This 4/20, make sure you have a thorough understanding of your store's customer base to make your holiday promotions as successful as possible. We use the Recency, Frequency, Monetary Value segmentation model (RFM) to create lists for your most loyal customers aka 'Champions', new customers, hibernating customers, and other segment categories. Using these segment categories you can tailor your 4/20 promotions to amplify your holiday sales.
Come learn from our analysts as they pair this RFM model with long-term sales and discounting trends from mature markets to show you what the week leading up to 4/20 means for cannabis retailers.
For more information about how you can better prepare for 4/20, read our industry report.
1. What would you suggest for advertising avenues to obtain new clients for 4/20? How has everyone seen a return for things like receipt ads at grocery stores etc.?
As mentioned during the presentation, Retailer Premium can help you evaluate these various avenues through our Referral Source dashboards (contingent upon you collecting a "referral source" data point). Anecdotally, we hear people leaning into the marketing channels that will most influence their targeted demographic (TikTok for Gen Z customers, Instagram to recruit Millennial customers etc.).
2. Retail cannabis in Canada has to buy from the province. Do your stats give us the info from the province?
Our market data originates from retailers' point-of-sale data, but Headset's market projections are corroborated by provincial data.
3. Any integration with Alpine IQ?
We currently do not support an integration with Alpine IQ, although customer segments can still be used if they allow for external data imports (via .csv usually).
4. Do you have any data on 4/20 for Ontario (Canada)? How does the data/sales shown differ for Ontario?
It differs by quite a bit. Ontario took cannabis off the list of essential businesses on April 4th, and sales were limited to the online, government-owned Ontario Cannabis Store. Thus 4/20 was different from most US markets, which kept doors open. In ON, sales decreased across the board (except within the Concentrates category).
5. Do you have any data on non-cannabis products (for example, hoodies, t-shirts, bongs, grinders etc.)?
Headset does not track market-level sales for non-cannabis products.
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