The pop-up shop has proven to be an effective way for traditional retailers to increase sales and attract new consumers. Because pop-up shops are typically up for short periods of time, ranging anywhere from one day to a few months, their temporary format allow retailers to create buzz, build awareness in new markets, and sell products faster than with a permanent brick-and-mortar location. While local and federal regulations vary in terms of whether a pop up marijuana dispensary is legally allowed to sell cannabis products, or is limited to accessory and branded merchandise sales only, pop-ups are productive because they enable retailers to expand into a broader consumer audience.
As is always necessary in the marijuana industry, first review the regulations to confirm what’s required for establishing a compliant cannabis retail pop-up shop in your state or province. After that, it’s time to set your pop-up pot shop for success, and in this post we describe five surefire ways to help you do that.
5 Ways to Ensure Your Cannabis Retail Pop-Up Shop is a Success
1. Be Strategic About Location
Whether creating a pop-up in another city or as part of larger community event, it’s important that retail owners choose the location as strategically as they would any other critical marketing decision. Which city, venue, or event represents the most logical choice for your brand? Will the location be easily accessible by your target audience? These and other considerations aren’t only about crossing chores off the to-do list; they are also a few of the core factors integral to any thoughtful retail marketing strategy.
2. Choose Your Product Selection Wisely
A pop up store is meant to provide consumers with a curated glimpse into the overall brand experience. Instead of bringing every product in inventory from the permanent location into the temporary store, pop ups give retailers the opportunity to attract consumers with a tighter selection, including items sold exclusively at the event. At minimum, narrow down the assortment to reflect your target consumer. For example, premium pipes and high-end accessories are perfect for the pop up that caters to the upscale Hollywood consumer, while branded hats and tees might appeal to the cross section of adults attending a pop up in celebration of 4/20.
3. Be Intentional About Pricing
Retailers can use the temporary nature of the pop-up as a way to create urgency with pricing. The marijuana pricing strategy used at your dispensary should already factor in the competition and target audience demographics – apply the same thought process to your pop up shop. Create special product bundles unique to the event and use their limited availability to persuade consumers to purchase on the spot. Use the pop up to inform consumers about the unique selling propositions that make your dispensary stand out, whether it’s the city’s best selection of concentrates or an on-sight consumption lounge. Since pop-ups are a great way to prove your brand’s commitment to excellent customer service, inform visitors about the benefits of shopping regularly at your permanent location, like birthday discounts or the consumer loyalty program.
4. Make Your Cannabis Retail Pop-Up Shop Memorable with Marketing
Creative marketing techniques do more than build awareness for your storefront; they also invite consumers to interact directly with your brand. Use your marijuana retail pop-up shop to boost your contact list by encouraging consumers to submit their business cards for a chance to win a $150 gift card.
Make your pop-up an educational event, like this patient drive and pop up shop hosted by an Oklahoma law firm to help consumers navigate how to obtain a medical marijuana card. As an alternative to creating your own pop-up shop, transform a section of your dispensary into a monthly pop-up for your store’s top selling marijuana brands. This concept allows consumers to connect with brands they love, while your dispensary benefits from the brands’ own promotional and marketing efforts.
5. Use Wireless Technology to Manage Inventory and Track Sales
It’s important to remember that the pop up shop is an extension of your retail brand. If consumers find the checkout process in your pop-up to be chaotic or sluggish, your dispensary traffic could ultimately suffer the consequences. That’s why the technology you use plays a critical role in ensuring that every transaction is seamless. In addition, employing a wireless point-of-sale software with complete functionality wherever there’s a Wi-Fi connection ensures all transactions are accurately recorded in the system and transmitted to the state’s reporting database. Everything remains in compliance and there’s no need to manually report sales to the government after the fact, allowing retailers to rest easy.
Looking for more ideas to take your cannabis retail brand to the next level? Subscribe to our blog here.