Sunsoil, one of the largest CBD brands in the United States, was founded in 2015 by co-founders Alejandro Bergad and Jacob Goldstein out of a desire to affect positive change through its products and actions. In a runaway sector that’s filled with tons of sellers that don’t mind compromising on quality for the extra buck, it is extremely refreshing.
The company disregards the notion that price determines quality, and it has pioneered new technologies that have allowed it to greatly reduce its operational costs while constantly improving quality.
In a move that’s sure to rattle the industry, the company has announced that for the entirety of February 2020, it will sell its entire portfolio, including CBD soft gels, capsules, oil drops, and coconut oil 50% off. Dubbed ‘For the People February’, the month-long campaign will be live on the company’s website, and at most of the Brand’s retail partners, including Vitamin Shoppe, Lucky’s Markets, Earth Fare and Fresh Thyme.
Alejandro Bergad, CEO and co-founder of Sunsoil, says the company is excited about its 2020 initiatives to lower the price of CBD and increase the hemp extract’s accessibility.
“We started with the goal of making the best product and what we discovered was how to do it cost-effectively. Sunsoil has been growing for four years, moving the needle towards people over profits. We’ve been scaling operations, increasing efficiency, and passing along cost savings to consumers,” he explains.
The Vermont-based CBD company owns the entire process from growing hemp to processing and selling CBD, and this has allowed it to significantly scale down its operational costs. Sunsoil grows USDA-certified organic hemp on its farms in northern Vermont. It has pioneered and scaled a natural, whole-plant extraction process called lipid infusion that uses coconut oil and heat to naturally extract CBD from the plant.
“The cost for a consumer to try CBD is still high compared to other supplements. We hope our February campaign will alleviate some of the cost barriers for those wanting to enter the space and make it easier for those who have made this part of their daily lives,” says Bobby McConnell, Vice President of sales and marketing.
“Sunsoil is encouraging consumers to vote with their dollars in February. We are not looking at this event as a standard discount program, but more of a movement. We are asking consumers to join us on our journey to offering affordable access to high-quality CBD.”
Industry watchers say this campaign by Sunsoil is likely to be seen as a challenge to the entire industry, including Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP), to think harder about ways through which CBD can be made more affordable for consumers.
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