CBD maker Lazarus Naturals is cutting its prices in what it said was a challenge to the industry. The Portland, Ore.-based company is reducing the prices of its products by 20%-40% while increasing the potency of some of its standard potency full-spectrum CBD tinctures, looking to change the conception that price and quality and directly correlated.
“Our company was founded with a mission to provide high-quality CBD for everyone and we price our products fairly,” said Lazarus Naturals founder and CEO Sequoia Price-Lazarus. “The CBD industry sets prices according to perceived quality, but we’re doing it differently. We asked ourselves, why should high quality, effective CBD only be available to those who can afford overpriced products?”
The company has made a name for itself by offering a 60% discount for veterans, low-income households and individuals with long-term disabilities, and its latest price-cutting efforts are aimed at bringing more value to more consumers, Lazarus Naturals said.
At the same time, the company’s tinctures are getting a 33% boost in potency, with its 30-ml tincture now containing 600 mg of CBD, compared with 450 mg, and its price has gone from $25 to $20 — or 3 cents per milligram.
Price-Lazarus also is touting the company’s safety and quality efforts, which include third-party lab testing, the results of which it provides with every product. Customers also can use the company’s website to check a product’s purity by batch number.
“At Lazarus Naturals, we have an efficient process to control purity, potency, and consistency by doing everything ourselves, from growing our own hemp and extracting the CBD oil, to formulating and packaging the finished products,” Price-Lazarus said.