How to Ready Your Inventory for Summer 2021
Somehow, summer is almost here and it’s time to begin preparing your inventory for the summer holidays!
We are focusing most of this article on consumer-facing companies, but a few of these tips will apply to wholesalers, cultivators, and other operations within the supply chain. With summer around the corner, here’s what you need to do:
Trash expired cannabis products
Before you take a single step further, clear out any overflowing product in your facility. Make it simple and look for expired items first. Look anywhere that may be housing old, expired products and get rid of them.
When it comes to cannabis, it’s even more important to trash expired goods. Not only do you have food-based ingredients to worry about in some instances, but you also have cannabinoids. Cannabinoids are not permanently shelf-stable, they will degrade over time, especially in the hot summer months. Therefore, it’s important to make sure your customers don’t end up with a product that’s virtually useless.
Remove excess cannabis products
Once you’re certain all expired products have been thrown out, move onto excess products. Excess products would be considered products that aren’t expired but don’t sell as well as other products do. Slow-selling products are tying up cash and space that could otherwise be spent on in-demand products, so it’s important to get rid of low-performers before the summer holidays start.
Have a summer sales event for slow-movers
Don’t just throw out your slow products, though. Try selling them at a discount during a Memorial Day sale, just a few weeks before summer begins! Make sure you give your customers plenty of time to prepare for the sale, notifying them well in advance before it starts. We recommend telling your customers about the sale as soon as you’re sure it’s happening, but at least two weeks before it’s set to begin. It’s helpful to blast the message across all platforms, so don’t forget to update your social media pages, email your mailing list, and let your customers know in-person, too.
You can also do a clearance sale, which is particularly helpful in late summer/early fall before the end-of-year holidays are set to begin, however, they’re a useful choice any time you have excess inventory. Bundling products together for a lower price is also an option, and it encourages customers to try new products.
Revamp your marketing
If you’re not interested in selling the products at a discount, refresh the presentation. You may not have control over the product’s branding, in which case, you need to update how you market that product. A revamped online product description, a new focus spot on your homepage, or a few social media spotlights can spark enthusiasm around a traditionally low-selling product.
Now, once you’ve cleared your inventory, you’ll want to refocus your attention on naturally high-sellers. This way, you aren’t wasting ad spend and your customer’s energy on products that don’t immediately perform.
Decide now which holidays you’ll be participating in
If you’re offering summer sale events, plan for them now. Decide which products will be on sale and exactly how you plan to market them to your customers. Inform your staff of the sales and ask them to begin mentioning it to guests when they come to your store. The more time you can give your customers to prepare, the better. You might ask your guests what they’d like to see on sale this summer and consider taking their suggestions if it’s feasible.
Summer holidays to prepare your cannabis inventory for
Some summer holidays to consider participating in:
- Memorial Day (May 31st)
- Fourth of July
- Labor Day (September 6th)
There aren’t too many major holidays during the summertime, but the three we mentioned always have awesome retail sales: so you won’t regret having some, too. Fourth of July is a great time to focus on American brands, especially those small companies that have been hit hard by the pandemic. Consider donating a small portion of the proceeds to those brands and sharing their story with consumers.
You might also have sales on unique holidays, like:
- National Water a Flower Day (May 30th)
- National Stay Out of The Sun Day (July 3rd) - Encourage customers to load a bowl, turn on a Netflix movie, and stay out of the sun! If you offer a delivery service, this would be a good time to spotlight it.
- Summer Solstice (June 21st)
- National Dog Day (August 26th) - A great opportunity to highlight any pet products you might have! Consider having guests show you a picture of their dog to receive an in-store offer.
Stock the shelves with edibles & flower
If this summer is anything like last year’s (hopefully not), edibles will be more favorable among consumers than pre-rolled joints! Last year, for the first time, consumers named edibles over pre-rolls as their preferred method of consumption. It’s hard to say whether or not the coronavirus pandemic played a part in that, but nonetheless: it shifted the product landscape and you should plan accordingly. Stock your edibles inventory with light flavors like citrus and fruit for summer. If you offer infused cold drinks - consider placing them on ice as soon as your guests walk in.
Despite edibles’ rising popularity, flower still reigns. According to New Frontier Data, 53% of consumers preferred flower in 2020 over other consumption methods. More specifically, pre-rolled joints. Make sure you have these fan favorites aplenty during the summer holidays, even if you aren’t having a sale on these items! During the heat of summer, take consistent care to ensure your edibles aren’t expired or melted. Cannabinoids are vulnerable in the heat, so it’s important to be vigilant, especially in ultra- months like July and August.
Cultivators, we’re talking to you now. As you know, cannabis flower is always in demand. But as summer ramps up and holiday sales begin, make sure your bud is in premium condition. Immediately reach out to your partners in retail if you notice something wrong with summer products, that way, they can plan accordingly.
Reach out to your cannabis suppliers before summer begins
Once you’re certain you’ll be stocking up on certain items for summer, reach out to your suppliers. Chances are, you won’t be the only one having summer sales events. The earlier your supplier knows, the better chance you have at ensuring adequate inventory. You should keep your staff abreast of any new developments with suppliers and make certain they are aware of summer holidays and sales.
Troubleshoot any software issues before summer begins
Test software to ensure its functional
There’s nothing worse than a software malfunction, except when it malfunctions during an incredibly busy summer holiday! Don’t let this happen to you.
If you’re working with Flourish, thumb through our help center before the hustle and bustle and make sure you’re correctly operating all of your systems. Retail operations can find resources about customer delivery and pick-up orders, METRC retail delivery processes, and more through the help center. If you’re a cultivator, the help center can assist you in things like adjusting your expected harvest date, creating a package from harvest, applying additives to plants, and recording plant waste. Manufacturing facilities can also take advantage of our help center.
If you notice anything amiss, the center has an embedded contact form for you to reach out to us.
Incorporate Flourish’s resources in your training protocol
Some operations hire additional help during the busy months. If that’s you, make sure your new staff is trained on all software systems. It helps to watch a live interaction between your employee and guest, or just your employee, that way - you can identify potential issues in real-time. When it comes to correcting your staff, be kind and helpful. Consider implementing relevant components from Flourish’s help center as part of your onboarding program, which is available for anyone to access on our website at any time. Your blog post content here…