CBD is probably the breakout medicine of the century. Dubbed by some as a wonder drug, the cannabis extract has been found capable of alleviating a variety of medical conditions ranging from chronic pain, anxiety, and high blood pressure to rare forms of epilepsy in children. Quite naturally, demand for CBD products has boomed, with industry players estimating that the industry will be worth $23.7 billion by 2023 in sales alone.
7-Eleven has joined the fray, and they have come up with a radical idea. The convenience store chain will soon roll out CBD-dispensing robots in its Colorado stores, and customers will be able to buy CBD products via a touchscreen, a process that won’t take more than 3 minutes. They will also entertain and educate customers on the benefits of CBD products. Greenbox Robotics developed the artificial intelligence (AI) powered robots.
According to Zack Johnson, founder and CEO of Greenbox Robotics, Greenbox makes it easy to discover, select, and purchase cannabis and CBD products via self-service robot locations. “We are bringing a $55 billion-plus industry over the counter with a simple consumer touch.” He adds that Greenbox Robotics inspects and approves every product before placing it inside its robots.
Boulder and Denver are the first cities in the state to receive the CBD-dispensing robots, with one store near the University of Colorado Campus and another at Fox Theatre in Boulder. Kenneth Monfort, the owner of the Boulder and Colorado locations, says that he believes that adding Greenbox to the 7-Eleven stores will add value, intrigue, and delight their customers while reducing shrinkage. “We trust Greenbox to curate the CBD collection we offer our customer base,” he adds.
This is part of Monfort and Greenbox’s pilot program. They hope to roll out robots in more locations across the state. “What we’re looking for is to generate sales and show 7-Eleven corporate that this is a value add, we’re introducing a product that is protected, not on shelves to risk theft, but we are also looking to generate sales for you in your store beyond just the CBD product,” says Greenbox Robotics CEO Zack Johnson.
The robots are used to dispense a variety of CBD products and strains of marijuana all over the state. The robots will also monitor and collect information on product shelf life and purchasing trends that will help them better understand customers and their preferences.
Industry watchers believe that CBD companies like IONIC Brands Corp. (CSE: IONC) (OTC: IONKF) and Youngevity International Inc. (NASDAQ: YGYI) see the robots dispensing CBD as a sign that ordinary shoppers have embraced CBD, which is a good thing for the future of the industry.
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