This article will walk you through some basic information about excise tax requirements for Arizona dispensaries and how to easily fill out your MET-1 Return with Treez.
As the holidays approach, so does the 2nd most popular day of the year to buy cannabis products, also known as Green Wednesday. The day before Thanksgiving, or Green Wednesday, has traditionally been the second-highest dispensary sales day of the year besides 4/20.
Last year, Green Market Report published an average of 80% increase in daily dispensary sales in 2020 on Green Wednesday. The following Black Friday also saw a 75% increase in sales. This behavior could be due to preparation for less-than-sober family get-togethers, changes in the weather, or other reasons. No matter the cause, it's a clear opportunity for retail cannabis operations to seize and boost end-of-year sales.
This article will share features in SellTreez and AskTreez that you can use this holiday season to boost sales and streamline operations for the best possible customer experience.
As the cannabis industry matures, increased competition requires increased sophistication in your operation. There are four typical phases in any industry's lifecycle: introduction, growth, maturity, and decline. Although this life cycle varies market by market, the cannabis industry is beginning to move from the growth to the maturity phase. Maturity in the cannabis industry leads with one major factor, consolidation through mergers and acquisitions. As businesses consolidate across the supply chain, dispensaries that position themselves to scale will win in the end.
TreezPay One-Click Digital Payments Now Supports Refunds
It can be frustrating when a customer prepays for their order and then doesn’t pick it up. Maybe your store policies don’t let you hold it overnight, or maybe you’d just rather not. Instead of messing around with refunds to cash or rewards points, you’re now able to process full refunds directly back to the customer’s bank account, whenever it makes sense for your business.
Seamlessly Connect With Your Data
AskTreez is full of awesome business insights, inventory data, performance metrics, plus more — and now it’s only a click away! Just tap the ‘Analytics’ tab in SellTreez to be whisked away to AskTreez, where you can view your most important key performance indicator dashboards.
Curate eCommerce Collections
More customers are shopping online, making your Treez eCommerce menu that much more important. To help you put your best foot forward, we’ve introduced Product Collections — a feature that lets you group and display different products together online. Whether it’s a high-potency club, featured in-house products, quick add-ons, or anything in between, product collections have got you covered.
Say 'Goodbye' to Inventory Spreadsheets
In more traditional retail verticals, inventory forecasting is largely automated, but the cannabis industry has been left behind. AskTreez changes that by surfacing real-time sales velocity & stock levels, identifying winning & losing products via ABC/XYZ retail analysis, and arming you with reordering projections & timelines — all from the comfort of single or multi-store views.
Search Smarter, Shop Harder
More customers are heading online to browse your menu and place their orders. With this in mind, we’ve beefed up Treez eCommerce by enhancing search & filtering, introducing dynamic URLs (hello, marketing!), and keeping customers safe with touchless One-Click Mobile Payments.
COVID-19 has drastically changed the way we live and work day-to-day. As essential businesses, cannabis dispensaries have needed to adapt quickly to these changes, both regulatory and sanitization-wise, to keep their doors open and staff and patients safe. But as open-ended social distancing practices take root, and an air of skepticism around in-person contact grows, operators need to be more agile than ever when it comes to optimizing their businesses to thrive within our new state of normal.
Here at Treez, we're proud to work with dispensaries that put compliance and inventory accuracy at the top of their priorities list. Because much like us, our clients understand that compliance is the foundation of being a top-tier operator, and there's no way to the top without it. Which is why we challenge every operator to ask themselves, "Why is it important to own my shop's Metrc compliance?"
In today's cannabis market, there's an overload of communication between retailers and brands around maintaining the buyer-brand relationship. In most cases, this overload is caused by a lack of real-time data being exchanged, making it so that both parties need to be in a constant state of requesting and sharing inventory level data to avoid stockouts.
In most other markets, retailers and brands are able to develop co-beneficial partnerships based on their ability to share information. Sephora, the world's leading specialty beauty retailer, shares point-of-sale and inventory details with supplier brands, allowing for vendor-managed inventory partnerships that save time and generate more profitability. Empowered by data, brands can control costs, grow market share, and increase sales at an influential retailer like Sephora. In the cannabis market today, there is an overload of communication around maintaining the buyer-brand relationship, but very little exchange of real-time data between retailers and brands.
When it comes to brand recognition, the cannabis industry is still in its infancy. The market is currently flooded with brands and products and consumers are presented with something new every time they shop, resulting in an overwhelming shopping experience, making cannabis product branding and retail synergy that much more important. Customers tend to seek cohesive experiences and don't want to be bombarded or confused by having too many brand choices that ultimately do not appeal to them.
If you're looking to optimize your retail business, having access to real-time data is not just convenient, it's essential. You need to be able to reference consistent, comparative reporting in order to know what parts of the business are running smoothly and what areas require attention. This is where our cannabis dispensary inventory management system comes into play.
We are all about integration here at Treez. Integrating all your tools into one system makes your business run smoothly since all programs are managed under one roof. Our newest integration is all about payments. Treez Payments gives you the ability to process all transactions within the Treez platform instead of through a third-party application. This is huge! And we'll tell you why.
In recent weeks, the emergence of the novel coronavirus has seemingly touched all aspects of everyday life for people across the globe. Health officials at every level are taking unprecedented steps to slow the spread of the virus and protect the public from COVID-19.
More than 20 years after California became the first state to legalize the sale of medical marijuana, it has blossomed into the largest legal cannabis market in the world. And as of January 1, 2020, the Golden State has added yet another 'first' to its ever-growing list of accolades: the first state in the country with a comprehensive data policy to protect consumers' personal information (PI).
If you're a California cannabis business operator, Metrc needs to be top of mind. So as you wait for your provisional/annual license to be awarded, you might be wondering "what does going live on Metrc mean for me?”
Over the past few months, California's Bureau of Cannabis Control (BCC) has been issuing annual licenses to industry operators throughout the supply chain.
The key to maintaining a healthy, successful marijuana dispensary is not only knowing what questions you need to answer about your business but also understanding how to use those results to drive your profitability and productivity forward.