The vape/ CBD industry continues to thrive despite the impact of COVID-19. Research has shown that the vape/CBD market will take up $28.05 billion by 2027. How can CBD store owners keep up with the competition? One of the most common answers is implementing good technology like an omnichannel POS system. This article will analyze the 4 omnichannel CBD stores businesses when implementing POS and possible solutions to these problems.
Omnichannel shopping allows customers to move seamlessly between different touchpoints. Say a customer has purchased an item online and chooses to pick it up in-store. To serve this client, store owners have to stay updated about this transaction. In this situation, it is important to have an omnichannel POS that can synchronize the data between the actual inventory levels and what is displayed in the system.
Many CBD companies have failed to do so, which resulted in information disparities between different selling platforms. When customers come to the physical store to pick items up, they realize that the items are temporarily out of stock in that location. This omnichannel challenge for CBD shops, however, can be solved with the POS system having real-time synchronization. Data can thus be updated whenever there is a change in the inventory level.
Restrictions on digital platforms
The CBD industry has very distinctive operation rules. In many places, the consumption of CBD by children or adolescents is forbidden. This leads to several challenges for omnichannel CBD businesses when implementing POS on digital platforms. Because the Internet is open to almost everyone, having an eCommerce CBD store will put you into some problems with age restrictions.
Whether it is a product listing or a post on social media, you should always comply with the local rules about CBD. In eCommerce, some POS systems on the market nowadays can support you in this, with the age restriction filter in the checkout page or physical checkout counter.
Overstocking or understocking
Products in the omnichannel model are spread across different touchpoints. Customers can buy them via online platforms or directly in brick-and-mortar stores. Therefore, it is easy to underestimate or overestimate stocks if you don’t understand your business and customers thoroughly. This task becomes even more difficult when you have more than one online and offline shop.
An omnichannel POS for CBD stores can help you with these challenges by providing a centralized monitoring system. Some POS systems with powerful inventory management tools, such as ConnectPOS. This POS company offers excellent features for stocktakes, multi-warehouse management, auto-generated sales reports, and many more. These tools can effectively give you an overview of your sales trend and inventory levels, so that you can make better restock decisions.
Monitoring different product variants
If you have certain knowledge about CBD, you might already know that the products can come with different attributes, including flavors, coils, origins, etc. Sometimes, the price for each variant can be different from the others. This is why CBD omnichannel businesses, even with a decent POS, often face many challenges due to such diversity. As a result, staff members can be unable to provide customers with correct information, or digital buyers can struggle to select and pay for the desired items.
Make sure to implement an omnichannel CBD POS with configurable product features. You can easily add, remove or edit each product attribute and filter them whenever needed. Online customers can also benefit from this and receive a more user-friendly browsing experience.
When implementing POS, CBD businesses have to be prepared for the various omnichannel challenges. If you are still looking for a powerful POS for your CBD shop, you can consider ConnectPOS with specialized features for this industry. Contact our team for more information!