November is the beginning of the winter holiday shopping season. Your dispensary can benefit from several unofficial retail holidays to draw more consumers, increase revenue, and attract more new clients.
The rewards for your efforts are enticing despite the severe competition for consumers' attention. According to industry reports, retail sales only went up year over year in the days before and after Thanksgiving. However, after just 4/20, Green Wednesday and Black Friday have seen rises in daily dispensary sales of more than 20%, making them the second and third top-earning days in the cannabis sector.
Therefore, your dispensary must pay attention to its November promos. Green Wednesday is an additional benefit for cannabis businesses to generate more holiday revenue. You may easily modify your Green Wednesday deals to run through Black Friday, Small Business Saturday, and Cyber Monday with a little extra preparation. Here are six strategies for spreading the word to customers and attracting additional clients to your store.
Early offer design and customer warning
Your chances of reaching your target audience will increase the earlier you develop your dispensary holiday promos because retailers across all industries fight for the attention of holiday buyers. At least two weeks before the first promotion, you must begin marketing your Green Wednesday, Black Friday, Small Business Saturday, and Cyber Monday 2022 deals. The shopping season begins with your first advertisement, so if you schedule some of your "Black Friday" sales for the weeks leading up to or following the big day, you could attract some shrewd early buyers.
Make sure you market your sales well.
For cannabis industry professionals, obtaining traditional advertising in publications like newspapers, TV, radio, or billboards can be challenging. However, this could be a personal benefit, given how costly typical holiday advertising can be. Instead, your dispensary should concentrate on sending emails, SMS messages, and social media posts to its subscribed consumer base. Additionally, strategic paid social ads may be more effective and less constrained.
At least two weeks before Black Friday 2022, send your first email or text and start advertising your dispensary's deals on Facebook, Twitter, TikTok, and Instagram. With your promotional posts, you should be consistent and assertive but not intrusive. Your posts will be seen but will only be obtrusive if you make two to three daily posts.
Work with suppliers to move excess inventory.
Because cannabis goods have expiration dates, holiday sales are a fantastic method to move overstock or products about to go wrong while also giving customers a discount. Make sure to set out a day to conduct a short inventory audit before choosing which products to promote and mark down for Black Friday 2022. This will allow you to determine which products might move for the season with the appropriate type of promotion.
Wholesale cannabis can be expensive, and for dispensaries to be viable, they frequently have to transfer expenses onto the customer. But over the holidays, that can be to your advantage. In addition, because your suppliers are likewise eager to shift overstock or products that are due to expire, now is a perfect moment to get in touch with them.
This is a simple approach to provide products at a discount while maintaining their high quality and sharing the chain's Black Friday savings. In addition, you can give these sellers discounts on the store's inventory in exchange. As a result, customers gain substantial savings on high-quality goods, your dispensary pays suppliers less, and vendors benefit from free in-store advertising and increased sales. What a win-win-win situation!
Give discounts to first-time buyers. Holiday discounts are a fantastic method to attract cannabis skeptics and allow customers to give cannabis to friends and loved ones. Your Black Friday sales postings and advertisements are more likely to be seen by those who have never visited a dispensary but may want to and have been waiting for the appropriate occasion since social media advertising increases the reach of your cannabis business. Why not provide a special discount at the entrance?
According to research, about half of the 30% increase in-store traffic experienced by dispensaries participating in Black Friday specials came from new or first-time customers. Therefore, you can build a long-lasting relationship with clients by providing a special discount only for new or first-time customers (who can receive it by opting into your dispensary's email/text marketing). In addition, your initial purchase will give you an idea of your buying preferences, which you can leverage in subsequent campaigns.
Present exclusive goods. Buy and pick up online.
Everyone loves unique discounts, so remember to thank your regular customers with promotions that make shopping with you more convenient or convenient for them. Since the epidemic, contemporary consumers have gotten accustomed to curbside pickup and online shopping. In fact, due to the convenience it provides, many customers even prefer to purchase in this manner. So why not encourage them even more with a special discount for curbside pickup and online ordering?
Online-only offers won't ever replace Doorbuster specials, but keep in mind that not all customers are interested. Dispensaries may have long wait times, and most cannabis stores have occupancy restrictions. Nevertheless, you can make things simple for your budtenders while offering customers the opportunity to avoid the line and still get a great deal with online payments and curbside collection.
Using Sprout Processing provide customers with the checkout experience they desire.
The last thing you want to do is aggravate customers after spending time meticulously planning your dispensary's Black Friday 2022 deals, as their frustrations will be at an all-time high amid the hustle and bustle of shopping. Parties. Customers find it difficult to pay with cash, which puts your company at risk and restricts how much they can spend.
Online customers want to quickly pick up their items without visiting an ATM. Customers in-store desire a simple way to pay without paying more ATM fees to withdraw more money. Additionally, you want buyers to be able to add pricey things, expensive accessories, and gift cards.
By adopting cashless, you're giving your clients a frictionless checkout experience that will entice them to return to your dispensary in 2023 as another holiday present. So contact a Sprout Processing immediately to get started and set yourself up for the finest Black Friday ever. Sprout Processing has fully compliant credit card and debit card processing solutions built specifically for the cannabis industry.