A Look Into Cannabis Retail Challenges

ELEANOR LYNCH | May 30, 2019

article image
The global cannabis market could be worth $32 billion by 2022, and consequently presents huge opportunities for retailers. While the transition from prohibition presents huge opportunities, it also presents huge challenges. BDS Analytics commented that 2018 was a year of "constantly diminishing forecasts," as retailers struggled to compete against the black market in a heavily regulated and high tax environment. The cannabis supply chain is strictly controlled, and in some instances publicly owned. As the free market economy is restricted, the industry has consequently struggled to effectively match supply with demand. As cannabis also can’t legally be transported between regional jurisdictions, retailers are unable to establish a nationwide distribution system, hindering their ability to efficiently move products. This has led to widespread product shortages, which have not only damaged the customer experience, but also the legitimacy of the new industry.

Spotlight

CTC + CDW Merchants

The Christine Taylor Collection and CDW Merchants are joining forces to provide even better products and services to the retail visual merchandising industry. The two companies are uniting as one under the CTC brand led by Christine Taylor as a division of Bunzl Retail – a single-source global retail solutions provider.

OTHER ARTICLES

Gap is the Latest Retailer to Get Into Resale, Partners With thredUP

Article | February 24, 2020

Gap is the latest retailer to dip its toes into the secondhand apparel market, following the lead of Macy’s, Nordstrom and others, in a bid to stay relevant in an industry shaken by changing consumer tastes. The company announced last week that it has partnered with resale platform thredUP, which bills itself as the largest online consignment and thrift store. In select Gap, Banana Republic, Athleta, and Janie and Jack stores, thredUP bags and labels will now be available for customers to mail in their clothes, in exchange for credits to use at Gap’s portfolio of stores. Macy’s, J.C. Penney and J.Crew’s Madewell brand have also partnered with thredUP in recent months.

Read More

How In-Store Brands Are Taking Over In-Store

Article | April 10, 2020

CPG companies have been feeling the pain from store brands for close to a decade now. Increased quality, curated offerings and better graphics have all led shoppers to try and in many cases then switch to the store brand offering. The latest salvo in this war is about data. Supermarkets used to rely heavily on data and insights on everything from shelf placement to how to market and promote foods from the likes of their CPG partners as well as Nielsen and IRI, to name just a couple. Then "category captains" were created. Usually staffed from the leading CPG brand and headquartered at the retailer’s location, those CPG companies offered retailers insights and recommendations on how to sell more product across the entire category—not just their own brand. Those positions are being eliminated. The source and quality of data has changed. Grocers are relying on their own proprietary research to decide how and where and at what price to place products—their own brands as well as those from CPG.

Read More

How to Boost Your Sales with Ecommerce Fulfillment

Article | March 3, 2020

Conditioned by ecommerce behemoths, consumers now have high expectations for online shopping and ecommerce fulfillment. They demand more than just easy product selection and ultra-fast or same-day delivery; they also want flexibility in both delivery location and delivery time, and real-time updates throughout the parcel’s journey. Smart retailers understand these rising customer demands, and therefore increasingly put the customer first – not the product – in order to build loyalty. Even one unsatisfactory experience can end an otherwise fruitful customer relationship. A recent study from BigCommerce indicates that some relationships end before they even get started. The study found 77% of online buyers abandon their purchase if the shipping cost and services are deemed unsatisfactory, and 87% will choose a retailer specifically because free shipping is offered.

Read More

3 Reasons Why Divante is The Solution To Your eCommerce Software Needs

Article | March 3, 2020

If you own a business, then hiring an eCommerce Software house is vital and will help you to gain a competitive advantage. An excellent eCommerce software house will provide you with software solutions that help you to manage your online business. All around the world, businesses are utilizing eCommerce software to help them with their online stores. Developing an eCommerce platform is not easy and the process is more detailed and elaborate than building a website. However, once eCommerce software has been set-up, users will find it easier to navigate through the platform perform simple tasks such as buying and selling. eCommerce software can help you with: Organizing your online inventory

Read More

Spotlight

CTC + CDW Merchants

The Christine Taylor Collection and CDW Merchants are joining forces to provide even better products and services to the retail visual merchandising industry. The two companies are uniting as one under the CTC brand led by Christine Taylor as a division of Bunzl Retail – a single-source global retail solutions provider.

Events