Anyone who was born in the years 1980 through 2000 are called “Millennial.” This generation is said to have shaped the existing economy since they are usually into social media connections and entrepreneurial aspirations. As time goes by, they will continue to have an effect on markets and industries. If you are one of those cannabis dispensary owners that have not seen the potential that the Millennials provide, then you might be left behind.
It is best that you make adjustments to your business and marketing plans so that you can include Millennials since they make up the largest users of cannabis. In fact, there is about 39% of this group that uses some form of cannabis product on a daily basis and they make up 50% of all medical cannabis users. You can expect most of them to spend as much as one hundred dollars each week for cannabis products.
This demographic is large and have a willingness to spend their money and for that reason, they have the power to shape the marketing of product brands. However, cannabis dispensary owners have to know what this generation is looking for as it relates to the cannabis products and brands. Millennials will spend more on cannabis products than on basic groceries. They prefer quality more than quantity. They want the companies that they purchase from to prove that their products are of the best quality. Cannabis dispensary owners that sell cannabis products would do themselves justice to serve these millennials well so that it establishes a sense of customer loyalty in the form of excellent quality assurance.
Most millennials are Internet savvy and use their mobile devices to do almost everything. In many cases, their smartphones are the conduit for researching reviews about various products and businesses. For the cannabis dispensary owners, it should be apparent where the millennials turn to get their information and so it is important for cannabis dispensary owners to set up shop online and strive for a strong online presence. This is one of the ideal ways to reach this generation. It is best to have the major social media accounts such as Instagram, Facebook and Twitter. When you have good social interaction with your target audience, it not only showcases your brand, but also allows them to trust you.
Cannabis dispensary owners should place emphasis on product selection and variety. Millennials love that. They would prefer to be able to choose from various products rather than stick to one product all of the time. So as a dispensary owner, you should stock up on concentrates, flowers, edibles, beauty products, health products, tinctures and topical creams. Many millennials will go for unique product such as cannabis gummy bears and even brownies. So be sure to have a large inventory of cannabis products.
The Retail Aspect
The retail market sector in the cannabis industry is currently booming as several states have been approved legal recreational and medical cannabis. Millennials are changing the way that the retail industry is being directed. They are looking for ways to have unique experiences and maintain memories. For this reason, it is important for companies to bring the most modern retail cannabis experience to the millennial. How can this be done? In some states, cannabis dispensary owners should consider designing their retail space in an inviting and unforgettable way to welcome millennials so that their experience will make them want to return. Create a special vibe where millennials can feel as if they belong. Make sure the staff is knowledgeable, well trained, courteous and friendly.