MJBiz Buyers Guide: Retail Strategy 23 - 4
MJBizDaily Buyers Guide Retail Strategy
mjbizdaily.com
Consumers are looking for the best selection, price and experience. Photo courtesy of Cookies
DEVELOPING INVENTORY STRATEGY
AND CONSUMER PROFILES
Retail businesses are the consumer-facing sector of the cannabis industry.
The MJBiz Factbook estimates that cannabis retail sales in the United States will surpass $50 billion
by 2026, meaning these operations are ripe for long-term profitability, if managed properly.
To achieve success, retail executives must master inventory management to ensure that products
on the shelves are aligned with consumer demand.
" Establishing a consistent presence in retail can be a difficult feat, " says Frank Perullo, interim
co-CEO, president and co-founder of New York-based multistate operator Ascend Wellness
Holdings. " Because many cannabis markets are still in competition with the illicit market, legal
retailers need to ensure they are offering consumers the best prices, the best selection and the
best customer experience. "
Perullo adds, " An elite retailer should be stocked with a well-curated menu that includes the best
brands from around the industry, as well as a strong selection of in-house brands. "
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MJBiz Buyers Guide: Retail Strategy 23
Table of Contents for the Digital Edition of MJBiz Buyers Guide: Retail Strategy 23
MJBiz Buyers Guide: Retail Strategy 23 - 1
MJBiz Buyers Guide: Retail Strategy 23 - 2
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