Grow dispensary sales 5% to 10 % over your average growth percentage last year.
So if you expect 20% over last year, tack on another 5 to 10% by following this sales checklist.
This year, 4/20, the cannabis industry’s most important day of the year, comes with unprecedented challenges. However, there will be many 4/20’s for years to come. This year is 4-20-2020, which we will never see again. Add to this that we are in the one of the worst epidemics (the COVID -19), the country has ever seen.
Buckle down and remember, “Merchandising is the activity of promoting the sale of goods.”
Here are 3 questions that you and your team should be asking yourselves:
- How much more can I sell in my dispensary this year than we did last year on 4/20?
- How can I get more people coming back to the store?
- How much more can we sell repeat customers as a percentage?
With states recognizing that dispensaries are considered an essential business is more proof that cannabis is vital to the quality of life. Help your customers learn and try different products to find the ones that suit their needs and add to their quality of life.
Most dispensary websites are running week and month-long promotions. They are all competing to get as many people to their dispensaries by promoting discounted products.
The following is an easy checklist that can be implemented, executed, and that will deliver results:
- Product of the day (i.e., Vapes, Pens, Batteries) no discount, but value.
- Cross-sells for the day (pre-Rolls, merchandise)
- Offer bundles
- Bring the attention of your customer to your sales specials rack (like Accessories & Apparel)
- At the point of sale, the register or pickup, suggest a low-cost, high margin product like an edible or a multipack of rolling papers.
Now you are not going to sell a customer all five suggestions, but you will sell an extra 1, 2, or 3 items more than you usually would not have sold. Can this help your bottom line? The customer experience improves because they will see you as a trusted advisor looking out for the best interest.
- Move items that are not moving (sitting inventory does not help cash flow)
- Promote your best sellers
- Increase prices on items that will not affect the average quantity of sales of these items. Increase by .50 cents to $2.00 (If you have over 100 products, I am sure you can find several.)
Increase prices on items that will not affect the average quantity of sales of these items. Increase by .50 cents to $2.00 (If you have over 100 products, I am sure you can find several.)
Plan how you train, execute, and measure the results during the day using the above checklist.