Retail technology and software continue to evolve, providing innovative solutions for various industries. In the cannabis industry, interactive merchandising is reaching new limits and exploring the depths of its connection with consumers.
With The Peak Beyond’s interactive merchandising stations, brands can provide direct-to-consumer education and product information. With our interactive retail technology, learn how your cannabis brand can stand out amidst a sea of MSOs.
Why Brand Merchandising Matters
Legal cannabis continues to make big waves and skyrocketing numbers as years go by. Last year, the global legal cannabis market reached a record-breaking $17.8 billion value, with a 25.3% expansion projected by the end of this year.
What’s more, the number of mergers and acquisitions of MSOs nearly doubled between 2020 and 2021. In what has suddenly become a billion-dollar industry, the quantity of large cannabis corporations and multi-state operators out there is overwhelming.
With a roaring list of MSOs across the country increasing availability and access to cannabis consumers, it is important to find creative and innovative ways for your brand to outshine the competition.
Brand merchandising matters because it is a way for brands to connect directly with consumers. This allows even the cannabis curious shoppers to direct the information being displayed, giving them a hands-on experience, instead of solely relying on the subjectivity of budtenders and staff.
Interactive merchandising and retail displays are designed to engage the customer deeper intothe product and overall brand while actively building brand awareness, loyalty and cannabis education. All the while, providing both the retailer and brand with consumer behavioral data that reports engage and sales - a true report on ROI at the point of purchase!
Innovative Interactive Technology for Retailers
Within the landscape of growing MSOs, advancements in retail technology are helping companies reach higher standards of retail strategy.
It’s important to consider how brands differentiate in retail environments and how they connect directly with their customers. This influences customer experiences, as well as overall retail sales.
Interactive shopping and merchandising have become an advanced way to further engage with consumers. Our innovative technology brings products out from behind the glass counters and gives customers a combined physical and digital way to shop. Ultimately making selling easier.
With The Peak Beyond’s interactive merchandising technology and retail stations, your brand can use digital assets on our interactive shopping platform to speak directly to customers.
Our interactive merchandising technology makes for a compliant and seamless dispensary customer experience while securing brand success.
In fact, our recent case study dives into how interactive merchandising and retail displays made an impact — not only on the dispensary customer experience — but also by yielding a higher selling rate for the featured products:
- The featured brand products sold at a rate 4.6x higher than those left unfeatured.
- When asked how the display impacts customer experience, 71.9% stated they were able to easily get the information needed.
- 50% of customers claimed it gave a better look into the brand.
- 84.4% of customers said that they were more likely to make a brand purchase after interacting with the display.
Our interactive merchandising displays and technology allow brands to advance their customer engagement and display their product and brand values in a more creative, innovative, and immersive way.
The Peak Beyond: Expanding Cannabis Retail
The future of cannabis retail lies in interactive merchandising. As consumers continue exploring cannabis, retailers are pushing the boundaries of interactive technology with branded merchandising displays.
The Peak Beyond’s Interactive Merchandising displays help elevate your cannabis brand and engage your consumers and audience with brand awareness, product education, and higher retail sales.
Build the Ideal Customer Journey!
Be sure to Visit Our Website to learn more about how The Peak Beyond can help you grow your brand’s ROI with our Smart Store solutions.