This article was originally published on Dutchie and appears here with permission.
The second most popular cannabis holiday, 710, is approaching—and it’s particularly near and dear to the hearts of cannabis enthusiasts. But unlike 420, the origins of which can be traced back to "The Waldos" in 1970s San Rafael, California, 710 was born on social media—specifically, Reddit and Instagram.
The impact of 710 on cannabis retailers
Often thought of as a more specific version of 420 tailored to concentrate consumers, 710's date of origin is largely unknown, although it can be traced to the 710 Cup. The 710 Cup was a contest for oil users that first took place in 2012; today, these contests take place annually and have spread throughout the US and Canada.
Regardless of how 710 came to be, one thing remains clear: oil lovers and concentrate consumers will be on the lookout for deals on their favorite products. As a cannabis retailer, you have the opportunity to build the excitement for the 710 holiday in a number of different ways.
How to boost revenue with coupons, specials, and more on 710
Start with posting a Specials board at least several days in advance with upcoming promotions. These should be posted a few days before the holiday to drive hype without deterring current shopping customers before those prices drop.
Coupons are another great way to promote products for a limited time. Coupons act as discount codes and differ from regular Specials because you can format them on Dutchie as either an exact amount or a percentage off. In addition, Specials can create incentives for the customer to meet a certain purchase requirement.
Here are 5 additional tips to ensure your dispensary is getting the most out of the 710 holiday:
1. Know your audience
First thing's first—get into the consumer mindset. Concentrate lovers are into a wide spectrum of products, from BHO slabs to 6-star solventless hash rosin. They're often spending upwards of $80 on a single gram; some users even celebrate on the go with portable vaporizers. Cartridges and vaporizers are some of the more subtle ways to consume oil, and they also provide significant sales value to your store.
2. Use data to back your promotions
If you're a Dutchie customer, use your marketing analytics to understand how previous Specials have performed. Then, repeat high-converting Specials and discontinue (or modify) any low performers.
If you're trying to reach a wider audience and grow basket sizes, use promotional Specials that reward customers based on their purchases. This may include conditional Offers, bulk purchases, and product bundles.
Pro tip: our data shows that customers who redeem promotional Offers spend 41% more on average!
While cannabis product giveaways might not be realistic due to compliance rules, other paraphernalia like dabber tools, carb caps, or slicks are always popular with oil lovers.
3. Make the inexpensive products a bulk deal
Budget dabbers who love high-potency products often prefer to buy in bulk in order to save money. Consider the concentrate purchasing limit for the state you're licensed in, and base your bundle deals on that. It could be something as simple as, “Buy 5 grams for the price of 4.”
Similarly, you could create a deal for bulk purchases of distillate cartridges—this helps ensure budget shoppers can still stock up on their favorite products.
4. Be the destination for high-quality concentrates
Drive excitement and hype in the days leading up to 710. You want consumers to think of your dispensary as the one-stop-shop for all their oil-based needs. Make a bold purchasing move to bring in top-quality products like live resin cartridges, solventless hash rosin, and THCA diamonds with single-sourced terpene sauce. Even the specialty oils should be easy to move on 710, as long as you have solid display and sales tactics.
Merchandise these items on a “top shelf” of your fridge display, so the terpenes stay chilled, and the products appear exclusive. The advanced dabber might scope out these products ahead of time when deciding which store will be their dispensary of choice on 710.
5. Don’t forget tinctures!
Believe it or not, tinctures are one category that often gets overlooked when planning 710 promotions. It's still a liquid in a concentrated form, but on some state commission’s guidelines, these categories overlap. Consider creating a special on tinctures for those who prefer sublingual consumption of their concentrates instead of smokeables.
The bottom line
Merchandising, sale preparation, and familiarizing yourself with the customer’s mindset will help your store make healthy sales goals this 710. Feature the concentrates, tools, and accessories in the forefront of your brick-and-mortar location. Utilize the channels available to you, whether that be online or in-store, to build excitement around your sales. After all, Dab Day is the time to celebrate!
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About Dutchie:
Dutchie is the cannabis technology platform powering cannabis commerce, streamlining dispensary operations, and providing safe and easy access for consumers. Powering over 5,000 dispensaries throughout the U.S. and Canada and processing $14 billion in sales annually, Dutchie is a one-stop-shop, providing solutions for point of sale, ecommerce, seamless payments, and more.
Dutchie aims to open minds to the positive societal change that cannabis brings to the world through health and wellness benefits, social and racial justice, and new revenues for state and local economies and communities. Dutchie’s solutions directly serve dispensaries and consumers alike, garnering recognition as one of Fast Company’s 10 Most Innovative Companies in North America and LinkedIn’s Top 50 Startups for two-years running. To learn more, please visit: www.dutchie.com
