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”
The Daily Huddle (Shift Starters) – The most important 10 minutes in any company https://youtu.be/sGQu-Sc6b9I
This is our 3rd article on merchandising. We have created this series to provide dispensaries with insights to help to set your dispensary apart from the competition. Retail is detail, and selling is the key.Read more “The Secret of energizing your team daily.”
If you’re one of the medical or recreational dispensaries that set goals, you are 1000% ahead of your competition.
Challenge yourself to set your goals. What’s on the back walls? If you can see it, you can believe it. Have the vision. Build your people on the view. Why are you in this business?Read more “How to be 1000% ahead of your dispensary competition.”
The battle to drive margin, getting an extra point or two and a half is incredible, and it is enormous.
How to go to a 40% gross margin to a 42.2% gross margin on a product?Read more “The Battle to Drive Margin for Cannabis Dispensaries”
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.Read more “Secrets your dispensary competition does not want you to know- Part 1”