The final concern to address - was the market high growth with not much competition or was it slow growth with a lot of competition or somewhere in between? This was easy and compelling to determine. One look at Google trends showed the clear demand for these products seen in graph below. Another credible source, Forbes, predicts growth of the cannabis industry to be over 700% by 2020 - in fact, no other industry is growing faster. I also looked at the competition and compared the quality of products, their pricing, marketing, etc. and found that HempWorx was a clear leader. But what about competition - was it saturated or was their room to get in and make it work? Using a variety of metric tools, I figured out that it was definitely still quite early to be venturing into this market and the opportunity for growth without a lot of competition will be available for quite some time.
4. Is Hempworx CBD oil the “world’s purest CBD oil” or the “best CBD oil on the market?” No. This is a claim that we often hear made by brand ambassadors selling Hempworx. Some of them also criticize the ingredients of other brands and claim they are inferior to Hempworx. In reality, there is no evidence we’ve seen that supports these claims. Hempworx is not fundamentally different in any way from most of the other products on the market. Claims to the contrary are just hype to manipulate uneducated consumers to buy Hempworx so they make their commission.
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