MJBizMag August 2020 - 46

How to Compete With the Illicit Market
VARIETY & SOURCE RELIABILITY
Another appeal that legal
businesses can leverage over
illegal operators is the variety
of products available.
If a customer finds
something he or she really
likes-a certain strain that
helped them with a specific
condition, for example-that
person can feel confident
the item will be available on
the next visit. Or, at the very
least, that consumer can
request it. In the underground
market, customers have a
more limited selection that
has little consistency, and
special requests are harder
to fulfill.
" It's a stability of the
Retail customers appreciate
the stability of knowing their
favorite products will be
available each time they visit.
Courtesy of Charlotte's Web
Lopez at TGS agreed.
source, " explained Debby
Goldsberry, CEO of Magnolia
Wellness in Oakland,
California.
Legal operators can also use pointCarrying
a wide variety of products is a good way
to keep consumers returning to try new items.
Photo Courtesy of Magnolia Wellness
" You want to take a
scientific approach to
consumer research. We
are constantly doing
surveys and getting
feedback and then giving
that feedback to store
(general managers) in
weekly calls. We see
of-sale tracking systems to follow what
individual customers like and then give them
personalized product recommendations.
" We can discuss what worked and what
didn't work ... so that when you come in, we've
developed this feedback loop about what
you like and don't like and we know what to
recommend, " Goldsberry said.
consumer reviews that come in every day
from the previous day. That gives me a lot of
insight, " Lopez said.
Goldsberry added: " The ability to do
consumer education and product education
and the stability of the supply. That is a big
bonus of the regulated market, and that's
something illicit market folks can't provide
as much. "
44 Marijuana Business Magazine | August 2020

MJBizMag August 2020

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