass have decreased, which can affect the pricing of hemp CBD products. Simply put, there are too many CBD oil products out there, and it can be hard for customers to find products that are high quality and from reputable companies.
I’m sure you’ve seen CBD products at a variety of different price points, with some costing as low as $10 and some having price points of more than $100. A low-priced hemp CBD oil product might be enticing to those who are looking for a bargain, but the quality of inexpensive CBD oils is questionable. Currently, the FDA has not released a specific set of regulations for CBD products made from hemp. As a result, there is little quality control in the industry. Quality control is done at the discretion of companies, so there is little incentive to it. Companies can sell products without disclosing what goes into making them.
At Tree of Life Seeds, our hemp CBD oil products have been on the higher end of the pricing scale, and that is because we have a hand in each step of the growing and manufacturing process. Our background is in hemp genetics, so we know a lot about how to grow hemp and how to grow it well. We grow our own hemp in the US. Our broad-spectrum, THC-free CBD oil is manufactured in the US and is thoroughly third-party lab-tested for quality. We make sure there are no harmful chemicals, pesticides, or heavy metals in any of our products. To further improve the quality of our oil and increase the benefits, we invest in nano-emulsification, a patented process that enhances the oil’s ability to be absorbed into the body.
Some companies are using the lack of regulation, and the door it opens for low-quality products to flood the market, as an excuse for decreased sales. However, we are electing to take a proactive approach that allows us to continue bringing you the highest quality CBD products at a new lower price.
We take pride in our manufacturing and work to make the best CBD products for you and the environment. We could follow the pack, order our CBD oil from overseas not knowing precisely what’s in it or use lower quality CBD oil that doesn’t provide all the other beneficial cannabinoids in the hemp plant but, for us, that wouldn’t be right. We strive to provide you with the best broad-spectrum CBD oil products on the wellness market. But we also care about the environment. We are dedicated to being cruelty-free, responsibly sourced, and everything is bottled in-house so we can keep our carbon footprint low.
One of the most critical aspects of our CBD products is not something you find inside the container. When you look at our packaging, you will always find a batch number. Because of the lack of regulations by the FDA, we don’t have to put batch numbers on our products. But we do. Because we care about you. Just like everything else we do, it’s an extra step we take to ensure your safety.
We are always searching for ways we can improve the products we offer to you. In recent months, we have noticed the cost of producing hemp CBD oil products is dropping. We could keep going as usual and chalk this up as extra profit, but I have decided to pass these savings on to you. As I mentioned above, I will be cutting prices by 20%.
We are the eco-conscious CBD oil company that is committed to providing you the highest quality broad-spectrum CBD products on the market. We were one of the first 5 vertically integrated companies in this industry when we started back in 2015, and we will be here for the decades to come by continuing to be open and transparent with you. When we make changes, we let you know because I believe in doing the right thing, and this is the right thing for us, our products, and for you.