Shopify is a great platform to start a business online. What about Shopify CBD? This article will help you know how you can sell CBD products on Shopify. Also, you’ll learn about a reputable payment services provider for your eCommerce transactions.
CBD Market Growth
The size of the global cannabidiol (CBD) market was valued at USD 2.8 billion in 2020. The market is anticipated to grow at a compound annual growth rate (CAGR) of 21.2% during the period from 2021 to 2028, according to Grand View Research.
The global market for CBD oil is forecast to grow from $967.2 million in 2020 to $5.3 billion by 2025, at a CAGR of 40.4% from 2020 to 2025, according to GlobeNewsWire.
Are you starting a CBD business on Shopify? Before launching your hemp or hemp-derived products sales on Shopify, make sure to review and comply with federal, state, and local laws. Besides, follow the updates from the U.S. Food and Drug Administration (FDA).
Besides, when starting an eCommerce business, it’s critical to use proper merchant processing services. Thankfully, there are reputable payment specialists carrying a 5-star rating with Best Payment Providers that can provide you with advanced and cheap payment processing solutions. With a reliable merchant processor, you can get the best help for your Shopify CBD and eCommerce transaction processing.
Look for a payment services provider that enables managing global payments across a single platform. Thanks to a simple transaction process and frictionless fraud prevention service, you can boost your sales and generate more revenue.
You can sell CBD products on the internet and in person safely and securely. If you’ve chosen Shopify as your eCommerce platform, be aware it’s partnered with multiple payment gateways that allow merchants to successfully grow their Shopify CBD business.
You need to select a shipping strategy that is the most suitable option for your needs. Shopify is designed with location-based settings that you can add for your hemp-derived CBD products to keep sales in the permitted states. As a result, you’ll have more time to spend on building your business and avoid spending a lot of time monitoring orders.
Shopify offers the following scalable pricing plans:
- Basic: This is ideal for new eCommerce businesses offering occasional in-person sales.
- Shopify: This is ideal for growing businesses offering online or in-store sales.
- Advanced: This is ideal for scaling businesses that need advanced reporting.
Selling CBD on Shopify
You can sell hemp-derived CBD products on Shopify. You just need to follow the steps required for selling CBD products on the platform and use a reliable payment processing service to scale.
Author Bio: Content crafter Alex Wilmont has been active in the payments industry for over 15 years. He lives simply, gives generously and loves his 2 dogs. His mission is to enhance and innovate the fintech industry for years to come.