Yield Growth (BOSS.C) is doubling down on the wellness market and it couldn’t make more sense.
Wellness is a difficult-to-define word. In 2017, it was Charcoal. Then it was the endless swell of Instagram-promoted ‘tea-toxes.’ Tomorrow, it may involve wearing your clothes backwards a la Kriss Kross to promote circulation.
But the market is enormous, especially with young people. My own social media feeds are choked with aspirational quotes about “living my best life” and “finding balance” with my diet and exercise. It is now a multi-trillion dollar industry, according to the Global Wellness Institute.
Young people want to feel healthy, stress-free and in control. Yield Growth plans to give them a product worth posting about.
“Wright & Well will appeal to people who are a step ahead in finding health solutions that are right for them,” says Bhavna Solecki, Director of Product & Content at Urban Juve. “The products will stand out in the marketplace because they are the first to use our patent-pending hemp root oil.
The secret is hemp root oil, Yield Growth’s key ingredient. Currently patent-pending, the company’s extraction technology preserves the roots health benefits which maximizes the root’s therapeutic effectiveness.
Hemp root oil is also a key feature in the company’s Wright & Well product line, soon to launch in Oregon.
The products aim to relieve pain and anxiety. Yield Growth will be distributing this new product line through its established network of retail cannabis stores within the state.
The nine initial products in the Wright & Well line include THC and CBD oils and three types of capsules which contain both THC and Yield’s Ayurvedic herbal formulations for arthritis or other forms of chronic pain.
Generalized Anxiety Disorder (GAD) is estimated to affect roughly 7 million people in the United States alone, but that number may be on the rise.
A 2017 Washington Post article reported that a study in the Journal of Developmental and Behavioral Pediatrics found a 20% increase in “diagnoses of anxiety between 2007 and 2012.”
For comparison, the rate of diagnosed depression over that same period only increased 0.2%.
Yield Growth has its finger on the pulse. I was listening to a podcast recently which talked about how young people are still getting married despite lousy economic conditions and shifting social conventions.
The reason? It’s something they have control of. What used to denote adulthood (owning a home, having a steady job one can retire at) is simply no longer available to the vast majority of people.
Having control over one’s own body is something millennials and Gen Z’s can still attain, and they’re willing to pay for it.
“With our new cannabis products, our goal is to reach as many people as possible who are suffering from anxiety, stress and pain,” said Penny Green, Yield CEO.
Yield Growth plans to broaden the scope of their operations beyond Oregon to markets such as California, Nevada and here in Canada.
The brand name itself is a nod to taking control over one’s own health. Wright, as in a playwright or a shipwright, connotes the responsibilities of a maker. Taken as a whole, Wright & Well can be taken to mean ‘the captain of one’s own health.’
Full disclosure: Yield Growth is an Equity.Guru marketing client.