Three best practices to help drive revenues and stay ahead of the curve.
As the North American cannabis industry becomes more and more crowded, retailers are suddenly faced with flat or declining revenues. That’s bad news for owners, but it’s not necessarily the end of the world. Creative entrepreneurs are constantly looking for new ways to generate income, and those ideas are often hidden in plain sight in other retail industries.
Let’s look at three common retail practices that have yet to embed themselves in the DNA of the cannabis market.
Shelf space
One of the best ways to supplement sales is by charging fees for premium placement of certain products and brands on store shelves. Welcome to the world of slotting fees.