The cannabis industry has grown a lot since the last few years, with many states legalizing cannabis usage and manufacturers launching many industry-specific products like medicinal, recreational, edibles, and skincare. There is an expectation of a 640 million dollar growth in the cannabis industry every year. With so much money involved, it is critical to have the right tools for proper cannabis business management. As a result, there is a significant requirement for robust point-of-sale software for the retail industry. These pieces of software can satisfy the different technicalities, needs, and hurdles of cannabis dispensaries. Investing in a reliable and efficient point-of-sale(POS) software with the latest features and functions helps regulate the cannabis industry's demands.
Here are the five reasons why cannabis retailers need software to manage online orders, inventory and attract customers.
A cannabis business cannot be successful by attracting only the nearby and local customers who walk into the store. For a business to be successful, you must allow people to shop online conveniently through various devices, like mobile phones and laptops. A more-advanced cannabis POS can easily do this.
Powerful point-of-sale software lets you connect your store to various online and mobile platforms. The rise in competition among different cannabis dispensaries makes it imperative to use POS software to increase competitive advantage. Online sales will allow the cannabis business to reach a lot of audiences and increase the investment return. Notifying the existing customers about limited-time offers will ensure a fast response.
Cannabis is a highly cash-infused industry, and hence, cannabis dispensaries struggle with the safety of such an expensive product. Integrating the cannabis POS system with the delivery and tracking apps will ease the security woes and safety concerns of business owners.
A POS system integrated with delivery apps shows live route maps, drivers status, and geo-fencing alerts when required.
After setting up a cannabis store, there are a few things that are more crucial for your business' success than effectively managing the inventory. Inventory management includes controlling purchases, storing, and organizing the products. For the growth of the cannabis business, you must spend more time ordering new products and dealing with customers instead of manually entering the sales and inventory. Using a modern, user-friendly cannabis POS will maximize your efficiency by automatically calculating stock, and giving real-time suggestions about your stock-level. Managing inventory is also time-consuming. So, using the right RFID technology can help cut down the staff-hours of auditing. A good POS system will also handle front-end operations like processing payments and discounts along with compliance tracking and reporting.
Many cannabis businesses operate at different locations, and it can be challenging to manage every business activity at the same pace. That's why you require a POS software that efficiently manages your businesses from a single device. It gives you the power to track inventory and expenses, manage staff, and analyze business metrics from the POS dashboard installed on your tablet or mobile.
It will be easy to customize marketing, advertisements, menus, and videos based on different locations and customers. The ease and flexibility offered by POS software to manage businesses at multiple locations can save you a lot of time. You get more time to decide a new menu, redesign or launch new products, thus diversifying your product catalog.
A well-synced point-of-sale software will ensure all sales, inventories, and location reports for various stores are always available for better business management.
Cannabis dispensaries and other-related businesses are proliferating, and so is the competition. It gets difficult to remember every customer and connect with them. Choosing a software system will allow you to communicate with your customers more effectively and efficiently through emails and push notifications, promoting repeat business. It helps in analyzing the customer's choice of products and their mode of purchase. Creating a sales channel lets you quickly announce the big offers, new strains, seeds, and highlight any sale to the customers. The software also allows you to reward customers who purchase frequently, bring friends, and attend your business events. The point-of-sale software makes the tracking of loyalty points and sales painless and accurate.
Using software to manage online cannabis orders will help grow your cannabis business in this competitive market. It gives you more time and energy to focus on many essential things, like expanding the company to new locations. It also allows you in the efficient management of the workforce.