Part II: 3 Tips to Reduce per unit Cost of Cannabis Retail Displays
Part I of this series introduced 4 Tips to Identify the Desired Longevity of Cannabis Product Displays. That post provided: desired brand experience, your buyers' likelihood to suffer brand fatigue, the look and feel for your display, and a per unit budget range.
Now, it's time to focus on getting your desired display at a feasible per unit cost. In Part II of this series on creating memorable cannabis displays, we focus on helping brand managers drive revenue with an effective in-store presence. Check out these 3 Tips to Reduce Per Unit Cost of Cannabis Retail Displays. InStore Design Display (IDD) has worked with cannabis brands since early in the industry’s state by state legalization, and we've helped brands maximize their displays to fit their budgets.
Tip #1: Identify the Quantity of First Production Run
When you begin the design process, one of the first questions your retail display design-build firm will ask is, "how many of these displays do you need?" When the display in question is for a new product or even a part of a brand launch, the answer to that question is frequently a low quantity (25-50). It's common for brands to have commitments from a handful of dispensaries to carry their product once it launches.
However, in addition to the actual number, you must share the projected number with your design firm. Due to the manufacturing efficiencies associated with higher quantity orders, the per-unit cost can drop dramatically. You can then determine if it is worth the effort to secure more commitments from brick-and-mortar locations with this knowledge.
Tip #2: Be Flexible
The available footprint for your displays will vary from dispensary to dispensary. Because of this, it is essential to design displays to be modular. A single display can have the ability to accommodate multiple different space types using various components by incorporating modularity into the design. It is crucial to make sure you have brand placement throughout the display's design to ensure that your brand identity isn't lost even when components get removed to fit a space better.
As an example, the counter-top display featured below showcases several different products at once. However, it's design offers several different configurations. This design thinking is crucial if the storefront doesn't have the real estate to support the display in its entirety. A thoughtful design incorporates components that can serve as stand-alone product displays.
Tip #3: Leverage Your Field Sales Team
If you are launching a brand or a product, you likely have team members working on getting your products on dispensary shelves. As they promote your brand and share the benefits of your products, advise them to share how your brand will elevate their customers' overall in-store experience.
For instance, have your sales team ask retailers for their feedback on display and signage options by providing sketches and renderings of display options. This collaboration will allow them to provide their input about which variation would be a good fit for their environment.
When done correctly, the in-store experience becomes a part of the sales team's conversation and is ultimately a differentiator for your brand.
Whether you're building an in-store experience for a new product or have been in the industry for a while, seeing return on investment more quickly is a win. That is the ultimate goal of reducing per unit price — so you start to see ROI faster. In Parts I and II of this series, you’ve learned how to determine display longevity and reduce cost. Part III will highlight how to hone in on the desired functionality of your cannabis and CBD product displays.