Introduction
For cannabis retailers, managing product pricing can be a daunting task. With so many products and variations to choose from, it can be difficult to know where to start. This is where the BLAZE product pricing templates come in. Product pricing templates have become increasingly popular in the cannabis industry, and for good reason. In this article, we will discuss the top benefits of using product pricing templates for cannabis retailers.
Increased Efficiency
One of the most significant benefits of using product pricing templates is the increased efficiency they provide. When using templates, retailers can set prices for multiple products at once, rather than having to input prices for each product individually. This can save retailers a significant amount of time, allowing them to focus on other aspects of their business, such as customer service and marketing.
Cannabis retailers will often want to create pricing tiers for specific brands or categories to streamline inventory management. BLAZE provides retailers with the ability to customize the naming of your pricing templates to ensure you maintain organization.
Consistency in Pricing
Another benefit of using product pricing templates is that they help ensure consistency in pricing. By using templates, retailers can set standardized pricing for their products, making it easier to keep track of prices and promote transparency with customers. This consistency can also help build trust and loyalty with customers, as they know they can rely on the retailer for fair and consistent pricing.
It’s important to understand that pricing templates need to reflect the same unit of measurement as the products assigned the template. BLAZE provides retailers the option of using grams or units as a form of measurement. Once you’ve selected a unit of measurement, enter the pricing for each tier and enable it so it will be reflected at checkout.
Then it’s easy to simply add products to your product pricing template. All templates will appear that associate to the product based on weight per unit. Just click the drop down and select the template you want to assign the product to and save your changes.
Mix and Match Pricing
What’s nice about the product pricing templates in BLAZE, is that you can enable mix and match so customers can purchase a variety of products in the same pricing tier.
For example, say you wanted to have Mix and Match pricing enabled for OG Kush and Blue Dream. The pricing for both products MUST be the same across all ranges using Pricing Templates (see below) to have Mix & Match pricing applied.
- 1 gram for $15
- 1/8th for $45
- 1/4th for $80
- 1/2 OZ for $155
- 1 OZ for $300
With this example, when an 1/8th of Blue Dream and an 1/8th of OG Kush are added to the cart, the system will apply the Mix and Match price so each 1/8th price is $40 dollars instead of the standard $45 dollars. The new cart total will be $80 dollars; which is the 1/4th pricing. This saves your sales staff time during the checkout process and build customer loyalty
Improved Profit Margins
Finally, using product pricing templates can help cannabis retailers improve their profit margins. By setting pricing that takes into account factors such as product cost, demand, and competition, retailers can ensure they are maximizing their profits on each sale. Additionally, templates can help retailers identify areas where prices may be too low or too high, allowing them to adjust pricing accordingly and optimize their profitability.
This feature is standard in BLAZE Retail and is aimed at optimizing inventory management so dispensaries and delivery services can utilize pricing templates across all of their sales channels. These templates do transfer to third-party integrations for e-commerce but are innate to our BLAZE ECOM™ product which empowers retailers to grow their brand.
Conclusion
In conclusion, product pricing templates offer numerous benefits for cannabis retailers. They can help increase efficiency, ensure consistency in pricing, build customer loyalty, and improve profit margins. By using templates, retailers can save time, build trust with consumers, and optimize their profitability. As the cannabis industry continues to grow and evolve, product pricing templates are becoming an increasingly essential tool for retailers looking to stay competitive and successful.
