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How Qoomed Built a New Kind of Marketplace for CBD Products

The CBD industry is booming – the market for CBD (or cannabidiol) products was valued at $6.36 billion this year and is projected to reach $59.3 billion by 2030, with compound annual growth of 18.2% . The CBD market faces limited funding, payment processing issues, marketing restrictions, and supply chain inefficiencies. These challenges can be solved by companies like Qoomed.

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There are multiple reasons for the tremendous growth of the CBD industry. CBD is increasingly being used in the cosmetic, culinary, and pharmaceutical industries. Proponents continue to claim that the substance could be helpful in treating anxiety, preventing seizures, reducing inflammation, and relieving pain. In addition, there are already some drugs, such as EPIDIOLEX, which have been officially approved by the FDA to treat seizures associated with Lennox-Gastaut syndrome (LGS), Dravet syndrome, or tuberous sclerosis complex (TSC). This has taught a positive image of the substance.

The widespread use of CBD products is also supported by regulators. In recent years, several countries have approved the sale of diverse CBD products with a certain percentage content of the active ingredient. Consumer awareness about health, their rising income, and the legalization of medical cannabis are expected to help the CBD market grow rapidly in the near future.

Read more on the subject and find the latest cannabis news from around the world with the Hemp.im mobile app.

The current challenges of the CBD market

However, the CBD market is facing many hurdles that should be overcome by CBD companies. One problem is the limited sources of funding – due to the still questionable legal status of CBD products in some countries, there are hardly any crowdfunding platforms that allow funding for CBD companies.

Another problem is with payment methods – many payment providers are still reluctant to process payments for CBD products. This is a clear limitation for sellers of CBD products, who need to look for alternative solutions. Buyers also remain reluctant to use an alternative payment method.

A third problem is marketing. For legal reasons, not all CBD products can be freely marketed. Some marketing channels place certain limits on this and may also completely exclude advertising for CBD products from their platforms.

Supply chain optimization is another challenge. Because the CBD industry is still in its early stages of development and CBD products are hardly sold by large retailers, inefficiencies exist in existing supply chains. In addition, consumer trust is also not particularly high due to the lack of transparency in the origin and processing of the substance.

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Despite the challenges of the industry, there are already a large number of CBD stores in Germany. However, these stores rarely offer solutions to the problems already explained. A relatively new but innovative provider in this field, which focuses on solving the biggest hurdles for CBD businesses and consumers, is called Qoomed.

Qoomed: a new kind of marketplace for CBD products

However, Qoomed is more than a simple online store – the marketplace sees itself as an ecosystem that takes the potential of CBD businesses to a new level.

Unlike its competitors, Qoomed goes far beyond the functionalities of a simple online store – the provider is about a feature-rich online marketplace that directly connects demanders and sellers and provides a range of different solutions for a variety of players in the CBD industry. In addition to sellers of CBD products, growers, producers, resellers to pharmaceutical companies and laboratories can also maximize their profits through the Qoomed marketplace.

Solutions on the Qoomed marketplace include multiple e-commerce tools, dashboards for managing orders, CRM systems that facilitate customer management, advanced analytics tools, and many other features. In addition, Qoomed is also the first project to make the CBD industry accessible to dropshippers.

Qoomed’s solutions to the key challenges of the CBD market.

Qoomed is trying to solve the central problems of the CBD industry. In addition to the CBD marketplace, Qoomed is working on several solutions that should allow CBD companies to access potential funding sources on a crowdfunding basis. The marketing tools that the marketplace offers CBD companies should also partially solve the problem with limited marketing.

Another feature of Qoomed, which may also potentially revolutionize the market, is the multiple payment methods – on Qoomed, buyers can pay with cryptocurrencies in addition to fiat currencies. Because cryptocurrencies are not subject to the traditional limitations of traditional bank payments, CBD companies can achieve a higher level of freedom, expanding their sources for monetization.

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Qoomed also plans to use blockchain technology to significantly optimize existing supply chains – through the novel technology, a high level of transparency can be created, which would not only increase trust in CBD products, but could also increase profits for CBD companies due to a higher number of sales and cost minimization.

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(Featured image by Laryssa Suaid via Pexels)

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First published in AK-KURIER, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Arturo Garcia started out as a political writer for a local newspaper in Peru, before covering big-league sports for national broadsheets. Eventually he began writing about innovative tech and business trends, which let him travel all over North and South America. Currently he is exploring the world of Bitcoin and cannabis, two hot commodities which he believes are poised to change history.