Innovations That Disrupt The Cannabis Sales Industry
As with most industries today, cannabis sales could benefit from all the conveniences that modern technology offers.
Many brick and mortar dispensaries in the United States have kept a traditional setup over the years, deciding to keep upgrades to a minimum over the years.
And while this approach may have worked a few years ago, the cannabis industry recent growth may prove it difficult for many stores to operate efficiently.
That is why we take a look at top tech innovations that could help the cannabis retail industry respond to demands of modern consumers.
Automated technologies that other retail firms utilize in their day-to-day can provide offer immense benefit for dispensaries.
In recent years companies have depended on artificial intelligence to manage sales, CRM applications, logistics, delivery, payments and payment services among many others.
Thanks to advanced software, a store’s inventory and orders can be managed in one hub. It can dispense reports in an instant. With just a couple of screen taps, retailers can check on inventories, profile their customers and access other relevant sales reports.
Being able to make immediate informed decisions on the fly is a necessity in modern businesses and it’s high time cannabis retailers are afforded this luxury.
For years now, retail giants in different industries have been increasing their revenue while cutting their overhead using the “click-and collect” model of selling their goods.
The technology, which lets people to purchase or select items online and pick them up in-store or at a centralized collection point, is now widely used by e-commerce and physical stores such as Amazon, Walmart, and Target among others.
Current check-out-free technologies allow the entire shopping experience to be automated, offering better experience for customers.
Bringing such an innovation to the cannabis sector will not only address current logistical limitations of dispensaries, but also the growing demand for cannabis.
The cannabis market is a constantly evolving industry, with shifts in regulations and customer behaviour shifting quite often. That is why dispensaries must be equipped with the tools that can quickly adapt to changes.
This is a common feature now with modern hubs that implement regular updates for their software and hardware. With new features being added, solutions are offered as soon as problems arise. Updates can also address issues before they even begin.
After taking notice of how the industry is lagging behind in innovation, cannabis-oriented tech firm QwikLeaf decided to develop a wide range of solutions under one powerful platform.
The startup is bringing to the market the 1st click-and collect platform in the world via QwikCollect. Its “Amazon-like” lockers will not only reduce the long lines at the stores but also allow retailers to increase sales volume.
QwikCloud, the proprietary software which runs the entire QwikCollect platform, offers tons of features that focus on customer service, sales management, and inventory monitoring among many others.
Some retailers may convert into entirely “QwikCollect only” stores, while others can simply incorporate the platform into an existing system and still allow for customers to check-out as they had done so before. QwikLeaf’s QwikCollect platform is that flexible.
Now, anyone can buy a piece of cannabis tech
QwikLeaf is currently hosting its Regulation CF offering through cannabis funding portal Fundanna.com, where it has raised over $110,000 in pledges from 192 investors.
The beauty of taking the crowdfunding route is that it has both the retailers and the customers in mind in developing what would be a game-changer in cannabis sales.
For customers, it’s about offering them a fast and secure method for buying and picking up cannabis. For retailers, it’s about lowering overhead while adding revenue.
Michigan and California will be the first ones to experience the world’s first “click-and-collect” cannabis lockers when QwikLeaf launches the system in early 2020. Shortly after, the startup plans to expand its platform to the remainder of the country abroad.
As part of its vertical integration strategy the company recently partnered with Green Retail Ventures, to initially open 10 QwikLeaf recreational stores across the state of Michigan. All stores will be equipped with the QwikCollect technology.