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CBD Vending Machines are Coming…

Steven Lachard by Steven Lachard
January 22, 2019
in Business, Investments, Marijuana Stocks, Technology
CBD Vending Machines - Hemp Industry News

Photo Credit - One Step Vending, Corp.

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After a quick walk through any LaGuardia Airport terminal, you will have seen vending machines from Best Buy Co Inc. (NYSE:BBY) selling headphones, automated mini-pharmacies fromย CVS Health Corp. (NYSE:CVS) selling Advil and Bandaids, and down jacket dispensers from Uniqlo, a wholly-owned subsidiary of Fast Retailing Co. Ltd. (OTC:FRCOY) (OTC:FRCOF).

With the U.S. hemp-derived CBD market estimated to top $20 billion by 2020, it’s only logical that vending machines may soon become a larger piece of the CBD supply chain.

CBD Vending Machines Already in Brooklyn

Recently,ย One Step Vending, Corp. (OTC:KOSK) announcedย successful installations of CBD vending machines in convenience stores around Brooklyn offering CBD infused products to adults including “gummies, capsules, CBD oil, drinks, coffee and tea.”

One Step Vending President David Garfinkel commented:

โ€œWeโ€™re very pleased with the warm reception of the vending machines in our merchant network stores and we currently work closely to promote the first products, support the customers and make available the best products in the American CBD market through our vending machines.โ€

In compliance with recently passed Farm Bill legislation, “all products sold via KOSKโ€™s CBD Kiosks are THC-free” and sourced solely from U.S.-based suppliers.

Increased Adoption of Vending Machinesย 

CBD Vending Machines are Coming
Photo Credit – Steven L. Johnson via Wikimedia

A recent report fromย Global Market Insights, Inc. shows that worldwide vending machine demand is steadily on the rise, and is expected to grow at a compound annual growth rate of around 16% through 2024.

Not only do vending machines have a smaller carbon footprint compared to traditional retail operations, but their wide variety of logical applications ranging fromย public transport hubs to shopping malls allow sellers to increase their consumer reach tremendously.

Additionally, they can help in “accelerating the shopping process with a detailed product overview and various payment options. The incorporation of such smart solutions in stores is driving the sales and profitability of the retail businesses, thereby accelerating the market demand.”

Conclusion

One Step Vending Corp. just installed their first CBD vending machine back in December, but they’re already penetrating the New York City market with 15 machines. We’ll be watching closely to see if competitors pop up. Be sure toย subscribe to updates hereย so you never miss an important update.

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Tags: cannabidiolCBDindustrial hempOne Step Vending Corp.OTC:KOSK

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Steven Lachard

Steven Lachard

Steven Lachard is a staff writer for MJobserver.com with a particular focus on marijuana stocks. Beyond MJobserver.com, Steven's pot stock insights have been featured on TalkMarkets.com and more.

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Comments 2

  1. Avatar Sharen O'Leary says:
    2 years ago

    with 3 processing centers and 25,000 acres they could plant hemp why doesn,t hemp stock price reflect new large growth potential i think hemp inc. can produce way more then charlette web (cwbhf)

    Reply
  2. Pingback: CBD Vending Machines are Comingโ€ฆ – CBD Network

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