The Retail Revolution WILL Be Digitized

With online shopping at an all-time high, physical stores are adopting AI-driven technology to entice shoppers with unique buying experiences. How can cannabis dispensaries benefit from this technology?

When it comes to shopping, nothing beats the tactile experience of evaluating a product hands-on, getting assistance from a real person, or making a no-fuss return. Yet more customers than ever are opting to shop online, even though 75% of all brand purchase decisions are made at the point of sale. To stay competitive, retailers are embracing new digital strategies and the power of AI technology, something the retail cannabis sector can significantly benefit from. By leveraging the latest advances in retail technology, dispensaries can improve customer experiences, optimize operations, and increase sales in an ever-changing market.

Improve Customer Experience

Intelligent networks — such as the platform provided by OG Guard + Highly Buzzed — offer device data and marketing intel that can connect cannabis retailers with customers like never before. Once dispensary visitors opt-in to receive communications, the network compiles preferential and demographic information to personalize and enhance marketing strategies. 

Industry-compliant product suggestions, educational programming, and influencer storytelling reinforce branding with meaningful, personalized content that builds loyalty. And with 74% of shoppers noticing monitors at POS, this technology is a surefire way to increase shopper confidence to close sales. 

Optimize Operations

AI-integrated remote monitoring systems empower dispensary owners with significantly enhanced security measures to help protect employees, customers, and business assets by anticipating and deterring potential threats, securing inventory from theft and shrinkage, and improving regulatory compliance protocols. The systems can monitor access points, track employee locations and productivity, adjust inventory and pricing, and streamline business processes, all helping to predict revenue opportunities, enforce policies, and protect brand equity.

Increase Sales

Because AI-driven smart networks analyze visitor engagement in real-time — on-site, at home, or within the metaverse — dispensaries can instantaneously redirect advertising and marketing efforts to build and maintain customer interest and drive sales. Brands can present tailored messaging via device targeting, screen advertising, and in-store displays based on an individual's location, facial expression, or even the weather. And studies show that no media buy dominates in-store like digital, with 55% of shoppers recalling advertisements seen on screen and 19% making unplanned purchases of items promoted digitally in a retail setting. In fact, four out of five brands achieved a 33% increase in sales after implementing digital signage strategies.

Next-Generation Retail

So how can dispensaries adapt to this new shopping paradigm? OG Guard + Highly Buzzed's security and marketing network equips cannabis businesses with the most reliable, sophisticated, and compliant monitoring technology. Our first-party data solutions help elevate the customer experience, predict revenue opportunities and process improvements, provide a secure and compliant shopping environment, and, most importantly, increase sales. With inflation, supply chain issues, and post-pandemic consumer behavior affecting retail's bottom line, brick-and-mortar stores must embrace the latest technologies to survive — and thrive — in the new retail landscape.

Sources:

Arbitron Digital Place-Based Video Study

Nielsen Survey: Awareness and Effectiveness of Digital Display Screens Installed in Grocery Stores