Amid tax woes and price compression, cannabis retailers are searching for new ways to boost their bottom lines.
The secret solution? Small-ticket items and smarter retail systems, according to Mike Martin, the vice president of sales at Denver-based gear wholesaler Luvbuds.
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Oversaturation and excess supply have driven retail prices down by about 32% since 2021, while operators continue to face high regulatory costs, overhead and federal tax burdens.
Enter “The TRIAD”- a collaboration between data analytics platform Hoodie, B2B software provider SparkPlug, and the marketing prowess of LuvBuds that’s built on a simple premise: sell more of the small stuff.
In a recent conversation with MJBizDaily, Martin outlined how the partnership pairs real-time inventory data with visual merchandising and incentive-based staff training.
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