Cannabis dispensaries get the munchies with POS-integrated menu boards
Cannabis dispensaries are rapidly generating profits, with the global market reaching more than $40 billion. In the U.S., marijuana is legal for recreational use in nine states and for medical purposes in 29. As cannabis sales continue to climb, dispensaries are busier than ever serving customers, and they are looking for ways to provide information to customers quickly and accurately.
Many companies are already using digital menu boards from a variety of vendors. Eyechronic, for example, provides an Eyechronic TV solution which allows dispensaries to offer educational videos to inform users of their products and up sell, all while gathering key consumer analytics. Another company, Mvix has also developed a content management solution, which integrates with dispensaries' POS.
The goal of the solution is to offer, a "simple integration for cannabis dispensaries," Mansukh Saini, senior solutions consultant at Mvix, told Digital Signage Today.
The system tracks current supply levels of certain products and automatically updates the menu boards based on availability. This ensures menu board accuracy and removes the need for employees to update information twice.
Mvix initially worked with MJ Freeway, a seed-to-sale tracking company.
"Technology solutions should deliver measurable return on investment. Through our MJ platform integration with Mvix, retailers realize ROI in both labor savings and an improved in-store experience. This is exactly the type of smart, scalable solution we love to bring to cannabis businesses," Jeannette Ward, vice president of global marketing and communications at MJ Freeway, said in a press release.
The solution can in theory work with any POS system, according to Saini. Mvix's CMS also helps cannabis dispensaries reduce the strain on employees by giving customer's key information. Customers can just look at the display rather than asking employees if a product is in stock.
The CMS can also provide additional information about the product and the store.
"They can display if they are hiring, or put a social media feed on top of the board," Saini said. "They can also provide information on the strain of the product, how to use it and its cost."
One dispensary is using Mvix's CMS but no dispensaries to date are using the integrated POS feature.
Dispensaries are using more than just menu boards, however, to improve the customer experience. Saini pointed out some are deploying interactive kiosks. Customers use the touchscreen kiosks to analyze various products and get information on their potency, cost and how to use them.
A previous story also pointed out that marijuana dispensaries are using displays to feature entertaining images or videos such as customer generated content for special events.
The legal cannabis market is still in its infancy in the U.S., but digital signage vendors clearly already have the munchies for the business, and will continue to innovate.
Image via Mvix
Bradley Cooper is a Technology Editor for DigitalSignageToday.com. His background is in information technology, advertising, and writing.www