#118-The impact of the coronavirus on the CBD industry and cbdMD’s Yoshi Tochiki
Post-Covid: Which brands will flourish?
That’s great. So we discussed before we started recording, after the whole thing is over, which brands in this field will not only survive but will flourish. Then you think that once completed, some of the brand’s characteristics will be done well.
Therefore, in the past three weeks, we have conducted an incredible analysis of what is happening and tried to pay close attention to every KPI we said. As we discussed, I think certain things are obviously more important than others, procurement, to stay ahead of any problems that may occur with procurement. The second part is to adjust, market and adjust the way you provide services to wholesalers and certain customers. As you know, many people don’t want to have face-to-face interaction. Therefore, much of this participation will have to be transferred to social elements on social media. In the past five years, we have seen social media advance by leaps and bounds here. I think we will continue to see the creativity generated by using these channels. So I think, first, if you have proper procurement, and second, if you have a team that can provide customers with more digital touchpoints, these are the characteristics of roll-to-roll and become the backbone of the transition period.
Yes it is. What about the transparency of things? What do you think? How do you think this will work?
For us in the CBD, transparency has always been at the forefront of who we work with and how you experience the product. In the world we live in today, transparency is of the utmost importance. And I think this may be the first one in terms of how customers choose the brand they use.
Build trust in the CBD
What do you think people should look for in brands to analyze whether they are transparent? What is the main content to look for?
I think if it says on the label, if you can’t find evidence about it on their website, or any evidence, if it says THC is free, you go to the certificate of analysis on that website, and you don’t see the THC being tested , You can’t see the residual solvents and pesticides. There is a very clear indicator, indicating that they are either false or not completely transparent to the ingredients in the product. So it’s about doing due diligence, not just listening to marketing,
Yes, I think you are right. This has been the case from the beginning, it’s just that people really need to check the products they buy. Hope this is easy for them, just like your company can easily check these things on the website, just check by the batches they own. The easier the company does, the more I think customers trust them.
Absolutely. And you actually came up with a good word to describe the batch that the product came from. Many companies don’t actually have to provide an exact lot number so that you can understand how to find out the traceability of what ingredients are in the product. Working with us, we invest in our operations and our standard operating procedures internally. So we just passed the GMP certification this year. We recently obtained NSF certification, which is a very important thing. This is a very important question, because when you use cbdMD products now, we have a consistent dosage, this is because we have put in hard work and structure in the manufacturing process.
So batch, for people just to determine what we are talking about, this is the exact time you can look up in the lab report-well, I don’t want to use the same word, but the exact time your product was made . For example, if a company produces a new product every six months, you don’t want to see the laboratory report from two years ago, because this may change. Since then, many things may have changed. You want to view laboratory reports for the six-month period in which your product was manufactured. So this is what we call batches. cbdMD does provide this, and other excellent companies also provide it. Therefore, you need to find and make sure that you are not only looking for laboratory reports, but also laboratory reports in batches. If you call the customer service department of any brand, they will know what you are talking about. So it’s not like this secret thing. What you said, Yoshi, about the dose? How do you control the consistent dosage of the product.
Therefore, according to our GMP and our standard operating procedures, our product manufacturing is the same as the previous batc. If you test a product we produced last week with a product produced this week, the result will be the same, because our formula is a step process. As long as you follow these guidelines and follow these steps, you will know that the dosage and product will be consistent across the board. Therefore, our dosage really shows how we produce our products.
Did you know that this is very important for people who use the same product and they buy the same product over and over again, because they will get different batches, just like the way CBD works. This is a fresh product. Compared with food, its shelf life is not bad, but it is not, you know, it is not produced every five years. Therefore, people who buy the same product need to be consistent if they use it on a weekly or regular basis.
cbdMD award-winning products
And, you know, Yoshi, we haven’t spoken for a while. So I don’t have a chance to congratulate you on winning-you recently won the Product of the Year on two products, right? External medicine and sleep products.
Yes, sir. We have an incredible marketing team. Danielle Crary and Ken Cohn have played an absolute role in ensuring that our brand awareness is always put first by our customers. A large part of this is the submission of annual products. We swept the CBD products in this category in the annual product. And, you know, we are incredibly proud of it. We have characteristics in many marketing activities. And I think this is really important for our products.
When this happened, we issued a press release. So I will make sure to link it in the program description. Sleep products are the products I want to touch. Because many people just can’t sleep. This is really bad. Like, I have experienced it myself, I just think six hours is normal or enough, or I can handle it. It was not resolved in the end. It’s kind of funny that basic problems such as sleep are becoming a problem for people, you know, but it’s really a health problem. If people don’t start to sleep, the situation will only get worse, especially during stressful times like this one. So anything that can help you fall asleep. I mean, I really don’t know where the research on whether CBD can interfere with your REM sleep, but I’m pretty sure it’s better than not sleeping at all. So, you know, I think it’s better than something harder, like Ambien, or, you know, it has been shown to interfere with the REM sleep cycle and all these things. I am not an expert. But there is a wonderful episode, many people will refer to Joe Rogan’s podcast, he has a sleep expert. That, it really opened my eyes and made me realize the importance of these eight hours and anything that can help you do this, I think it’s a great tool, it depends, you know, just make sure It will not affect your sleep, you know, the quality is still good.
Absolutely. We are living in this strange age, and every day is Groundhog Day. We are really creatures of habit. We like to go to our favorite gas station before going to work. We like to stop at our favorite restaurant on the way home, you know, and have a bite. When we don’t have those rhythms, we don’t have those routines, you know, it will definitely affect, you know, stress and anxiety. If you cannot have that simple social release, it will only continue to be depressed or continue to accumulate in you, which can lead to anxiety and lead to lack of sleep. I really believe that our products are incredible. We choose to use all natural ingredients, as you mentioned. Many of these synthetic ingredients have addictive properties and a series of different side effects. So, you know, I totally agree with sleep products, they have not been proven.
Yes, not yet. But if you are, and I’m free from it, I think it’s important to get a small personal victory.
I think this is a question: is it better than not sleeping at all? I agree. You know, I think if you talk to a doctor, neither you nor I are medical professionals, but I think your doctor will say whether it is helpful to you, and you have not noticed any negative effects, and you don’t want to Taking a dose is better than not sleeping. But this is just my opinion. You know, I personally use melatonin every night. As another example, it has not been fully proven. And I know it is a key ingredient in PM Blend, but among other ingredients, you know, it is not a proven thing, it may have some problems. But I know I feel better when I sleep well. So that’s why I use it.
Responding to stress during the pandemic
And I think many other people use CBD in the same way to relieve anxiety, and they don’t want to take Xanax or similar drugs, because this has been proven to be a problem, you know, it has been proven to cause major problems. I have been Talking about Joe Rogan’s podcast, but he often mentioned how he met people who use Xanax, and when they stop using it, their anxiety will get worse. I have experienced it as if it was working there. If you have anxiety, it definitely works. But when it comes back, it will make the situation worse. So have you seen customer feedback? And I’m not sure if you often deal with customer support, but at this time, for example, have your orders or customer feedback increased, and they say they are using CBD to help them relieve some of the stress period?
I think we are sure…it is not incredibly overwhelming. But it definitely has increased from what I have seen.