The Alkaline Water Company (WTER.Q) partnered with Youtech & Associates to develop an end-to-end e-commerce site devoted to the company’s CBD-infused topical products today.
Youtech will develop the e-commerce strategy for the site in support of its launch through search engine optimization, social media promotions and influencer marketing. The agreement will let WTER take advantage of the opportunities offered by a fully-engaged customer, who can then surf through WTER’s line of CBD infused products and make purchases from anywhere in the world.
“The rollout of our e-commerce strategy complements our brick-and-mortar approach as it will make our products accessible to our customers today, no matter where they reside. Our new e-commerce platform will be fully optimized for mobile, ensuring that our customers have a simple and seamless shopping experience across all touchpoints,” said Richard A. Wright, president and CEO of Alkaline Water.
The global CBD skincare market is valued at $234.1 million and anticipated to grow at a compound annual growth rate of 32.9% from 2019 to 2025, reaching $1.7 billion, according to Grand View Research. The overall CBD market meanwhile is anticipated to grow to over $20 billion by 2024, according to BDS Analytics. The analytics firm estimates indicate that the $4.1 billion CBD derivatives market is presently served through dispensaries while the e-commerce represents roughly $575 million or 14% of the market.
“The e-commerce platform marks our aggressive launch into topicals as a result of our existing loyal customers’ and retail partners’ interest in our trusted brand. In the coming weeks, I would expect news and a direction with timelines for our highly anticipated and in-demand ingestibles product portfolio,” said Richard A. Wright, president and chief executive officer of Alkaline Water.
The expected launch date of the e-commerce website will be Feb. 20, 2020.
In other news…
The company terminated their acquisition of L.A. based bottled-water manufacturer and distributor, AQUAhydrate. Under the terms of the previously announced acquisition, either party had the right to terminate the agreement if the acquisition was not consummated on or before Jan. 31, 2020.
“The termination of the transaction with AQUAhydrate allows us to focus all of our attention and resources on the core strategy of growing our flagship Alkaline88 brand and our A88CBD brand. We view the launch of our portfolio of CBD-infused topical products as a massive opportunity for the company, and we can now fully focus on pursuing the growth of Alkaline88, A88 Infused Flavors and A88CBD,” said Wright.
Earlier this week, the company added Core-Mark to its growing list of convenience store partners. Beginning in April of its Alkaline88 products will become part of the “Smart Stock” program, which will extend the reach of their products to 11,000 convenience stores across the United States.
“This exponential growth that we are seeing is a testament to the strength of our brand and the trust and confidence that our loyal consumers have in our growing portfolio of products. We expect to make continued inroads in the c-store markets and offer our customers the most innovative and in-demand products,” said Wright.
The Smart Stock program offers category-managed sets of top-selling brand name items and includes weekly account services where a SmartStock merchandiser visits the store to order, rotate, date and price items to maintain store sets.