Photo courtesy of Kiaro
Although the cannabis retail landscape continues to evolve, one aspect remains true—the need to exceed customer expectations. The opportunity to add significant value beyond the transaction is particularly relevant when selling cannabis accessories, but requires retailers to strategically curate their product portfolio, and guide consumers through the cannabis retail experience.
The Power of Personalization
In many instances, the sale of a cannabis accessory is a special one-off purchase particularly suited to an individual. Consequently, retail consultants need to be able to personalize the customer experience, and convert these opportunities when they arise.
For consultants to effectively personalize the service provided to customers, retailers need to create an environment that encourages curiosity, exploration, and education. This allows employees to initiate meaningful discussions with consumers, and better understand their requirements. By taking this information into account, staff can identify and recommend accessories that meet the customer’s unique needs, and enrich their cannabis experience.
Companies should collaborate with suppliers that not only align closely with the store’s target audience, but also with the team’s core values.
This personalization not only enables retailers to sell cannabis accessories more effectively, it also enhances the retail experience and increases customer loyalty. By providing the knowledge and resources for customers to make their own informed decisions, consumers are empowered to share this knowledge with others and become product advocates themselves. This word-of-mouth marketing is crucial to create brand awareness. However, to further appeal to defined target audiences, retailers must also carry the right products.
A Strategically Curated Product Portfolio
As accessories can play an integral role in normalizing cannabis use and reaching new markets, retailers should develop a product portfolio that both appeals to existing demographics and also attracts new customers. Items such as decarboxylators, for example, simplify cooking with cannabis and increase the plant’s appeal to those deterred by the health implications of smoking or vaping.
As new accessories are constantly being developed, it’s vital that retailers regularly update their product portfolio to ensure they stay relevant and meet the needs of consumers. This will be particularly important when new product categories enter the market later this year. When extracts become available, for instance, retailers should supplement their accessory portfolio with dab rigs. This will enable customers to enjoy these new product offerings, and ensure retailers don’t leave money on the table.
By analyzing the sales of individual accessories and related products, retailers can identify which items are in demand and which have fallen out of favour and streamline their inventories accordingly.
The Importance of Brand Partnerships
To increase their ability to sell accessories and target defined market segments, retailers should establish and leverage close partnerships with reputable brands. Companies should collaborate with suppliers that not only align closely with the store’s target audience, but also with the team’s core values. This ensures accessories complement the retailer’s image as well as the other products stocked.
Retailers need to create an environment that encourages curiosity, exploration, and education.
Partnering with brands also enables retailers to optimize pricing and improve supply chain resiliency. Establishing strong relationships with suppliers can also facilitate the sharing of market data and training resources, so both parties are better positioned to take advantage of emerging opportunities. These insights can be invaluable as retailers need to be able to provide customers with the latest products, and train employees to understand their unique selling points of accessories.
Adding Value Beyond the Transaction
In order to maximize sales of cannabis accessories, retailers need to focus on adding value beyond the transaction.
By delivering a customer experience that not only meets, but surpasses expectations, retailers can boost accessory sales and customer loyalty.
Kiaro is a Vancouver-based cannabis brand that carries a variety of curated products. Through its stores and e-commerce platform, Kiaro offers a customized omni-channel cannabis experience that is inviting, convenient, and appealing, allowing consumers to choose safe and reputable products.