Sunsoil, a certified organic hemp farm and vertically integrated CBD brand based in Vermont, announced today price cuts of up to 40% – a move that runs counter to its major competitors and economic inflation at large. This comes on the heels of a successful new product launch into the edible CBD segment with Sunsoil’s first-ever organic, vegan CBD gummies. The price slash reflects the brand’s core mission – to make CBD an affordable medicinal option for those who are in need. They believe CBD should be as readily available and accessible as Advil or Tylenol.
In a recent survey of 2,500 Sunsoil customers, 40% of respondents reported cutting back on their CBD use due to financial concerns. In response to the findings, Sunsoil accelerated its plans for price reductions and announced sweeping changes to their product line, including:
Reducing tinctures prices by up to 40% with Regular and Extra Strength options available.
Reducing capsules prices by up to 30% with new sizes and vegan options available
Announcing new gummy flavors, Berry and Lemonade, with two major retailer announcements coming soon.
“Since 2015, we’ve demonstrated our commitment to making great CBD accessible to everyone. Now, as the cost of everything rises, we’re working even harder to reduce our prices without ever compromising on quality,” says Bharat Ayyar, General Manager at Sunsoil.
“Even prior to the onset of inflation, a monthly supply of CBD from most brands cost upwards of $100,” explained Bharat Ayyar. ”The biggest companies in our industry continue to gouge customers, which drastically affects people’s well-being and greatly limits the number of people who can afford to try CBD.”
Prior to these recent price cuts, Sunsoil’s pricing (5 cents per milligram of CBD) was already roughly half that of the industry average (10 cents per milligram).
Sunsoil products now start as low as 3.75 cents per milligram, or 3 cents per milligram with a subscription. Comparable products from Charlotte’s Web and +PlusCBD cost 6.7 cents per milligram (+77% more costly) and 8 cents per milligram (+113% more costly), respectively.