If a trend is even beginning to form, there is a good chance that Martha Stewart will want it for her business.
In the last year, the 81-year-old home lifestyle entrepreneur got seriously into NFTs.
Together with launching an NFT boutique on her website, Stewart turned over 100 images from years of Thanksgiving photo shoots for “Martha Stewart Living” into online images that fans can purchase as NFTs — from the overflowing leftover turkey sandwich to a horn of plenty given a modern, stylish spin.
The NFT trend peaked, and as any celeb or would-be celeb appeared to come up with their version, interest started waning. While there have been over 225,000 NFT sales in September 2021, that number fell to 19,000 by May 2022.
Pumpkin Spice-Flavored CBD?
One trend that has not been taking place is CBD — one of the active ingredients in cannabis. Cannabidiol has many of the plant’s relaxation-inducing properties but lacks THC content and so cannot cause a high.
As a result, it’s become extremely popular in everything from oil to food and makeup. The American CBD market was worth $12.8 billion in 2021 and is predicted to grow with a CAGR rate of 21.7% by 2028.
In some sense, it’s become a generation’s snake oil as it is often marketed as being able to cure everything from headaches to depression.
Also read – Can Cannabis and Hemp-Infused Beverages Replace Your Boozy Drinking Habits?
Stewart first launched a line of CBD gummies in partnership with Canadian marijuana producer Canopy Growth (CGC) in 2020. Over the subsequent two years, she would expand the road with different flavors and add other CBD-infused products like skincare.
The gummies, which sell for $34.99 for a pack of 30, are currently available in flavors such as citrus and berry medley. And because the fall looms and pumpkin spice mania ramps up, Martha Stewart CBD announced that it might launch a new pumpkin spice flavor.
They, too, will sell in packs of 30 on marthastewartcbd.com. Each gummy has 10 milligrams of active CBD.
“The Pumpkin Spice flavor signifies the start of the fall season, and I wanted to capture this delicious moment with our CBD gummies,” Martha Stewart said. “It’s always important and a pleasure to expand our offerings and still make CBD convenient and tasty to enjoy every day.”
Are CBD Gummies a Lucrative Business?
The gummies tap into several trends directly — along with the growing demand for CBD, it looks like brands start peddling pumpkin spice products earlier and earlier every year.
Food research firm Tastewise told Fast Company that there was a forty-five rise in consumer interest in pumpkin spice products between October 2019 and October 2020, as well as a 221% rise in its appearance on menus during the same period, while business intelligence company Morning Consult found that 25% of Americans feel that late August is the perfect time to start seeing pumpkin spice products.
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CBD, meanwhile, has long been how for mainstream brands to tap into loosening attitudes toward cannabis without having to navigate the convoluted state-by-state web of actually selling it as marijuana, which is currently illegal at the federal level.
“Huge companies are hesitant to embrace CBD as its initially ‘Wild West’ market goes through growing pains,” CBD company Sunday Stories founder Mike Sill wrote for Forbes. “But once the regulatory landscape clears and stabilizes, I think many corporate giants will look to diversify their product lines with CBD and add brand-new products that open avenues of growth.”