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I would agree with Oils and Digestibles, i'd want natural CBD, not Lab per se, however like anything ...
Why do you pay GBP 450 for a Balenciaga Tee when its of similar quality as a SuperDry Tee, but simply has a different logo.
People are crazy. You pay for a label if it represents niche, status, on trend.
I've ordered some of the products from the site, see what they are like.
One of my friends, who worked at McKinsey as a Pharma Consultant, just when she was starting out, and before she went into a meeting, the senior Director who was with her, told her to look expensive.
ATB.
FX - I think the pricing for the skin care and cosmetics range is fine and is in line with the competition for where these products are targetting. Cosmetics are not "commodity goods" as such as there is much more to them than just the CBD/G content. The oils however are simply a way of administering a specific dose of CBD orally and on that basis I feel that a price point at 10x what is already available on High Street stores and online is going to constrain. I would rather see them get the price competitive (and that doesn't mean the cheapest in the market) than have to reduce prices in a few months as that sends out the wrong signals. The ingestible oils are literally all about getting CBD into the bloodstream and no more (although there are a number of different flavours available in the market). I find it unlikely that customers that use CBD oils (and I am one) will go out and pay 10x more for one with cool packaging that offers nothing more than the product they are using.
If someone can give me an explanation of why they feel the price point of the oils makes sense I would love to hear it.
I think the pricing reflects the uniqueness of the product.
Yes, their are other cbd products out there, and with more established brands and quality products. But our usp is that they is no thc and its not linked to cannabis in the same way.
Our target market includes those that want to stay away from "drugs" be it for sports, religious, personal, criminal history or work reasons I think their is a sufficient market prepared to pay the premium.
Lots of people would be uncomfortable buying a more generic cbd product for parents, older relatives, children, teenagers etc.
imo ... pricing looks fine for the segment of the market they are targeting, evidently the actual quality of the product needs to be there.
Good feedback from that, reviews, word of mouth is then all you need.
The website imo, looks poor. Not to the standard I would expect if you are pricing at the levels suggested.
I buy decent face wash, skin creams etc anyway from https://www.cultbeauty.co.uk/.
Pricing isn't out of the realms of someone might pay now including the trendy CBD tag, ALBEIT, it has to actually be a good product.
I don't think .14 to .16 is out of the realms of possibility, run up, news, consolidation, then main event in February.
GLA