Charlotte’s Web is the leading brand in the hemp-derived CBD industry.
Before 2020, Charlotte’s Web had some of the most expensive products on the market among the most trustworthy CBD brands.
The company could charge these prices since it was one of the few brands that could be trusted in a young industry with relatively little brand recognition.
However, as other brands have started to close the gap in terms of market share and the COVID-19 pandemic manifested, Charlotte’s Web conducted an overhaul of their product line.
Charlotte’s Web cut prices across its entire product lineup by anywhere from 15-20% during March and April 2020.
For example, the brand’s signature product—the Original Formula 50mg/ml CBD Oil Tincture—previously cost $149.99; however, now it’s only $119.99.
Customers can get CBD oil from the brand for as low as $24.99.
Charlotte’s Web’s gummies used to cost $54.99; now, they are only $44.99 without any changes to the formulation of the gummies or number of gummies per container.
Some of Charlotte’s Web’s topicals only cost $14.99, and no topical costs more than $39.99.
Beforehand, the brand’s cream was $49.99.
Not only did Charlotte’s Web lower its prices, but these prices also became more valuable thanks to the increase of CBD in the brand’s products, namely its topicals.
Charlotte’s Web reformulated their CBD topicals, doubling their CBD concentration and creating new labels.
The previous labels on the brand’s topicals were slightly confusing to consumers.
For instance, the Charlotte’s Web Hemp-Infused Cream label said it contained 750mg of hemp extract.
Since there was no other information on the label or the product’s webpage, consumers would have to check the certificate of analysis (COA) to find out how much CBD was in the cream, something that can’t be done without a physical product in hand (and thus, a purchase).
COAs for the creams revealed that CBD made up only half of the 750mg of hemp extract.
Today, the labels are more straightforward, stating that the number of milligrams is indicative of the number of plant-based cannabinoids in the product—which does not solely have to be CBD.
The brand has also standardized the concentration for its Charlotte’s Web-branded topicals at 300mg per ounce of product, a substantially potent concentration.
The brand’s new products, many of which were added to the already impressive lineup by acquisition, are not so standard.
In June 2020, Charlotte’s Web completed its acquisition of Abacus Health Products, Inc., a company that owned CBDMEDIC, CBD CLINIC, and Harmony Hemp.
Charlotte’s Web had been supplying some of its full-spectrum, hemp-derived CBD to Abacus for five years.
Now that Charlotte’s Web owns Abacus, all of Abacus’ products will only use Charlotte’s Web’s proprietary hemp extract.
The acquisition gives Charlotte’s Web access to OTC-registered topicals, specifically through CBDMEDIC.
OTC-registered means that a product has met the FDA criteria to be sold as an over-the-counter medicine, and it also provides the ability to make claims about the product’s efficacy.
Albeit, claims cannot stem from the CBD in the topical because the FDA has not officially recognized CBD as safe and effective.
That’s why CBD won’t be included in the “Active ingredients” section on the back of the label.
“Acquiring CBDMEDIC was right for us because of the claims we could make, especially since we’ve seen a huge demand for pain relief, eczema, and arthritis,” said Bryce Sessel-Glassberg, the Affiliate Manager at Charlotte’s Web, in an interview The CBD Insider. “It was just the right time.
The CBDMEDIC products have been brought onboard to the Charlotte’s Web website, adding more than a dozen products to the store.
Uses for these products range from relieving arthritis pain to dealing with acne, and they come in different forms, such as ointment or patches.
CBDMEDIC says it uses 98-99% natural ingredients, a broad-spectrum and THC-free extract, and synergistic ingredients for absorption.
All of the products are also free of steroids, artificial dyes, and synthetic fragrances.
“They’re a great entry product for a lot of customers,” said Sessel-Glassberg, “because they’re not ingestible, topically applied, work with the ECS within the skin, and are an easy way to start experiencing benefits.”