Retailers of every stripe are scrambling to capture some of the $1.3 trillion Americans are expected to spend on gifts during the year-end holiday season. And although cannabis products may not top this year’s lists of most popular gifts, there is an angle every retail cannabis business should pursue: gift cards.
Whether you’re a retail marijuana dispensary, an online CBD retailer, or any other seller of cannabis and related products, gift cards are a great way to boost revenues and cash flow. In fact, every gift card you sell is like an interest-free loan from a loyal customer.
- Here are 3 additional reasons why selling gift cards is good business.
Gift cards are the most desired gift this time of year, and this has been true consistently, year after year, according to consumer surveys.
- When someone gives your gift cards to a friend or relative, the implicit message is that yours is a business that can be trusted. It’s the best kind of advertising you could ask for, and it’s free.
- Surveys show that when someone redeems a gift card, they tend to spend more than the face amount on the card – about $60 more, on average.
Paybotic can help your marijuana dispensary tap into the gift card market and capture more consumer spend. Click here to start the conversation.