RETAILER READINESS

Hey Retailers!

Ready to crush it at the Revelry Buyers’ Club? We teamed up with top New York retail execs to bring you essential insights for getting your dispensary off the ground. These videos dive into key topics you need to know to bring your A-game. Watch now and tell us what you think. Got ideas for the next topic? We’re all ears—let us know how we can support you!

Product Selection ✤ In-Store Activations ✤ New Brand Onboarding

Questions to Ask During Brand / Product Selection

With Miri Grego Director of Cannabis at Gotham

Here are a couple of our takeaways from Miri.

  • Buying Strategy: Mary emphasized the importance of having a clear buying strategy, including identifying which brands and products align with the store's mission and values.

  • Product Selection: She discussed the need for thorough research on sales and product trends, and the importance of sampling products to ensure quality before making purchasing decisions.

  • Budget Considerations: Budget plays a critical role in determining how much inventory to start with, and Mary advised starting small and testing the waters to manage cash flow effectively.

  • Brand Vetting: Vetting brands, farms, and manufacturers is essential. Mary highlighted the importance of understanding their stories, inspirations, and ensuring their products meet quality standards.

  • Compliance with State Regulations: Ensuring compliance with state regulations is crucial. Mary stressed the importance of checking certificates of analysis for lab results, proper labeling, and meeting all legal requirements to avoid any issues.

Activating a Brand in-store and with Customers

With Dave Vautrin (Formerly) at Union Square Travel Agency

Here are a couple of our takeaways from Miri.

  • Identify and Understand Your Target Consumer: Brands should determine who their target consumers are (e.g., cannabis enthusiasts, value seekers, medical patients) and tailor their unique selling propositions to resonate with these specific groups.

  • Effective Product Descriptions and Packaging: Ensure that product packaging aligns with the brand and target consumer. Use engaging and sensory language in product descriptions to highlight features and notable characteristics, and provide full ingredient lists and allergen information for edibles.

  • Quality Photography: Invest in high-quality photography that showcases both the packaging and the product itself. Follow specific guidelines for photo specs, including context, background, size, and lighting, to represent the brand effectively online and in lifestyle shots.

  • Comprehensive Training and Education for Bud Tenders: Conduct interactive and engaging training sessions to educate Bud Tenders about brand fundamentals and product catalogs. Use printed collateral, ask questions, and offer quizzes and prizes to ensure retention and understanding.

  • Strategic Marketing and Activation: Implement various marketing tactics, such as social media engagement, influencer partnerships, geofencing, and industry event participation. Focus on building brand awareness, establishing trust, and fostering loyalty among consumers through consistent and strategic marketing efforts.

Steps to Onboarding a Brand into Your Store

With Jesse Roberson at Housing Works Cannabis

Here are a couple of our takeaways from Miri.

  • Required Documents for Onboarding Vendors:

    • Ensure proof of license, proof of banking for payments, and an adult use transport manifest are provided. Verify license numbers, business names, and addresses with the OCM website to ensure accuracy. Properly filled and signed transport manifests are crucial for tracking and receiving products.

    Use of Live Product Lists:

    • Request vendors to maintain a living shared Google sheet with product names, types, descriptions, THC amounts, photos, available quantities, and wholesale pricing. This tool helps keep inventory up-to-date and simplifies the process of updating product information, especially for changes in THC amounts or product descriptions.

    Preferred Receiving Schedule and Counting Procedures:

    • Schedule deliveries on less busy days (Monday to Wednesday, 9:30 to 11:00 AM) to ensure thorough and accurate receiving. Have two managers or staff members count products to double-check and ensure accuracy. Use barcodes and implement barcode scanning to streamline the receiving process and reduce errors.

    Product Addition to POS System:

    • Add product descriptions, photos, and other details into the POS system before adding quantities to ensure everything is accurate. Use systems like Blaze for efficient PO management and immediate updates to inventory and the website once quantities are added.

    Strategic Advice for Opening and Operating a Retail Store:

    • Focus on getting the store open quickly rather than on an extravagant build-out; you can improve the store over time. Use funds wisely and be prepared to adapt and learn as the industry grows. Treat the store as a retail operation, being open-minded to all types of customers and not targeting a specific demographic, as cannabis appeals to a broad audience.

Click here to schedule a call with Geraldine!

Geraldine (Gigi) Mae Cueva
Revelry Head of Partnerships

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