CBD Oil Company Diamond CBD Has Record Sales Month in May
According to a statement released on Tuesday, CBD oil giant and industry leader Diamond CBD set a new record in May for online sales, selling over $1.1 million of its popular CBD oils, edibles, and creams. The company noted that record numbers of consumers had visited the site as well in search of CBD oil, with over 330,000 people clicking on diamondcbd.com during the last seven days of the month.
Those numbers are nearly double what the company did in sales over the same period last year, when PotNetwork Holding, Inc., the parent company of Diamond CBD reported bringing in $569,671 during May of 2018. It’s an impressive rise for one of the top CBD oil sellers in the United States.
“As our product lines and distribution continue to expand, and our brands continue to gain in popularity, we believe that we are well positioned to continue to take advantage of this exploding market,” stated Kevin Hagen, CEO of PotNetwork Holding, Inc. in a statement released Tuesday.
Diamond CBD has been making the rounds of some of the industry’s more popular trade shows recently and was in attendance at the Cannabis World Congress and Expo in New York City this past week. The company exhibited several new products to complement their popular line of CBD tinctures and gummies, including their selection of CBD Dried Fruits, CBD-infused edibles such as apples, raisins, and bananas.
As was noted in another statement put out by the company, they also put on display their new line of CBD Slushy Machines. These are frozen drinks imbued with CBD oil that can be found at gas stations and convenience stores around the country.
“The CWCBExpo has grown into one of the premier events in the industry; it’s a gathering of the top-tier professionals in the sector,” said Kevin Hagen, CEO of PotNetwork Holding, Inc. “This year’s event was a great opportunity for Diamond CBD to solidify ourselves as one of the industry’s top brands, especially at a time when quality is such a pressing concern.”
Reports put out by Cowen Analysts and published in Forbes project a positive outlook for the CBD industry, one in which companies like Diamond CBD hope to thrive. According to Cowen, the industry is expected to reach “$16 billion by 2025. This number is an immense jump from the estimated retail sales of CBD products in 2018 that ranged between $600 million and $2 billion.”
As Diamond CBD noted in a recent statement, Cowen found that most people they polled have used CBD oil recently. According to the report, nearly 7 percent of the 2,500 polled claimed to have had used CBD, a number that was higher than expected.
Experts expect a bright future for the CBD industry, and a bright one for Diamond CBD as well.