Merchandise can boost brand loyalty

The process of building a brand can be exciting, but also extremely complex.  Our market is full of competition and the need to stand apart from the crowd can be tough.  Some cannabis retailers have seized the love of merchandise as a way to help them build and retain a brand and both acquire new customers and retain current patients.  Aside from the obvious tenants of great service and quality products, merchandise can provide consumers with another avenue to tout their tastes and loyalty.  Merchandise can help contribute to these efforts.

Terrapin Station is a multi-state vertical, who has used their trademark “T” logo to build their reputation and awareness on social media and in the communities in which they operate.  But merchandise doesn’t have to simply be available for purchase, branded items are utilized at conferences and trade shows, for customer rewards, to promote events, the list could continue for eons.  Social media allows us to promote via polls, contests, shares, and likes – and never discount the power of conversation starters.  In our home state of Missouri, it will soon be considered common to see cannabis brands on apparel in markets where there are cannabis brands.

   

What are the best options for merchandise choices?  That depends on a number of factors, but to give an example – apparel is best utilized when it fits the climate and seasonal temperatures in the market where the brand is located.  Hawaii dispensaries are likely not going to find much return on investment with knit beanies, but rash guards and tanks easily fit the bill for utility of their consumers.

The most important takeaway for retailers is to understand their customers/patients and to ensure they have a compelling brand that people are proud to represent and can inspire the fear of missing out if they aren’t promoting their lifestyle brands of a great logo and company.