Close Menu
  • Home
  • News
  • Lifestyle
  • Law
  • Business
  • Education

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Ohio GOP Seeking to Change Voter-Approved Adult-Use Cannabis Law

May 30, 2025

U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

May 29, 2025

Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

May 28, 2025
Facebook X (Twitter) Instagram
Sunday, June 1
  • Home
  • Contact
  • Privacy Policy
  • Terms & Conditions
Facebook X (Twitter) Instagram LinkedIn VKontakte
Smoke Professional
  • Home
  • News

    More Than 1,000 Arrested in Sweep of U.K. Weed Grows

    July 8, 2023

    Scotland Calls On UK To End ‘Failed’ Drug War With Decriminalization And Harm Reduction Approach

    July 8, 2023

    Germany’s draft law for first phase of cannabis reform

    July 8, 2023

    High Times Cannabis Cup Illinois: People’s Choice Edition 2023 Kicks Off

    July 8, 2023

    Pennsylvania Committee Advances Expansion to State Medical Cannabis Program

    July 7, 2023
  • Lifestyle

    How Watching the News Can Trigger Anxiety and Panic Attacks

    October 28, 2024

    Record High Cannabis and Hallucinogen Use Among Adults

    October 27, 2024

    Weekend Sleep Catch-Up May Lower Heart Disease Risk by 20%

    October 27, 2024

    Energy Drinks Linked to Poor Sleep Quality and Insomnia

    October 26, 2024

    First Psychedelic Church for Magic Mushrooms

    October 26, 2024
  • Law

    Ohio GOP Seeking to Change Voter-Approved Adult-Use Cannabis Law

    May 30, 2025

    Federal Lawmakers Call for Medicaid Fraud Investigation Into Florida Anti-Cannabis Political Group

    May 26, 2025

    Minnesota Ends Criminal Penalties for Bong Water

    May 23, 2025

    Minnesota Bill to Set Up Adult-Use Cannabis Industry Moves to Governor

    May 22, 2025

    Pennsylvania House Passes Cannabis Legalization Bill

    May 8, 2025
  • Business

    U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

    May 29, 2025

    Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

    May 28, 2025

    Minnesota Tribe Signs Agreements to Open Adult-Use Dispensaries Off Tribal Land

    May 28, 2025

    Washington to Issue New Social Equity Cannabis Licenses This Summer

    May 27, 2025

    DEA Raid Confiscates Over 29,000 Cannabis Plants in New York

    May 26, 2025
  • Education

    CBD and the Aging Population—What Science Says Today

    March 12, 2025

    Wholesale Nootropic Skincare: Boost Your Product Line

    March 10, 2025

    Ideal for Your Business Needs

    March 8, 2025

    A Must-have For Every Smoke Shop

    March 3, 2025

    The Perfect Addition to Your Product Line

    March 1, 2025
Smoke Professional
You are at:Home»Business»3 Last Minute Holiday Retail Preparations
Business

3 Last Minute Holiday Retail Preparations

adminBy adminNovember 3, 2023No Comments4 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
3 Last Minute Holiday Retail Preparations
Share
Facebook Twitter LinkedIn Pinterest Email
last minute holiday retail preparation for better sales
Illustration: Roman Samborskyi / Shutterstock

As the holiday season approaches, retailers must strategically prepare to capitalize on the most festive time of year. Looking back at last year’s holiday cannabis sales, we witnessed an undeniable trend in consumption: The top-selling products included a mix of top-shelf and classic flower strains, 1g distillate cartridges, and indica gummies. The demand for these products soared during the holidays, leading to a remarkable 34-percent increase in average basket size during the week of Thanksgiving and an 11-percent increase in average basket size during the week of Christmas.

How can retailers effectively prepare for the holiday rush? Here are three top ways to ensure success.

Offer discounts and promotions

The psychology of holiday shoppers is clear: They love a great deal, especially during the holidays when they have to buy gifts without breaking the bank. Retailers may wonder when to begin holiday discounts and how long they should last to be most effective. The timing is crucial. Treez data indicates implementing a flash sale for a limited time leading up to the holiday can be very effective: Last year, discounted products brought in 16.27 percent more net sales than non-discounted products, and 25.65 percent more units were sold when a promotion was in place.

A few great examples of discounts and promotions consumers love are enticing offerings like buy-one-get-one deals, bundles featuring popular holiday-themed products, winter-themed gifts with purchase, or discounts on your dispensary’s most sought-after products. To streamline the process, establish a well-structured schedule for discounts and promotions, promptly retire expired deals, and give each deal a clear, enticing name for easy data analysis. These strategies not only drive sales but also increase foot traffic during the holiday season and are easy to implement.

Manage your inventory

Creating an effective inventory-management strategy prior to the holiday season is essential, especially when offering discounts and promotions that can deplete stock rapidly. In order to manage inventory, retailers should utilize a comprehensive data dashboard to forecast demand during peak weeks. A point-of-sale (POS) dashboard should allow retailers to analyze their sales from previous holiday seasons to help avoid overstocking or running out of popular products. With this forecasting tool and sales analysis, retailers are able to focus on optimizing customer experience without having to worry about what is going on behind the scenes.

Regular inventory audits are equally crucial, as they help retailers reorder popular products before they run out and identify underperforming items for potential promotions. By conducting these audits before the holiday season, retailers can ensure their shelves are well-stocked to meet a surge in demand.

Install a loyalty program

The success of your dispensary shouldn’t be limited to the holiday season. Once the craziness of the holidays dies down, you’ll want to ensure customers continue to return. Data shows daily net sales decreased 9.37 percent and daily units sold decreased 10.45 percent in January 2023 compared to the holiday peak between December 23 and 31, 2022. Forecasting for this year, we expect to see a 10-percent decrease in sales after that same peak period this upcoming December. However, loyalty programs can help mitigate this decrease by fostering lasting customer relationships and increasing consumer spending.

As you gear up for the holiday season, it’s crucial to have the right POS system in place. Cash and integrated PIN debit were the two most popular payment methods last year, so ensuring a seamless shopping and payment experience for customers is essential to keep your business running smoothly.

By following these tips and leveraging technology to streamline operations, retailers can navigate the holiday season with confidence, providing customers with exceptional service and maximizing their revenue potential.


John Yang CEO TreezJohn Yang is the chief executive officer of Treez and an expert in enterprise cloud-commerce technology. He co-founded Treez in 2016 in response to the demand for software solutions specific to the needs of the cannabis industry. Prior to Treez, he consulted at Slalom Consulting, where he specialized in program management, business improvements, software development, customer-relationship-management solutions, and business intelligence.

Source link

Holiday Minute Preparations Retail
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleMissouri Removes 15k Affected Products from Sweeping August Recall
Next Article Georgia Appeals Court: Delta-8, Delta-10 Products Not Controlled Substances
admin
  • Website

Related Posts

U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

May 29, 2025

Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

May 28, 2025

Minnesota Tribe Signs Agreements to Open Adult-Use Dispensaries Off Tribal Land

May 28, 2025

Comments are closed.

Our Picks

Ohio GOP Seeking to Change Voter-Approved Adult-Use Cannabis Law

May 30, 2025

U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

May 29, 2025

Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

May 28, 2025

Minnesota Tribe Signs Agreements to Open Adult-Use Dispensaries Off Tribal Land

May 28, 2025
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Don't Miss
Law

Ohio GOP Seeking to Change Voter-Approved Adult-Use Cannabis Law

By adminMay 30, 20250

Republican lawmakers in Ohio are seeking to make changes to the 2023 cannabis legalization law approved…

U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

May 29, 2025

Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

May 28, 2025

Minnesota Tribe Signs Agreements to Open Adult-Use Dispensaries Off Tribal Land

May 28, 2025

Subscribe to Updates

Get the latest creative news from Smoke Unlimited about Weed & CBD vaping.

From Our Partners
About Us
About Us

Get all the current news stories, latest trends and legislation regarding cannabidiol, products, usages and its benefits. So don’t miss out any buzz and stay tuned! We offer a minute to minute updates regarding Marijuana industry.

Facebook X (Twitter) Instagram Pinterest
Our Picks

Ohio GOP Seeking to Change Voter-Approved Adult-Use Cannabis Law

May 30, 2025

U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

May 29, 2025

Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

May 28, 2025
Sponsors
Copyright © 2025. SmokeProfessional
  • Home
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.