5 ways retailers can grow their sales

| Contributor

Spoiler Alert: It’s Increasing Diversity

Diversity is no longer just a buzzword. It’s something that consumers actively seek in the brands and stores they support. In fact, according to a recent study by Meta, 59% of consumers polled said they prefer buying from brands that stand for diversity and inclusion and according to Top Design Firms, 67% of consumers are likely to make a second purchase from a brand they believe is committed to diversity and inclusion.

In our competitive landscape, showcasing diverse brands with authentic origin stories will make your store stand out and attract loyal customers. And we all know the 80/20 rule: 80% of sales come from your 20% most loyal customers. 

Despite this clear opportunity, we continue to face an astronomical gender gap in brand representation. Zyre is one of less than 3% of women-owned cannabis supply-side brands in Canada. Although there’s been progress, especially with women-owned retail stores and accessory brands, the numbers are bad even there. 

This is where we, the cannabis community, can come together and help empower and grow women-owned brands and women in the cannabis space while capturing the loyalty of our customers. You can do this by carrying distinct products that attract a loyal customer base which are not carried by your surrounding stores.

In Ontario, Zyre is only in 100 out of the 1,600 stores—just 6.6% store penetration. And we’re only just entering other provinces like Saskatchewan, Manitoba, Yukon and Newfoundland. And with that comes an opportunity to draw in a loyal customer base who frequently express that our origin story and commitment to uplift women in cannabis resonates with them. After all, we didn’t become the top-selling full-spectrum vape brand in BC without this support from our customers.

As a retailer, you are the primary touchpoint to engage customers. Your participation is integral in building this customer loyalty to diverse brands and your store, and here are 5 ways you can grow your sales and contribute to growing our industry.

1. Intentional Product Assortment

Retailers can actively choose to support women-owned cannabis brands through their purchasing decisions. By intentionally including products from female-led businesses, you are contributing to a diverse selection for your customers and building loyalty. Of course, you want to find brands that are also good quality, guaranteeing returning customers and customer loyalty.

Look for products like Zyre, our full-spectrum all-ceramic vapes will give your customers these distinct benefits while appealing to their keen interest in supporting diverse & inclusive brands:

  • All-ceramic vape for cough-free and smoother draws;
  • Full-spectrum hydrocarbon extracted resin for longer lasting and well-rounded highs; and
  • Botanical terpene blended distillate for a fruit-flavoured experience with higher THC levels and better shelf stability than other full-spectrum vapes.

2. Featuring Products

Incorporating “staff picks” can be a powerful tool, as items chosen by staff members are more likely to be purchased. Retailers can use the “staff picks” section to showcase and promote products from women-owned cannabis brands, thereby increasing their market visibility and encouraging consumers to explore a diverse range of offerings. 

This year, Zyre’s Women’s Day campaign focuses on supporting women-owned cannabis brands every day, and not just once a year. A great way of doing this is for stores to have a “woman-owned brand of the month” that features different women-owned brands like Zyre, allowing these brands to increase their exposure while showcasing your store’s support of diversity and gender equality. Get those loyal return customers! 

3. Drive Consumer Purchases

Retailers play a pivotal role in influencing customer choices. According to AdCann, 86% of brick-and-mortar sales come from in-person purchases where a large number of consumers coming into your store will interact with your budtenders. Training budtenders to be aware of and consciously promote good products that are women-owned is a significant step towards creating a more inclusive industry. 

Plus, diversifying your product offerings helps grow opportunity. For example, with Zyre, you now have the easiest way to trade up your distillate customers through the same fruit flavours but with smoother, longer-lasting effects. 

4. Store Displays, Education, and Awareness

Promoting awareness about gender disparities in the cannabis industry is important to foster change. Retailers can use in-store displays to share educational content highlighting woman-owned products. Educating about and bringing awareness to the gender gap in the industry encourages consumers to support and buy more women-owned brands that you carry. This is your opportunity to remind customers that you’re carrying something distinct and diverse.

As a way to remind customers of our unique product, we’ve created our Women’s Manifesto that encourages consumers and retailers to buy cannabis from women more than once a year. As a brand, we feel it is important to voice our experience in the industry and work to bring awareness and change. While retailers also play a key role in doing this, as a brand it is helpful to have your key messaging and any store displays well explained to the retailers to help get the message across effectively.

5. Store Culture

The support for women in cannabis should extend beyond Women’s Day or Diversity and Inclusion Day. Let’s promote women-owned brands regularly in-store, online, and through educational content and store displays. Bringing this diversity of products into your store can help increase your sales by opening up to a wider customer base, but it also helps foster a more inclusive work environment. 

Diversity is something that today’s consumers are actively looking for when they purchase from brands. In the cannabis industry specifically, it is a much-needed growth which can be done only by you, the retailers. It’s a win-win situation—your support of women-owned brands brings you a broader customer base with high chances of returning customers and an increase in sales, while it helps us put our proudly woman-owned cannabis business on the map and grow.

So, join us, Zyre, in supporting women-owned brands every day of the year, inspiring upcoming women to embrace cannabis as an industry where they can thrive, and we can all grow together.

Content sponsored by: Zyre