Keeping your customers hooked through the best mobile apps in cannabis | President @ Digital Awesome
Interesting Insight from Headset: More sales doesn’t always equal more profit! 💡 While it’s tempting to increase sales volume through discounts, data shows that boosting your top-line revenue doesn't always translate to higher profits. 🚫 Instead of relying solely on discounting, why not consider leveling up the shopping experience? ✨ Enhance the customer journey: Make every interaction memorable, from browsing to checkout. ergo - make it hassle free! ✨ Amp up your rewards tactics: Offer exclusive perks, gamified loyalty programs, or personalized deals that keeps them coming back. ✨ Tap into other purchase motivators: Think beyond price—focus on convenience, emotional appeal, and brand connection. There's a lot of untapped potential in how you can engage and convert customers without sacrificing margins. #postholiday #retail
📊 What can your sales data teach you about smart discounting? This chart tells a fascinating story about cannabis retailers during Green Wednesday. It compares revenue and profit growth for stores from one Wednesday to the next. We all know Green Wednesday drives a surge in traffic, but it’s also a day when many stores offer heavy discounts to attract customers. While discounts can boost revenue, they don’t always translate to profit. The green dots in the chart show stores that nailed it: they grew revenue and profit at similar rates, keeping their margins healthy. But as you move from green to red, it’s a sign of over-discounting—higher sales but shrinking profits. The median store grew revenue by 73.6% and profit by 52.5%, which isn’t ideal from a profit perspective, but still shows that most stores had a fantastic day of sales growth. The takeaway? As a retail operator, your sales data isn’t just numbers—it’s a guide to smarter decisions. Events like Green Wednesday are prime opportunities to grow, but the key is finding balance. Track your profit alongside revenue and aim for proportional growth. Remember, sales success isn’t just about how much you sell—it’s about how much you keep. The median results show how strong the day was overall, but the real magic lies in listening to your data and fine-tuning your strategies. Are you setting yourself up for both revenue and profit wins? Want more info and to see how your metrics stand up to the crowd? Check out our interactive tool @ https://lnkd.in/g49WVDaS #cannabisindustry #cannabisdata
