And So It Begins... 7/11 Inks Deal to Place CBD Products in 4500 Stores
Well buds, if it seems to good to be true, it usually is. It turns out that we got played on this one but we can't quite figure out if Phoenix Tears Wellness or this intentionally trolled everyone with their official press release or, perhaps worse, if they believed the story themselves. Whatever the case, 7/11 released this official statement late today: "We have made no agreement or partnership with this company and do not know why they said that". Yeah well, neither do we! The good news is, you can still get you some Hi Chews!
ORIGINAL STORY BELOW
For a long time, the only place to get Hi-Chews around here was the 7/11 convenience store. Those delicious terp-filled candies, despite their name, do not actually get you hi(gh), but were always worth the trip.
Today 7/11 announced another hot product launch that, despite what you may think, will not get you high but will be a complete game-changer – hemp derived CBD products.
As more local mom & pop smoke shops and head shops began to increase their inventory of edible, smokeable, dabbable, rubbable, and drinkable CBD options many people wondered exactly what the legality was, and how long it might be before a behemoth like 7/11 got in the game.
Well, that day has arrived as the nationwide chain of stores announced their plan to stock CBD products on the shelves of 4,500 locations by the end of this year. The initial rollout will take place in seven states that have legalized the recreational or medical use of cannabis and are thus deemed CBD friendly - California, Colorado, Florida, Illinois, Maryland, Massachusetts, Nevada and Washington DC. They aim to nearly double that total over the next three years, but if it goes as well as they hope, chances are they will expand the offering even faster especially as more states loosen their laws.
This announcement signals not only a mainstream acceptance of CBD, but also sends the message that if a corporate monolith like 7/11 and their team of lawyers aren't afraid of slangin' it, neither should anyone else.
Denver-based CBD company Phoenix Tears was granted the distribution deal through a company called MarketHub Retail Services, a distro company that works hand-in-hand with 7/11 and clearly sees the CBD dollar as a good dollar.
In 2017 some 155,000 convenience stores were reported as open for business across America. Just like Slurpees and Slim Jims, if 7/11 sees any sign of success with this bold move the majority of their competitors are sure to follow their lead.
Add on another 43,000 drug store/pharmacies nationwide and you see the enormous retail potential for hemp-derived CBD products.
Can cannabis be far behind?