#BofCLive Retail Series on How to Utilize In-Store Display to Drive Cannabis Sales spoke with our founder Krista Raymer about the how and why of visual merchandizing for retailers.
The beverage segment allows brands to look beyond “traditional demographics” of cannabis users and appeal to broad swaths of consumers that are wellness-, THC-, or rapid-onset minded, Vetrina Group has observed.
The beverage segment’s share of overall revenue in the cannabis market remains small, but Vetrina Group Co-Founder Krista Raymer says revenue share isn’t the right metric to look at to accurately gauge the growth of the segment.
“Today, beverages represent a small percentage of revenue across Canada and the US. However, this does not paint the whole picture,” Raymer said. “Due to the product having a lower price point than most products in the market, it is instead valuable to consider SKU velocity. By making this consideration, we can see Beverages impact more consumers than the revenue narrative would lead us to believe.”
#BofCLive features a conversation with Krista Raymer of Vetrina Group diving deep into the how and why of visual merchandizing for retailers.
An important conversation given the increased density and competition among cannabis retailers.
Have a listen to our founder Krista Raymer speak to thoughtful pricing strategies for cannabis retailers. Using examples from other segments of retail, Raymer explained the importance of learning from customer trends and building in best practices for retailers around pricing.
Specifically, how a thoughtful pricing approach can be make-it-break-it for cannabis retailers.