by Kristina Etter | Jan 19, 2021
As prohibition drifts into the past, hemp farmers and producers stand ready for the unprecedented growth forecasted for hemp products in the United States and globally. Unfortunately, several factors continue to impede industry acceleration, including continued FDA ambiguity, lack of consumer education, and limited retail shelf space.
Factor in a deadly disease, an economic downturn, and political chaos, the past year presented challenges for most industries, including hemp. Last year, without question, wasn’t a banner year for shopping, but as we turn the page on a global pandemic, businesses are anxiously anticipating the return of retail traffic.
But, if 2020 was a year to drawback, 2021 is the year to launch forward, at least according to Good Hemp (GHMP), a publicly-traded hemp beverage manufacturer based out of North Carolina. In an interview with CEO and Founder Bill Alessi, we discussed the strategic moves he believes will help slingshot the company into the emerging hemp beverage industry’s pole position.
Gaining Brand Visibility
For the newly emerging hemp market, gaining visibility in mainstream retail outlets has been difficult. Matthew Carr, Chief Trends Strategist at the Oxford Club, mentioned in an email, “I think the biggest issue for hemp beverage companies like New Age Beverage, Charlotte’s Web, and others is a lack of in-store retail traffic.”
Bill Alessi, CEO of Good Hemp, couldn’t agree more and is making a few strategic moves to launch their company forward. Reflecting on the last year, Alessi stated, “We’ve actually managed to expand our footprint, and that’s fairly significant in a COVID landscape.” He continued, “Although sales haven’t exploded during the pandemic, we’ve been focused on getting our ground-game together so we’ll be ready when retail begins to pick up again.”
Image provided by Good Hemp
However, using their downtime during the pandemic to bolster their online presence, Good Hemp focused on developing their Amazon store and making changes to their website to improve their direct-to-consumer shopping experiences. “We are positioned in the top results for all the major key terms in our category of hemp beverages,” Alessi said. “Which means, we should be able to satisfy Amazon’s litany of algorithm challenges to gain notability as a reputable and consistent supplier of hemp beverages with good sell-through.”
Furthering their strategy to gain retail exposure includes partnerships and acquisitions that will increase their physical shelf space, resolve production bottlenecks, and increase their advertising budget. And, acquiring one of the most loyal fan bases in the wide world of sports doesn’t hurt either.