For Retail Marketing In
The Cannabis Industry
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DISCOUNT OFFER DOS
DO #1: Introducing New Brands and Products at a Discount
Offering a small discount on new products helps drive awareness and encourages customers to try them. It also builds brand recognition for new items in your store.
How It Should Work
When launching a new product, a 10% discount can help boost sales and get customer feedback faster. Highlighting these new items as part of a limited-time offer makes them more attractive and increases their chances of success.
DO #2: Pricing Your Products For Expected Discounts
Price products strategically to accommodate for discounts, especially for higher-end items that may need a deeper price cut to move.
How It Should Work
If certain products are likely to be harder to sell, price them slightly higher than MSRP to allow for a discount. For example, a $22 product can be discounted by $5, making it more appealing without affecting your margins.
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