Forward-thinking dispensaries are using self-ordering kiosks
Forward-thinking dispensaries are using self-ordering kiosks to acquire and maintain customers.
A kiosk may be the best tool to keep your customers coming back.
Kiosks are the perfect next step for dispensaries because, by allowing you to take more orders faster, they decrease lines and increase revenue.
Kiosks are also great up-sellers, successfully encouraging customers to increase their order sizes.Read more “How Self-Ordering Kiosks Foster Dispensary Loyalty”
Taking risks may be the next step your dispensary needs to find success.
WHAT HAPPENS TO BUSINESSES THAT DON’T INVEST IN TECHNOLOGY?
Many companies don’t like to take risks because they fear the repercussions. Staying inside your comfort zone, however, will never help your company reach its long-term goals.
One such risk: investing in technology to improve operations
One such risk: investing in technology to improve operations. CEOs are hesitant to invest in technology because of the potential to lose money from expensive automated services and products.
The cannabis industry is becoming more technologically advanced every day, and companies need tech to get a head start and stand out from their competitors.Read more “What Everybody Ought To Know About Dispensary Technology”
Transact with cash, debit card, or direct bank transfers.
Marijuana retail is booming, but the industry remains largely cash-based. Federal law still classifies pot as an illegal drug, so some banks and payment services run the risk of being penalized if they participate in marijuana retail.
Many banks do not allow cannabis companies to have bank accounts, and for dispensaries, taking debit cards and mobile payments can be complicated or impossible. This is a huge hurdle even in states where cannabis is legal.
The Importance of Merchandising in Cannabis Retail
Preview: Merchandising involves various tactics to appeal to customers. Here are some ways in which merchandising should be carefully considered when it comes to your dispensary.
Marijuana Retail Report aptly defines merchandising as “the term that refers to a wide scope of business and marketing strategies involving the use of ambient tactics – usually attractive displays – to present products to consumers in appealing ways in order to improve sales.” In other words, merchandising is “properly curating the customer experience.”
The big potential for captivating customers is through visual merchandising.Read more “The Secret of Merchandising in Cannabis Retail”
Preview: Impact on the success of a vendor’s product is Shelf Space
You might think a retail chain’s business model is pretty straightforward. Most dispensaries don’t sell their own products – they don’t cultivate or manufacture products that produce the items that go on their shelves. No, they rely on a supply chain with numerous third parties involved. They negotiate bulk purchases of products and act as the point of contact between that supply chain and the consumer.
Essentially, most retail stores function as a middleman.
Earn the maximum profit point for each productRead more “How shelf space at dispensaries impact the success of products”
The Slotting Fee Showdown over Cannabis in California
Preview: Here’s what cannabis retailers and manufacturers should know about the slotting fee showdown taking place in California right now.
California cannabis retailers are catching the heat for charging marijuana manufacturers monthly fees to reserve prime shelving real estate in their stores.
The cannabis industry is highly regulated across the country, and legal retailers are increasingly concerned about underground dealers who continue to undercut their profits.
Slotting fees are one way that retailers are coping. However, industry leaders are worried the additional shelving fees will crowd out smaller companies from the market.Read more “How to Handle The Slotting Fee Showdown for Cannabis in California”
Preview: Labor costs are challenging for the cannabis retail industry.
The retail industry’s success has taken a turn for the worse.
The retail industry is huge — according to a report produced by eMarketer.com, in 2014, retail sales were more than $22 trillion, and almost every year, roughly 67 percent of the United States gross domestic product (GDP) is derived from retail consumption.
However, in recent years, the retail industry’s success has taken a turn for the worse.
Many consumers now prefer to shop online, rather than in traditional brick and mortar stores.
Cannabis Has Brought Back Brick & Mortar RetailRead more “A Little Known Way to Reduce a Dispensary’s Labor Costs”
The current pandemic has significantly affected the way we live and interact with each other. Government-sanctioned social distancing recommendations have become crucial for public safety.
Most public spaces have attempted to reduce the spread of the virus by mandating social distancing policies and initiating contactless service.
As a result, the cannabis industry has taken steps to ensure the safety of customers and employees.
Companies are offering automation solutions in the form of self-ordering kiosks to successfully implement social distancing amid the pandemic.
What is a Self-Ordering Kiosk?Read more “Here Are Quick Ways Dispensaries Are Staying Safe During Covid-19”
Preview: Labor costs are one of the greatest expenses for new dispensaries. Find out how much they cost and what you can do about it.
One of the most important considerations entrepreneurs will need to confront: labor costs.
As the regulatory landscape in America becomes friendlier to cannabis, many entrepreneurs are seeing opportunities. The industry is expected to boom, with a market valuation of nearly $18 billion in 2019 and projections of enormous growth over the next decade. With numbers this promising, those looking to open a dispensary are setting their hopes high.
Let’s talk about one of the most important considerations entrepreneurs will need to confront as they put their plans together: labor costs.Read more “A Little Known Way to Reduce a Dispensary’s Labor Costs”