3 min read
What Is Out-the-door Pricing And Why It Is Important For Your Dispensary
Out-the-door pricing, also known as all-in pricing, is a pricing method that includes all additional fees and taxes in the final price of a product or service. This means the customer knows the exact amount they will pay before making a purchase, with no hidden or unexpected costs. This type of pricing is particularly important for customers in the cannabis industry, as dispensaries are subject to various taxes and regulations that can affect the final price of a product.
IndicaOnline POS software is a point-of-sale system specifically designed for the cannabis industry. By clicking “I will enter prices inclusive of tax” in the “Tax settings” menu, the software allows you to enable an out-the-door pricing feature. You will automatically include all additional fees and taxes in the final price of a product in your store as well as on IndicaOnlline’s e-commerce platform – Sweede. This not only saves time, reduces errors, and makes it easier to manage the financial aspects of the business but helps improve the customer experience by providing transparency and predictability in pricing.
For customers, out-the-door pricing can provide peace of mind and a better overall shopping experience. Knowing the exact amount they will pay before making a purchase can help to reduce confusion and dissatisfaction, especially when dealing with complex regulations and taxes. Additionally, it can help increase trust in the dispensary, as customers will know they are being charged fairly and transparently.
In addition to providing transparency and predictability in pricing, using out-the-door pricing can also help improve the checkout process’s efficiency. One of the benefits of this feature is that dispensaries can change product pricing so that the final prices will be rounded numbers. This means that the cashier will have to deal with less change during the checkout process, resulting in faster customer checkout times. This can be especially beneficial for dispensaries with a high volume of customers, as it can help reduce wait times and improve overall customer satisfaction.
For example, if the original price of a product is $34.50 and the taxes and fees are $3.50, the final price would be $38.00. This rounded number is much easier to handle than $38.05 and reduces the need for the cashier to give change. This can also increase the accuracy of the cashier, reducing errors and the need for refunds or adjustments.
IndicaOnline POS also helps you avoid the time-consuming process of editing the price for each product manually. You can achieve this by importing precalculated prices to the system (products list -> Actions -> Import prices), making a previously dull job doable in a matter of 2 clicks.
In conclusion, out-the-door pricing is an important feature for cannabis dispensaries and their customers. IndicaOnline POS software provides this feature to retailers, helping them provide transparency and predictability in pricing while streamlining the sales process and improving the retail experience. It also helps customers make their purchases with peace of mind and trust in the dispensary.