- SinglePoint is undertaking a B2B cultivation effort to help companies specializing in cannabidiol (CBD) products reach a larger national market
- In conjunction with a national distribution partner, SinglePoint is offering to growing CBD product companies the potential of entering mass-market stores such as CVS, Kroger and Dollar Tree
- The ‘Strategics’ program may be particularly helpful as shelf space in the booming CBD industry tightens
- Investment bank Cowen & Co. is predicting a CBD market revenue outlook of $16 billion by 2025, growing from $600 million-plus in 2018
Emerging technology cultivator SinglePoint Inc. (OTCQB: SING) is launching a national distribution program that fosters the retail network aspirations of fast-growing cannabidiol (CBD) product companies to get their products into consumers’ hands.
The ‘Strategics’ program will provide qualifying companies, with annual revenue above $2 million, a pathway to market through a national distribution partner that has nearly $2 billion in annual sales to mass-market stores such as CVS, Walgreens, Rite-Aid, Dollar General, Dollar Tree, Giant Eagle, Meijer and Kroger grocery stores, as well as a wide number of regional and national convenience stores.
“Until now, startup, established and fast-growing CBD product companies have faced tremendous challenges in growing their business beyond e-commerce and regional distribution due to the enormous capital and logistics involved,” SinglePoint President Wil Ralston stated in announcing the endeavor (http://nnw.fm/Vmx3Q). “We are excited to roll out our ‘Strategics’ marketing program with a major national distributor that is receptive to building a portfolio of fast-growing CBD products and providing those products to their established mass market clients.”
SinglePoint specializes in acquiring small-to-mid-sized companies that exhibit promising new technologies. SinglePoint’s focus on diverse market points offers investors the opportunity to back a wide assortment of assets, including payment processing, cannabis and blockchain technologies.
The reach of SING’s program to well-known wellness industry retail outlets could be a potential boon to companies as an expected tightening of shelf space occurs in parallel with the exponential growth of the CBD market. Analysts at New York-based investment bank Cowen & Co. recently forecast a CBD play revenue outlook of $16 billion by 2025 – a significant jump from 2018’s estimated $600 million to $2 billion in CBD sales, according to Forbes (http://nnw.fm/57d0D). Forbes conducted a poll of 2,500 people, finding that nearly 7 percent use CBD products and nearly 20 percent had at least sampled a CBD-infused beverage.
SinglePoint has already commenced screening prospective companies for the ‘Strategics’ program and forwarding qualifiers to the national distribution partner. SinglePoint is not currently identifying the national distributor because of industry competition and the need to preserve the prescreening process, but approved companies will have the opportunity to present themselves directly to the national distribution partner, the announcement indicates.
The ‘Strategics’ program offers the additional benefit of membership in SING’s SingleSource cooperative supply chain, which includes options for buying CBD distillate, CBD isolate, hemp flower and raw biomass materials at a competitive price using a simple process.
To apply for the program, the principals of companies are encouraged to reach out to [email protected], utilizing the subject line “(Company Name) Strategic CBD Distribution,” or to call 855-203-3318 for more information.
For more information, visit the company’s website at www.SinglePoint.com
NOTE TO INVESTORS: The latest news and updates relating to SING are available in the company’s newsroom at http://nnw.fm/SING
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