In this episode, Aaron and Matt interview Charles Smith, a 15 year veteran of the big tobacco industry who transitioned to work with one of the biggest, most successful CBD brands ever! Charles discusses hot button issues, such as how COVID-19 has affected the CBD retail business and how to successfully navigate the CBD retail space as a result.
Who was featured in this episode: Charles Smith
Why should your audience listen to this episode: The current pandemic has created uncertain times for everyone and navigating the retail landscape, and CBD is no different. Those in CBD and Cannabis retail curious about how to maneuver their marketing and operations throughout COVID-19 should certainly listen to this episode for deep insights.
What was discussed:
Charles Smith brings deep insights and experience working in the CBD retail industry during the course of COVID-19. Retail establishments have taken a huge hit in revenue due to this pandemic, and thus, figuring out new ways to adapt is crucial. Charles offers useful advice about amplifying your brand’s presence and pivoting strategies to succeed today.
Notable quotes from the episode:
“If we’re going to get hammered in retail because of COVID, then let’s shift our weight over to online [sales] and figure out what leverage we can pull to better connect with consumers in that space.” ~Charles Smith
“Store owners are seeing 50-60% drop off in retail sales [because of COVID-19]” ~Matt Sibert
“By far, to me, this is the fastest industry I’ve ever seen as far as having to pivot…the cannabis space, you have to be able to pivot fast. An example of that is how delta-8-THC came out of nowhere. The manufacturers that jumped on it fast, they’re making a fortune right now even though that’s a really gray area…a point about pivoting” ~Matt Sibert