We’ve prepared some tips to make sure your store is ready for the big annual celebration of oil, from inventory to staffing to discounts.
Stock up on inventory
You don't want to run out of products on 7/10, so make sure you have enough supply of your best-selling and most popular oils and accessories. Order special or limited-edition products to attract more customers and create a buzz.
If you haven’t reviewed your inventory settings recently, now may be a good time. Check out the knowledge base article here for a refresher on how to sell into the negative or edit pricing. If you aren’t using tags, you might try applying special naming conventions for 7/10 inventory as well.
Did you know that you can curate a special room that can house your 7/10 product until the big day? This makes it easy to control 7/10 inventory. Rooms allow you to set product aside and not have it visible to your online menus or sellable on the POSaBIT POS. Learn more about inventory rooms in the knowledge base, or check out the article on multi-room inventory splitting.
Are you staffed appropriately?
Expect a surge in sales and new interest in oil on 7/10. Expect a surge in traffic and sales on 4/20. Are you using the customer check-in queue? If not, give it a try before 7/10. You can read more about the customer check-in queue here. Your staff should also understand your refund policy and know how to check for a duplicate transaction.
You may also need more staff to handle the demand. Just be sure that they are familiar with your products and policies.
Prepare your discounts in advance
Be sure to develop your list of discounts well in advance - and leave time to test discounts before the big day. POSaBIT has a Discounts section on our knowledge base to prepare you for the big day, but you should be familiar with creating new discounts, using fixed pricing, and creating “buy x get y” discounts.
We have also seen that bundled discounts can generate additional revenue by pushing more SKUs and higher ticket prices per customer – all without feeling pushy.
And if you’re not using product tags, you’re missing out. This handy feature helps with reporting and discounting on the POSaBIT POS. The knowledge base includes details on the many uses of product tags, as well as instructions to create and add product tags to products.
Partners in celebration
Consider partnering with an established or up-and-coming oil brand or local canna-celebrity to promote 7/10. Oil may be unfamiliar to some shoppers, so the opportunity to educate and upsell can’t be underestimated.
Double-check that online menus are working
Be sure that your product mapping is set up correctly, and that your online menu is reflecting active inventory and pricing. Pretending to be a customer at your own store can catch small errors or missed opportunities. If you’re using the POSaBIT ecommerce menu, check out the knowledge base article on creating or editing your online menu here.
Follow the rules
Yeah, we know. But you’ll want to be sure that you - and your team - follow all the legal and safety regulations regarding oil sales and consumption. Check your local laws and guidelines before 7/10, especially around discounts or space to consume.
See how things went on 7/11
Once the big day is over, be sure to run a day-after audit to confirm your inventory and account and check for any shrinkage.
You might also find reports like profits by supplier, by product, by employee, by tag or by discount to better understand how your store and team performed on 7/10.
By following these tips, you can make sure that your cannabis store is ready for 7/10.