The love pet owners have for their pets is translating into big sales boosts for cbdMD and its Paw CBD line of pet products. The Charlotte, N.C.-based company reported this week that from one quarter to the next, Paw CBD has seen a 64% increase in net sales.
For the quarter ended in March, cbdMD said Paw CBD had sales of $750,000 — a figure that was up to roughly $1.2 million for the quarter ended in June.
“Paw CBD was launched less than one year ago, and now it is one of America’s leading CBD pet brands,” said Ken Cohn, chief marketing officer of cbdMD. “Sales metrics are all moving in the right direction, with Paw CBD now trending at over a $7 million annualized run rate, and cbdMD’s overall direct-to-consumer sales making up over 70% of the brand’s revenue. We are seeing the DTC power of cbdMD.com translating into significant growth for PawCBD.com.”
Cohn said that the company would be rolling out Paw CBD subscription and rewards programs for its DTC shoppers shortly while focusing on cross-selling, customer retention and education. “As we mimic the expansion of our original cbdMD products, we are confident that Paw CBD will be a leader in the CBD pet market,” he said.