Holiday Ready: Strategies To Help You Increase Your Dispensary Sales
As the holiday season approaches, it's an opportune time for your dispensary to capitalize on increased consumer spending as shoppers look for gifts for their loved ones. The cannabis market is no exception to this trend, presenting a unique opportunity to boost your sales. By leveraging effective strategies tailored to this festive time of year, you can enhance your offerings and attract more customers. Let's explore some actionable tactics to help you maximize your holiday sales this season.
Holiday Shopping Trends
During the holidays many consumers are price sensitive due to the stress of trying to provide for their loved ones while catering to the demands of the season. Everyone’s on the lookout for holiday deals and bundles to take advantage of.
Google found that in 2024 more than 50% of consumers were happy to buy from new brands, meaning that customers will break brand loyalty given the right incentive. As a dispensary owner this gives you an opportunity to fulfil your customers' need for seeking good deals to gift during the holidays.
Market Growth
The cannabis market in North America continues to show robust growth potential. In the United States, the market was valued at $33.60 billion in 2023, with projections indicating a strong 12.10% compound annual growth rate (CAGR) through 2030. This impressive growth trajectory underscores the increasing acceptance and demand for cannabis products across the country.
Canada's cannabis market, while more mature due to earlier federal legalization, also demonstrates steady growth. Recent data shows that Canadian recreational cannabis sales reached CA$5.07 billion in 2023, marking a 12.2% increase from the previous year. The market is expected to continue expanding, with estimates suggesting it could grow at a CAGR of 10.1% from 2024 to 2030, potentially reaching $5.79 billion by 2029.
The sustained growth, despite challenges such as market saturation and competition from the illicit market, indicates a persistent consumer demand for legal cannabis products. For dispensaries, this trend presents a significant opportunity to establish themselves as trusted, go-to destinations for cannabis consumers, by offering quality products, exceptional customer service, and innovative retail experiences.
Setting Up Your Store for Success During the Holidays
Now that we understand consumer trends and market growth potential, let’s take a look at strategies you can implement in your stores to drive sales.
Creating Holiday Bundles
Since we know customers are seeking deals and will break brand loyalty if the incentive is right, bundling products is a surefire way of moving inventory off your shelves. Display deals on your Promo TVs with themed holiday slides. Here’s how:
Bundle Basics: Select items that naturally go together for the most effective bundle choice. For example, you can put cannabis drinks and gummies from the same brand into a bundle. You can also put a daytime flower with a nighttime flower with matching potency or reported effects. This approach provides a complete solution to your customers and thus increases your customer satisfaction rates.
Audience First: Tailor your bundles to your specific dispensary customers to create a feeling of ease that we discussed in our Launch With Impact blog. For example, if you are near a high traffic area such as a client of Budvue near the Calgary Stampede who carries a higher percentage of pre-rolls, you’ll want to ensure your inventory and deals reflect your customer’s needs.
Pricing Strategy: Attractively priced products are on your customer’s buying list, ensure yours reflect a good deal. For example, listing the original price of individual items within a bundle helps create a natural comparison in the customer’s mind when looking at your offer, highlighting the offer further.
Gift Ready: Get into the holiday spirit and make your bundles visually appealing for the season. For example, a buy two for the price of one bundle with a colourful background vs a Christmas background, will pull less attention for being untimely. Being timely with your visuals shows an added layer of attention to detail which enhances customer experience and meets expectations.
Special Gift Packaging
Once you have killer bundles planned out in your POS, ensure your digital screens integrate seamlessly, and plan out your special packaging.
Festive Designs: Use holiday-themed wrapping or ribbons of colour in your packaging, especially for special items. A simple switch from white bags to red ones can increase the festive mood.
Easy Gifting Options: Budgeting is always important as a business owner, this is why you don’t have to give special holiday wrapping for every purchase, instead save it for customers who buy bundles or specified gifts. Create a custom gift bag or bow that goes on your regular packaging and display these on your digital screens to help increase basket size. Your customers may see a great looking gift-ready choice on your screen and decide it is the perfect present for their sister or bestie.
Personalization: Another simple choice is to add cards that allow your customers to write personal messages in gift options.
Questions
How can I integrate Budvue's services into my existing dispensary operations?
Integrating Budvue's services into your dispensary is seamless. Our digital signage solutions can easily connect with your existing POS system, allowing for real-time updates on inventory and promotions. Additionally, our user-friendly dashboard enables you to manage content effortlessly, ensuring your marketing efforts are synchronized across all platforms without disrupting your current operations.
Can Budevue Promo TVs display my personally created content?
Yes, our Ads program allows plenty of screentime space for you to display whatever personal content you wish. Our dashboard library also allows you to add and store your personally created design.
Can Budvue help me create themed holiday bundles?
Absolutely! Budvue specializes in helping dispensaries create themed holiday bundles that resonate with customers. Our teamreleases themened bundles every season for you to use as they suite you.
Conclusion
Enhancing your dispensary's customer experience and driving sales during the holiday season is achievable with the right strategies and tools. Budvue's innovative digital signage solutions can transform your store, making it more engaging and informative for your customers. Our customizable Menu TVs and Promo TVs not only showcase your products effectively but also help educate shoppers, ensuring they feel confident in their choices.
Ready to elevate your dispensary to new heights? Book a demo with us today and discover how our integrated technology can help you stand out in the competitive cannabis market. Let us show you how to create a unique shopping experience that keeps customers coming back for more.