Due to the rise of online shopping, cannabis retails have a new challenge in front of them for Black Friday and Cyber Monday: get their consumer away from the computer or mobile phone, and into the store to take advantage of once a year deals.
Last year, the number of people visiting stores on Black Friday declined by 4% while online sales rose 18%, which is an indication that the shopping experience is moving to the computer and the mobile phone. Cyber Monday was no different – there was a 16.8% rise in online shopping in 2017 over the previous year, with consumers spending a record $6.59 billion on consumer goods. Despite this, 137 million people visited stores over the four-day period following Thanksgiving.
With cannabis stores largely being able to offer cannabis deals in-store, retailers can take advantage of their online captive audience to entice them in-store, while providing further in-store deals that will ensure their loyalty and have them coming back, well past the holiday season.
Here is a definitive guide for getting your cannabis store Black Friday & Cyber Monday ready:
Prepare Your Deals
Black Friday is a day that everyone wants to get something for less, so comb through your inventory to see what you can offer your consumer who is looking for a true door-crashing deal. Here are some ideas:
- Offer $5 (or less) pre-rolls for the on-the-go shopper in a variety of strains;
- For the hungry shopper, place some of your lower potency edibles on sale. For instance, chocolate bars with 20mg often are a slower sale; offer these at 25% for the day;
- Offer select strains for under $100 an ounce
Build Your Mobile Marketing Strategy for Loyalty Members
If there’s any appropriate time to reach your customer through their mobile phones, it’s Thanksgiving Day, when cannabis consumers are eager for some cannabis after a giant family-filled meal.
Prepare your mobile marketing strategies to your Loyalty Members well in advance that will give them a reason to come in-store and take advantage of their membership status. For instance, offer them 40% on a particular product for loyalty members, and entice them to come into the store by announcing “wildcard” sales on exclusive products for loyalty members in-store on Black Friday and Cyber Monday.
Don’t stop the engagement over the Black Friday and Cyber Monday period. Take advantage of the urge to shop by reminding members of the in-store and online sales available to them over the four-day heavy shopping period.
Provide Exclusive Order-Ahead Deals
If your cannabis retail store has a strong eCommerce infrastructure, let your customer truly participate in online sale shopping by offering an order ahead feature with a special discount.
Display your menu with your regular prices, along with your Black Friday/Cyber Monday prices so your customer can easily recognize a deal.
Enticing customers through the order ahead feature will also get them in-store where they can see further promotions.
Ramp Up Social Media Engagement
Instagram is a great way to engage your customer, especially in those quiet moments when they can get away from their family and the holiday cheer to browse what’s happening on their phone.
Offer an online raffle through Instagram for a new product like a vaporizer or glass piece, where the customer has to comment on the Instagram photo with one of their friends handles. This will entice their friends to check out your Instagram page, where they can see what’s happening online and in-store for Black Friday and Cyber Monday.
Host Vendor Pop Up Days
Cannabis retailers are engaging vendors more in their store to help them develop brand loyalty and engage with the customers directly. People love being able to see the faces being some of the brands you hold in store, not only building brand loyalty but customer loyalty as they align their favorite brands to your store.
Use Black Friday as a day to invite one or a few brands into your space to have them engage with your customers directly. They can even help take some of the cannabis education and information from your customers on the busy day.
Of course, purchases from vendors who visit in store should be discounted to honor the exclusivity of their in-store presence.
All Hands on Deck
While 420 is usually referred to as the Black Friday of cannabis, there’s no doubt you’ll see more consumers hit the sales floor by building an excellent Black Friday & Cyber Monday strategy.
Be prepared for the influx in customers by getting all hands on deck, and preparing your staff for being busier than normal. Don’t forget cannabis education in the business—you may have first-time consumers visit your store who will require a full cannabis education experience; ensure this area is prepared and clear amongst the chaos. Stock up on cannabis education experience to ensure that consumers have all the materials they need to safely consume.
Keep the Momentum Going on Saturday and Sunday
Take advantage of the 4 days after Thanksgiving by giving people reason to visit on Saturday and Sunday as well.
“Shatterday” is an opportunity to offer one free gram with the purchase of four. “Sunday Funday” is also a day where you can offer some of your residual Black Friday deals and offer exclusive pre-Cyber Monday deals for those who visit in store.
Prepare, Prepare, Prepare
When it comes to big sales days in any industry, you can’t be too prepared. Start early with your planning, and start to promote your Black Friday and Cyber Monday sales in-store through brochures and having your staff notify customers of the available deals.
With all hands on deck, your inventory well-stocked, and deals that customers simply can’t pass up, you can count on the four days following Thanksgiving being profitable.