7 Ways to Save Money on CBD
As you shop for CBD oil and other CBD products online, you will notice a wide range of prices. Some prices for high-quality CBD are fairly high due to hemp quality and processing costs, and that leads some consumers to reduce their CBD intake or forego a purchase. Fortunately, there are many ways to save money, so you can continue to enjoy the benefits of CBD. From free shipping to coupons, the ways to save money on CBD drive the out-of-pocket expenses down.
How Much Does CBD Cost?
1. Cost Factors
The cost of CBD on a product basis is dependent on numerous factors.
- Hemp source
- Type of CBD product
- CBD potency (CBD milligrams per serving)
- Formulation (cannabinoids and other ingredients in the product)
- CBD extraction technology
- Spectrum of the CBD oil
- Quality of the CBD oil
- Whether products are organic
The price of CBD varies considerably across brands, and quality is the major determinant. Each CBD manufacturer establishes a production process that begins with industrial hemp sourcing and follows through to lab testing and final packaging. How each step is managed determines the costs of production, labor and packaging, followed by marketing and shipping.
The Tennessee Department of Agricultural and Resource Economics prepared a sample agricultural production budget for industrial hemp extract. The spreadsheet gives an idea of the many expenses associated with just the plant growing and harvesting steps. All of the costs for plant transplants, fertilizers, machinery operation, irrigation, labor, license and fees, cannabinoid testing and more go into the cost of the final product.
Growing and harvesting hemp is only the beginning of a multi-step manufacturing process. Understanding the production process for CBD oil products makes it easier to understand the cost.
2. Average Costs
CBD oil tinctures can range in price from 5-cents to 20-cents per milligram of CBD. CBD capsules and pills cost 9-cents to 13-cents per milligram of CBD. CBD topicals range from 7-cents to 10-cents per milligram. CBD gummies range from 9-cents to 20-cents per milligram of CBD.
Overall, in most cases, you are looking at 5-cents per milligram of CBD to 20-cents per milligram of CBD. The independent company testing CBD products and tracking the industry found the average cost of CBD per milligram in 2020 was about 10-cents. Full spectrum CBD cost was the most expensive at an average cost of 10.4-cents per milligram, and CBD isolate was the least expensive at 7.5-cents for milligram.
These are only average costs, and they will change due to market changes like inflation utilization of new technologies and new government regulations. The higher the quality of the CBD product, the higher the cost.
Tips to Save Your Money
There are plenty of ways to learn how to save money when buying CBD oil.
1. Look for discounted products
Take advantage of discounted products when you buy CBD oil. Brands will often discount CBD oil periodically to attract new customers or to increase sales volume. Some brands will offer a CBD oil discount code you can apply to some or all of their products.
2. Use CBD oil coupons
CBD oil coupons may be on the seller’s website or websites wherever the product is sold, like on the CBD.market website. You can also do an internet search to find CBD coupon codes.
3. Free shipping
You may get CBD free shipping when orders are over a certain amount. For example, CBD.market offers free shipping in the U.S. for orders over $60.
4. Join a subscription plan
A subscription plan in which you receive CBD products on a schedule often includes a discount percentage. The CBD.market offers 5-percent of the total order amount on a subscription plan.
5. Buy potency rather than the product size
The size of the CBD bottle does not indicate CBD potency or the CBD amount per milligram per serving in the CBD oil or CBD tincture. A larger bottle may seem like a bargain, but it may have less CBD per milligram than a smaller bottle. You are paying for the larger product and getting less CBD. Shop for CBD products based on the CBD potency you need, and then decide on the product quantity.
6. Take advantage of sales
CBD sellers will hold sales periodically. It is a great time to buy CBD oil products. The sales may apply to particular products or all products. The sale terms will vary. If available, subscribe to a seller’s newsletter or text notifications to stay informed of upcoming sales.
7. Join a CBD rewards program
A rewards program enables you to earn points each time you purchase CBD products. When you reach so many points, you can apply a discount on your order. CBD.marketplace has two ways to earn points. One is to make a purchase and another is to leave a review.
CBD is Affordable for Everyone
It is important to always buy quality CBD products. They may seem more expensive than lower quality products, but as the saying goes, “You get what you pay for.” Low-quality CBD products are less effective, meaning you are buying a product that will not deliver the benefits you expected. Companies selling products that are called high quality at an unreasonably low price are likely not being transparent about the product’s contents.
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