The legalization of cannabis in the US ushered a new beginning for the industry. Retail sellers had immense opportunities to make it big as demand soared. The pandemic pushed the profits even further for retailers. But rapid growth does not come alone, rather it brings massive competition in the industry. If you already operate in cannabis retail, you have to get better to stay ahead of the competitors. For newbies, it becomes crucial to get a head start with better products and services. Picking digital tech for your cannabis store can take you way ahead with customer experience. Here are some ways you can do it in 2022.
Embrace inventory management software
A typical dispensary has products worth tens of thousands of dollars in inventory. It entails risks from criminals and employees unless you keep track of every product. You cannot rely on physical checks to secure your inventory. It makes sense to embrace inventory management software to stay informed and detect discrepancies in real-time. It also enables you to stay ahead of shortages and prevent overstocking.
Revamp your website
You may have made a quick switch to e-commerce selling during lockdowns. But now is the time to move to the next level because this selling mode is here to stay. Consider revamping your website with a new design and features. Align the backend operations to ensure that your customers get the best online shopping experiences. Building a robust e-commerce presence with a viable digital marketing plan is essential. A little effort can help your retail business win on both online and offline fronts.
Offer cashless payment options
Cash is no longer the king for retail sellers as customers look for cashless transactions in the new normal. Cashless is a safer option since the virus is still here and can spread by touch. You can rely on a POS system for cannabis debit processing to ensure safety for your customers. POS systems blend with all sales modes, from in-store sales to curbside pickups and doorstep deliveries. The solution has benefits beyond customer safety in pandemic times. The option to pay with their card is a plus point for consumers and boosts the growth of your business.
Go the extra mile with compliance
Embracing digital technology for compliance should also be on your wishlist in 2022. Once again, a POS system can help your retail business. It supports regulatory compliance by facilitating customer check-ins, tracking daily sales, and rejecting transactions after reaching daily limits. With this system in place, you will not have to worry about penalties caused by employees not being vigilant enough about the regulations.
Manage employees better
Employee management is another aspect you can consider modernizing with digital technologies in 2022. You may need a bigger team to manage demand and sustain a growing business. A robust employee management system can help you address processes like employee scheduling, time tracking, payroll, and performance management. It is a small price to build a productive and efficient team for your business.
Going high-tech should be your top priority this year if you want to grow your cannabis retail business. You can start with these essential technology solutions and pick more down the line.