Airsoft, a major technology provider in the foreign exchange (forex) and cryptocurrency space, has revealed exclusively to Finance Magnates that it is launching an e-commerce platform for cannabidiol (CBD) products.
The platform is a full turnkey solution for the CBD market – the first of its kind. The software aims to take away all the logistics problems that exist in the CBD market, allowing the firm’s clients to concentrate solely on managing their call center or online website.
The solution has e-commerce related CRM features with advanced learning tools. This includes integration to CBD related affiliates and to payment solution providers with approved CBD merchant accounts.
Furthermore, the platform provides access to CBD hemp-derived related products at a discount to suggested retail rates that can be applied as a private label. Clients can also access the full drop shipment protocol with tracking tools.
The CBD platform was soft-launched in August of this year, in order to collect selected clients’ feedback and suggestions. According to the company, the results were very promising.
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CBD market is red hot
In 2018, the global CBD market was valued at $3,088.51 million, according to research firm Market Research Future. By 2026, this market is estimated to reach $2,207,162.54 million, and record a compound annual growth rate of 125.58 percent from 2019 to 2026.
Following the passing of the Farm Bill in the United States, which legalized hemp, the market has attracted more confidence. It was this event that sparked Airsoft’s interest in the market. Furthermore, the company’s drive to find new business verticals also motivated the software provider to take on this new market.
Speaking to Finance Magnates Shay Benhamou, the CEO of Airsoft Technolgy said: “We at Airsoft are always looking for new business verticals where we can apply our proprietary technology to attract clients in growing industries and segments.
“The passing of US Farm Bill and global deregulation trend in the CBD industry has opened the door to a new industry that we believe will be a substantial growth factor for Airsoft in [the] coming years.”
In particular, the company started exploring the online CBD sales industry after the bill was passed in the final quarter of last year. Then, in the first six months of 2019, Airsoft put together a dedicated team to define and create the turnkey solution, the company told Finance Magnates.
Airsoft will be an exhibitor at the upcoming Finance Magnates London Summit on the 13th of November. If you’d like to know more information on the CBD product offering, the company encourages participants to visit and ask more questions.