Many see the Cannabis Retail industry as thriving, but there's a hidden problem behind the shiny facade: compensation for management teams.  While budtenders benefit from tips, and higher-level store managers qualify for bonuses, assistant managers (ASMs), supervisors, and keyholders are left in ...

Are You Missing Out? Is Relevance more important than Personalization in Cannabis Retail? Tap into relevance to compete with the store next door   New Cannabis retail stores open daily - once one store settles in, poof! Another dispensary opens less than a mile away on the same street. With in...

Gross Revenue, Net Revenue, Gross Margin, Average per customer, Units per customer, discount percentage and new customer rates Running a successful dispensary involves not only providing quality products but also understanding the key performance indicators (KPIs) that can help you measure your ...

Do you ever struggle to understand the mathematics behind a promotion while considering a purchase? You’re not alone. Studies reveal that people often find basic calculations difficult, and this interruption during their purchasing journey can tank an otherwise well-thought-out promotion.  Your...

Understanding the Importance of Inventory Management in Dispensaries In the world of cannabis retail, inventory is the lifeblood of your business. Effective inventory management is crucial for several reasons. Proper inventory management also helps prevent the accumulation of excessive stock. S...

Picture this: You launch what you think is a killer cannabis dispensary promotion, but crickets. No buzz, no sales. Ouch. You teased and promoted it on all your channels. You trained your in-store teams. Your vendor partners even supported you.    So what’s the culprit? Bad timing.   Achievin...

How to name them, and 8 Must-Track Discount KPIs    So, what's the deal with discounts anyway? Are they just about slashing prices to get more customers, or is there more to the story? Retail discounts help drive customer engagement, increase sales, and build brand loyalty. But they also have a...

Simple trick to boost loyalty participation: Train your budtenders to introduce it at the beginning   Ever wonder how to turn first-time customers into regulars? That's where cannabis loyalty programs come in. They're a fantastic way to build relationships with your best customers and keep them...

  Where most cannabis retailers get into trouble Amidst the hustle and bustle of day-to-day retail operations, it's easy to lose sight of long-term goals and their progression.  Managers may only detect a gradual decline in the store's performance once it becomes too challenging to turn around...

Forecasting plays a crucial role in the success of any retail business, and the cannabis industry is no exception. With the rapidly growing market and evolving consumer preferences, cannabis retail forecasting has become even more important. In this article, we will explore the significance of ca...