CBD Life Sciences Doubles Down on Self-Service with CBD Vending Machine & Bitcoin ATMs
December 15th, 2021
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CBD Life Sciences Inc. (OTC Pink: CBDL) operates a brick-and-mortar CBD store in Scottsdale, Arizona, and an online shop at LBLBioscienceInc.com. While many companies are content with these distribution channels, the company continues to innovate with new self-service machines targeting both CBD and crypto sectors.
Let’s look at how these moves could pay off over the coming quarters and why investors may want to take note.
CBD Vending Machines
Many CBD companies sell products in brick-and-mortar stores or online. Unfortunately, brick-and-mortar locations have significant overhead, while online stores face enormous competition. As the CBD space becomes more mainstream, the competition is only likely to accelerate as competition for customer attention.
CBD Life Sciences believes that vending machines could offer a better way to reach customers. In December, the company launched its first CBD vending machine at the premium Tanger Outlets Mall in Glendale, Arizona. The vending machine will sell skincare and pain relief products, effectively reaching customers with minimal cost.
CBD Life Sciences vending machine
“The machine is going to be very convenient for someone who has any kind of pain while walking for hours on end at the mall and for anyone who loves to use CBD,” said CBD Life Sciences President and CEO Lisa Nelson. “We thought this would be an ideal spot to put the machine as our product caters to a mass variety group of people around the globe.”
Cryptocurrencies have become a $2+ trillion market with over 15,000 currencies across 400+ exchanges. With the meteoric rise of Bitcoin and other cryptocurrencies, interest in digital currencies has never been higher. However, purchasing these cryptocurrencies is challenging for those that aren’t comfortable with mobile apps.
CBD Life Sciences recently installed a Bitcoin ATM Machine at its retail location in Scottsdale, Arizona, to target these individuals. The company believes that the new Finny3 machine will draw new customers into the store, keeping it one step ahead of the competition. Management also believes that other companies may be interested in similar devices.
“Cryptocurrency is the future and, by placing these kiosks in multiple locations, it will bring more foot traffic into someone’s store,” said Nelson in a recent press release. “As a team, our goal is to be one step ahead of the competition … [and] other companies may be interested in getting one of these machines in their stores.”
CBD Life Sciences Inc.’s (OTC Pink: CBDL) forward-looking management team continues to experiment with new technologies to reach customers and grow shareholder value. With the launch of self-service vending machines and ATMs, the company hopes to reach new customers and increase foot traffic to its stores—efforts it can scale if successful.
For more information, visit the company’s website.
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