The Benzinga California Cannabis Market Spotlight conference in Los Angeles was a huge success, with industry experts sharing their insights and vision for the future of cannabis retail. One key takeaway from the event was the importance of keeping things simple when it comes to optimizing technology in the retail space.
Matt Shterenberg, co-founder of Deeproots Partners, emphasized the need for retailers to streamline their tech stack and focus on solutions that align with their business goals. With so many options available, it can be overwhelming for retailers to navigate the world of e-commerce, website development, and POS systems. Shterenberg’s approach is holistic, considering every aspect of the retail tech stack to ensure that retailers are maximizing their efficiency and profitability.
One of the key points Shterenberg made was the importance of direct customer acquisition. Instead of relying on third-party marketplaces for visibility, he encouraged retailers to capture traffic independently through SEO and digital marketing strategies. By owning customer data and lists, retailers can build loyalty and retain customers more effectively.
Shterenberg also highlighted the critical role of loyalty programs in customer retention. He advised retailers to choose simple and cost-effective solutions that align with their business objectives, cautioning against complex platforms that may not deliver additional value. By simplifying their tech stacks, businesses can achieve significant savings and sales increases.
In conclusion, Shterenberg’s message to retailers was clear: focus on simplicity, thoroughly vet tech partners, and strategically align technology with business goals. By ensuring that their tech stack is optimized for profitability, retailers can thrive in the competitive cannabis market.
For more groundbreaking discussions and networking opportunities, industry professionals are encouraged to attend the Benzinga Cannabis Capital Conference in Hollywood, Florida on April 16 and 17, 2024. This event promises to be a must-attend for anyone looking to stay ahead of the curve in the fast-paced world of cannabis retail.
