The legalization of cannabis is opening doors for the industry to enter e-commerce for the first time. As recently as a few months ago, cannabis sales happened primarily at physical locations in cities across the country.
This placed limitations on both business owners and consumers interested in the business of cannabis. Strict regulations limited a business owner’s ability to market and deliver using online channels.
Now, all that’s changing. The cannabis industry is constantly evolving as business owners strive to streamline business practices. A fresh indirect-to-consumer approach is striving to break barriers.
Don’t Recreate the Wheel
Platforms are in development to improve back-end processes for business owners while promoting sales at a local level. Integrating e-commerce into your sales options for cannabis involves:
- Setting up a website
- Establishing an online inventory method
- Accepting orders around the clock
- Updating your site regularly to reflect changes
E-commerce cannabis platforms allow you to pay someone else to do the legwork for you. These platforms use a standard template that allows you to plug in key details for your local cannabis business. You can also accept payments online and facilitate shipping to your customers while ensuring you are following all regulations.
Key Benefits of Establishing an E-commerce Cannabis Business
Flexibility. Your customers order everything else online. Then, why not cannabis? Don’t lose customers to other dispensaries that offer more flexible ordering options online. An online cannabis e-commerce storefront allows your customers to shop anytime without needing to leave home.
No Pressure. If you have customers who are new to cannabis, they may be intimidated. An online cannabis store can allow these potential customers to learn more about their options without the pressure of being face-to-face right away. You can set up easy contact forms that allow them to contact you with any questions.
Loyalty. Your customers are more likely to continue to come back and order again and again after they establish an account with you. Consider creating a rewards system or offering loyalty benefits. Many e-commerce platforms have built-in rewards options that can be integrated into your business.
Expanded customer base. Having a cannabis distributors’ e-commerce business gives potential customers the chance to discover what you have to offer. You may have people who drive by your physical location every day without giving it a second glance, or maybe, they do. But they’ll never garner the courage to stop in and shop. With an online cannabis storefront, you attract a completely new demographic of potential customers.
Peace of mind. People love shopping online because they can read customer reviews, compare similar products, and access more information and so feel like they are making an informed decision. Your e-commerce may also offer customers the chance to save time and money over driving to your physical location to make a purchase.
Bespoke Financial Can Help You Get Started
Flexible financing means that you can get your cannabis business off the ground on your terms.
Bespoke Financial is proud to be the first licensed commercial lender focusing on the development of the cannabis industry. Finance aspects of your business like inventory, purchase money, or invoicing.
