Blackleaf’s Post

Loyalty in cannabis retail starts with trust. If your customers don't trust you, you have nothing. The average cannabis consumer shops at 3 dispensaries, so gaining a share of the wallet is important. By focusing on trust, you shift casual customers into loyal ones. But building customer trust doesn't happen in one visit. Trust has to be earned through every interaction; if something breaks a customer's trust, it's tough to rebuild it. 3 ways to build trust: 1. Actively engage with customers 2. Provide valuable insights 3. Tune into their needs Trust ensures repeat visits and positive reviews, contributing to your dispensary's loyalty goals and profitability. Want to dive deeper into building trust in cannabis retail? Check out our latest Vetrina blog, where we explore all the essential aspects of fostering customer trust in your dispensary. #CannabisRetail #Trust

Loyalty in cannabis retail starts with trust. If your customers don't trust you, you have nothing. The average cannabis consumer shops at 3 dispensaries, so gaining a share of the wallet is important——it's shifting casual customers into loyal ones. But building customer trust doesn't happen in one visit. Trust has to be earned through every interaction; if something breaks a customer's trust, it's tough to rebuild it. 3 ways to build trust: 1. Actively engage with customers 2. Provide valuable insights 3. Tune into their needs Trust ensures repeat visits and positive reviews, contributing to your dispensary's loyalty goals and profitability. Check out the latest Vetrina blog for deeper insights into building loyalty programs. #Vetrina #CannabisRetail #Loyalty

What is the most underemployed retail KPI in cannabis? This one is tough, but we'll go with: 𝗖𝗼𝗻𝘃𝗲𝗿𝘀𝗶𝗼𝗻 𝗿𝗮𝘁𝗲. Conversion rate measures how many potential customers actually make a purchase and it's a key retail KPI that cannabis stores haven't historically monitored. Why? Because the relatively new legalization of cannabis led retailers to assume that every customer would leave with a purchase. Conversion rates don’t just reflect the efficiency of a sales team in connecting customers with the right products; they also reveal the shadowy realm of missed opportunities arising from assortment and sales strategies. 👇 What's your opinion?

I can confidently say one thing after 2 years of retail cannabis: One of the biggest challenges in retail is communicating information clearly to customers. I'll provide Pressure Pack's links in the comments. You click "View our Products", and you get sent to WeedMaps. Here's my issue: Customers don't know how to navigate these sites and can't trust them. You don't have to travel 7 miles to the store it has listed. Go to the store 2 miles away that has it. This brand trusts Weedmaps to guide their customers to find their products. My personal opinion: Weedmaps is failing Pressure Pack. Lots of customers express anger to me when they talk about their experiences shopping online for cannabis. I understand why customers feel that way. We are making it harder for cannabis customers to find information, not easier. We need to fix that.

Cannabis retailers: It’s time to END THE PRICE WAR. Seriously.   We have spilled too much blood and lost too many great businesses by being locked in a race to the bottom.    Now I know you’ll tell me that we’re competing with the illicit market.   But guess what? Our products will *always* cost more. So why compete on those grounds alone? We need to compete with the illicit market and one another on VALUE.   A key focus of the Embarc team is redefining what value means.    Many of us misunderstand what value means. It’s not low price, although that can be a feature of value.   Value extends far beyond price. It’s about facilitating consistently exceptional experiences.    For us, this is reflected in:  — customer interactions — our store design — loyalty program — menu curation   And a lot more.    Value is the sum of these parts, delivered at a fair price.   It’s not BOGOing your bottom line to death to put the store down the street out of business. Because you'll kill yourself in the process. And then no one wins.   The licensed market must focus where we can compete: — Personalization — Experience — Design — Trust   End the price war.   Thank you for coming to my Ted Talk.

Cannabis retailers: messy discount names = lost $$$ We recently worked with a client to optimize their approach to discounts. In retail, clarity is king. This includes how you see the dollars allocated to different initiatives. The first step? standardizing the discount naming conventions. How we did it: 1. Streamlined Operations: - Unified discount names across all platforms - Implemented a clear hierarchy for promotional types 2. Enhanced Customer Experience: - Simplified communication of offers - Reduced confusion at point of sale 3. Improved Data Analysis: - Easier tracking of discount performance - Quicker identification of profitable promotions The results? ➜ 5% increase in profitability in 45 days ➜ Less resources spent amplifying promotions ➜ Clear path of what can be done next to continue to optimize Key Takeaway: cannabis retail is not just about the percentage of your discount—it's about the dollars. Clear naming conventions impact how you identify what is contributing or eroding the bottom line. DM me or subscribe to our newsletter for more insights on boosting your cannabis retail profitability. #CannabisRetail #DiscountStrategy #RetailProfitability

When is free not free in cannabis retail? I was digging into a client's Google ratings and found a couple negative reviews Not on service but on the quality of penny products. Got me thinking, Customer spending demands quality, even for a penny product. If you are in Costco and eat a free shitty granola bar, you don’t care. You move on in your journey and get another free sample. But if there is an exchange of money (no matter how cheap), then it is not free for the customer. If there is an exchange of money, your customer has invested in the product. Now it’s no longer “free.” Every element of the transaction has value, and the customer expects it to be of some quality. A great example: You’re in Sephora and you got a free lipstick. You’re excited and winning - quality doesn’t cross your mind. But if the tables turn and you are prompted to spend $25 to get that same free lipstick, you might think twice about whether that product is worth the money you have to spend to get it. Free is not free. - We talk about topics like this in our bi-weekly Cannabis Retail Insider Newsletter. Sign up today and have tips and tricks delivered to your inbox.

In today's fast-paced world, convenience reigns supreme. This holds true for cannabis consumers too! 😤 While competition is fierce, one key differentiator often gets overlooked: reducing customer effort. Shouldn't getting your cannabis be as easy as ordering a pizza? Delivery closes the gap between customer expectations and effortless access. We are helping consumers reduce the need for in-store visits, simplifying product exploration, and delivering the experience right to their doorstep. And helping retailers prioritize delivery and reducing customer effort. Because convenience is the path to building stronger relationships with current and new customers. 🔑 Ready to unlock your potential? Chat with us about creating a frictionless customer journey that drives loyalty and growth! #cannabisdelivery #cannabisretail #customersatisfaction #cannabishospitality #cannabiscommunity

The paradox of choice is the culprit for confusion in cannabis retail. Picture this: you step into a cannabis store, eager to explore new products. Yet, as you browse an overwhelming display of choices, the excitement turns into confusion. More options don't always mean better. Too many choices lead to decision paralysis. But decision paralysis doesn’t just impact customers; it hits the inventory buyers too. There are over 3000+ SKUs in the Ontario market alone, which can be challenging to decode what to buy and what not to buy. Opt for impact over excess: - Data-driven decisions - Focus on product velocity - Utilize customer insights and trends Ensure your inventory speaks volumes without overwhelming your customers. Quality choices, not quantity, pave the way to satisfied customers and increased sales. #Vetrina #CannabisRetail #InventoryManagement

As 420 approaches, the cannabis industry is buzzing with anticipation for what is traditionally the biggest sales day of the year nationally. According to recent data from Treez Inc., a leading provider of cannabis retail and analytics solutions, this year’s 420 is expected to outdo previous records, particularly because the holiday falls over a weekend for the first time since 2019. On April 20, 2023, dispensaries saw an unprecedented influx of customers, with shopper numbers more than doubling —123% higher than any other day of the year. With the weekend timing in 2024, Treez forecasts an even more significant surge, predicting sales to be almost 2.5 times larger than on any typical day.