Take-aways from the RAD Expo
There are now more than 560 cannabis retailers in Oregon, and the number continues to rise. Itʼs essential to differentiate and cultivate a memorable consumer experience in order to stand out among the rest. Here are the most important aspects to consider when opening a new dispensary or retail store.
Hire Approachable and Attentive Budtenders
Budtenders represent the core values and personality of your retail experience. While extensive cannabis experience and knowledge is a plus, this can be learned over time. First and foremost, they should possess an inherent ability to connect with their coworkers and your consumers. Excellent social skills, an affinity for hospitality, and a genuine enthusiasm to sell are the critical attributes you should be looking for. People visiting your shop will not only be the cannabis connoisseur, but someone who may not know the difference between THC and CBD. Ultimately, consumers return to their favorite establishments because they feel a warm and welcoming familiarity with the people who serve them.
Invest in SEO
Online visibility is a vital touchpoint when directing consumers to your website, and eventually your dispensary or retail store. Web users have little patience and want immediate results when searching on Google, so you need to be certain your website is among the first few listed on the first page. This is not an easy feat, especially with so many regulations and caveats in the cannabis space. Your best bet is hiring an SEO professional that specializes in the cannabis industry and already has plenty of experience under their belt.
Offer Competitive Prices and Loyalty Benefits
Cannabis consumers are resourceful and they know how to find a good deal. Donʼt underestimate the power of an exclusive sale or discount incentives for customer referrals or in return for testimonials and reviews. While these tactics can be implemented into your marketing strategy regularly (ie. daily, weekly, monthly) or intermittently (ie. holidays, anniversaries, special events), they are reliable and simple ways to stimulate sales.
Design a Beautiful & Cohesive Space
Environmental design plays a huge role in your retail store. It has the ability to introduce your consumers to beauty, relaxation, and pleasure or reluctance, boredom, and discomfort. Curating a welcoming and thoughtful experience in your space conveys to your customers that you are a business who cares about the integrity and quality of the products they sell, which also establishes consumer confidence and loyalty to your brand. While a cannabis space needs to be eye-catching, memorable, and functional it needs to be an extension of the brand.
Itʼs All About Location, Location, Location
You’ve heard it a million times, but thereʼs no harm in emphasizing the importance of choosing a storefront that is convenient to access and easily visible to the public. Consider the demographic youʼre targeting (ie. socioeconomic status, age range, cultural background, etc). What are the densest populated neighborhoods where these customers reside in your city? Do you want more people to find you via foot traffic or car traffic? Is there free parking available or will you be downtown where there are more commuters and pedestrians using public transportation? Researching and strategizing before choosing a space will almost always guarantee ROI and a higher chance for success in the longterm.
If you would like to speak with Environmental Design professionals about building out your cannabis retail space, contact us at wearepotency.com/contact and we would be happy to discuss your companyʼs goals.