Amazon Inc (NASDAQ: AMZN) has entered the global CBD market. It was reported earlier this week by BusinessCann that the giant online retailer has begun selling CBD products, but only on a trial basis, with the retailer referring to it as a pilot program.
The pilot program is being held for UK customers only, with only a select number of retailers. Commenting on the story, the retailer said that it is “always seeking to increase the selection we offer customers.” The pilot conducted is by invitation-only to select retailers, with the company requiring careful screening to ensure that products listed comply with government regulations on the sale of CBD.
The pilot project evidently began over the course of the summer, with further specifics not provided.
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Further, the company is quick to comment that the sale of any ingestible hemp product is prohibited on the platform for sellers, except for those participating in the limited invite-only pilot project. BusinessCann’s work on the story has outlined that approximately ten manufacturers have been selected to list their products, including well known brands Healthspan and Natures Aid.
The listing of CBD-containing products in the UK follows recent regulatory developments focused on the cannabinoid within the country. Regulators in the United Kingdom have indicated that they view the cannabinoid as a food supplement, and that it is looking to develop a well-regulated sector for it.
Information for this briefing was found via BusinessCann and Amazon. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
One Response
As a part of this “trial” Amazon UK was involved in manipulating reviews (pushing negative reviews down the main page with orchestrated voting campaign) of their CBD listings on Amazon UK which is against Amazon policy (this fact is very easy to prove). All CBD listings being sold by Amazon UK directly, as Amazon UK does not allow CBD manufacturers to sell their CBD products independently on Amazon platform (Amazon pocked most of the margin while selling directly), which is potentially against antitrust and free competition law. Amazon UK was closing listing of other hemp oil sellers in order to clean the way for their CBD listings with manipulated reviews. Well done Amazon UK.