By Roland Sebestyén
Following a successful pilot, Amazon will reportedly enter the CBD retail market in the UK in weeks or early 2021. The industry welcomes the American giant’s latest moves and is excited about the future. Some argue it could be a turning point for the CBD market.
Businesscann reported that Amazon would allow a number of CBD businesses to sell their products in the UK. Amazon pointed out in a statement that selling CBD products is illegal on their website, except for those participating in the invite-only pilot.
Siân Phillips, Managing Director of the Cannabis Trades Association (CTA), was happy when asked about Amazon’s presence in the CBD market.
She said: “From the perspective of the CTA it opens up the UK market place for Hemp and CBD oil sellers and yet another platform for legitimate and compliant companies.
“On the negative side, will Amazon’s due diligence ensure that sellers are reputable, have products compliant to UK regulations – i.e. no medicinal claims, correctly labeled, etc – and are able to confirm their supply chain as being Novel Food approved after March 2021?
“We have been in touch with Amazon and are awaiting contact from their policy department.”
Leila Simpson, Head of External Affairs, at the UK Association for the Cannabinoid Industry, told Businesscann that they predicted more major retailers being involved after Amazon’s decision, and it was a “good for the industry.”
According to the latest reports, Amazon found the pilot to be a great success, so it might open the window for a wider range of retailers in the UK as early as in the next few weeks or 2021.
Officials at Amazon are now making a checklist for businesses interested in joining to meet.
First and foremost, as Businesscann understood, applications must be submitted to EFSA (European Food Safety Authority) 1st January, when new Brexit regulations are scheduled to come into force.
Also, the products the applicants seek to sell should adhere to the UK’s Novel Food regulations.
Stuart McKenzie, CEO of Reakiro, said: “Once the door is open, we understand it may take a few months for product owners to registrar themselves online as long as they can satisfy the Amazon terms and conditions for listing as a CBD vendor.
“At this stage, we understand this will be a UK-only market for Amazon. The Amazon people are learning more about CBD, and there is a feeling among them that it could be really big.
“With Amazon on board, it will surely allow consumers much easier access to CBD and ultimately help millions of people live a healthier and happier life.”