The holiday season is upon us and while some of us are prepared, others are not. It might be for a variety of reasons. The cannabis industry is full of non-stop challenges, so getting out ahead of upcoming events, holidays, and reacting to changes in your business takes a concerted effort.
In this post, we are going to spotlight a few key highlights for each stop along the cannabis supply chain as we move into full gear during the holiday season. Are you ready?
Cultivators
1. Plan ahead. Ask your retailers in advance what cultivars (strains) are on the rise and which might be in demand this time of year.
2. Second, 
Manufacturers & Distributors
1. Manage your non cannabis inventory, such as packaging, in advance. Are you doing special holiday packaging for any SKUs? Don't over or under order! Ideally, your seed to sale tracking system has some data which you can refer to from previous years transactions and sales history.
2. Left with extra on-hand inventory? Be the first supplier to reach out to your retail partners immediately following the holiday for replenishment.
Retailers
1. Check out these helpful strategies intended to boost add-on sales at the point of purchase. Share these strategies with your budtenders so they are confident in their POS pitches.
2. Double check that all your discounts and promotions are hard-coded in your retail POS, ensuring your budtenders aren’t left to make decisions on their own, on the fly, or forcing the customer to wait while they try to get manager approval.
Start Gathering your Data Now
You’ll notice most of the highlights or questions we posted have to do with making decisions based on data. It all boils down to: If you can’t measure, you can’t manage.
Another reminder from a previous blog post that your state compliance system is not meant to run your business. Metrc is required in order to be compliant, but it will not help you at all preparing this or any other future holiday season.
Now we understand that many businesses are heading into their first holiday season without any data to make these decisions. But now is the time to start thinking about capturing data in your seed to sale or inventory management system for future holidays and other seasonal events (4/20, 7/10, etc.). Let's call this your company's New Years Resolution.
Good luck out there this week and through the end of the year. If you are making your way to Las Vegas for the MJBizCon show in December, please stop by and we’ll be happy to dive into our new Analytics module which will give your operation the data and insight needed to maximize revenues and operate more efficiently.
Tom Madigan, Flourish Board Member, has more than 25 years of consumer market executive experience and spent 21 years as vice president of the Retail Global Business Unit for Oracle. Tom was a primary contributor to the vision and execution of Oracle's Retail strategy. Prior to joining Oracle, Tom served as vice president, marketing director and national sales manager for a Los Angeles-based importer, manufacturer and wholesaler of branded and private-label apparel. Additionally, Tom’s career has included roles as vice president and merchandise manager at TJ Maxx and executive management and merchandising positions at several retailers including Dress Barn, Inc. (Ascena Retail Group during their IPO) Ohrbach's Inc., and Associated Dry Goods Corp.
