Every cannabis dispensary owner wants to increase their revenue as well as their profit. There are many ideas from running deals, creating customer reward programs, or even increase spending on marketing efforts. But what about using customer emotional triggers to increase your average ticket size?
In this episode, we explore what drives people to make impulse purchases and discuss tips on how to increase the revenue and profit of your cannabis dispensary.
Here are some helpful spots to jump to in the video:
- What is Impulse Buying?
- What causes dispensary clients to impulse buy?
- 4 reasons people impulsively buy and how to leverage these in your cannabis dispensary
- Enjoyment (New/Novel Products)
- Loss Aversion (Gift Card Deals, Named Deals)
- The Need to Stockpile (Large quantity deals, Double stamps)
- Optimism (High-value bundles, Variety bundles) (14:36)
- Put Clients Through a Checkout Aisle
- Suggestive Selling
- Strategic Deal Offers
If you need help with your cannabis business accounting, then please reach out to us at: https://greengrowthcpas.com/get-started/ or call 800-674-9050.
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