Where Do We Go from Here? The Future of the Cannabis Industry

Tuesday, September 1st, 2020

Changing legislation regarding the use of CBD has led to countless new opportunities for both CBD merchants and consumers. However, there are several common misconceptions that are still holding the industry back. In fact, a wrong perception is the biggest thing the CBD industry now suffers from. So, how is the industry evolving despite the challenges it faces? And how can you ensure your CBD company is successful?

Dispelling Common CBD Myths

Here are six of the most common CBD misconceptions your business should be aware of as the industry moves forward and customers continue to have questions about CBD products.

• CBD Benefits are Speculation – Truthfully, more research is indeed needed in the CBD industry, and will likely take place as these businesses continue to grow in the years to come. However, it wouldn’t be correct to say there has been no scientific testing for proposed health benefits – there has. In fact, Epidiolex is a CBD-based ingredient that has won the approval of the Food and Drug Administration (FDA) for treating seizures. CBD products are also helping with cancer, relieving anxiety, soothing chronic pain and much more.
• CBD products should work immediately – There are so many promises of guaranteed immediate results floating around the market; these claims can give many reputable brands a bad name. As with any other health product, if the user is not suffering from any of the conditions CBD is known to help with, no significant changes will likely be noticed or felt.
• CBD products are all the same – When they think of marijuana, many people still associate it with grinding up herbs and rolling up a joint. But there are so many ways to consume cannabis, like edibles and bath bombs. These products can contain such small levels of CBD that they don’t even impact work drug tests, yet they still lessen a range of physical pains.

The Future of the CBD Industry

Of course, it is hard to claim the benefits of CBD products with the studies (or lack thereof) that are currently available. The wider opinion still hinges on the basic questions of ‘whether we really need it or not’ and, if so, ‘how do we need it in our daily lives’. While popularity is visible and still growing, the above misconceptions do make it challenging for CBD merchants – and not just from a consumer standpoint. Finding basic merchant services – that are straightforward for other industries – is a complicated task.

Where to Get CBD Merchants Services

Being part of the CBD industry pushes your business into a “high risk” category. As such, traditional providers will be unwilling to work with you. The secret to finding CBD merchants services and securing the secure payment processing services you need is choosing the right provider for your business type. The biggest challenge is knowing where to search.

The payment processing reviews and information Best Payment Providers has to offer can help you get started. Find everything you need to compare providers, browse other merchant’s reviews and keep track of the latest CBD industry news.