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420 with CNW – How Marijuana Businesses are Attracting, Retaining Older Customers Amidst the Pandemic

Marijuana retailers are implementing extra measures to attract and keep senior customers during this pandemic. Dispensaries that are senior-friendly revealed that they attracted more consumers by:

  1. Building lasting relationships with elderly people and their communities
  2. Training their employees to be more patient and helpful with older shoppers
  3. Offering special benefits to seniors such as discounts and seniors’ hours
  4. Adjusting their approach, taking into consideration the coronavirus pandemic

According to a report that was published in the Annals of Internal Medicine journal, marijuana use by Americans between ages 65-69 grew between 2016 and 2018, with women’s use increasing to 3.8% from 2.1% and men’s cannabis use growing to 8.2% from 4.3%.

Point of sales data from Colorado, California, Oregon, Nevada and Washington showed that between the start of this year and August, there was a decline of 14% in the transaction volume at adult-use marijuana stores for baby boomers aged between 56 and 74.

However, boomers were also spending more money on each trip to the marijuana store, which balanced that out. In the same time frame, the average basket size grew by 14%, moving to $65.27 from $56.18.

So, how can stores attract more senior consumers?

Building a relationship with your senior community is a good way to begin. This helps establish rapport and also allows you learn and offer more knowledge about your products. We are however in a global pandemic, so you might want to put a pin in that.

Additionally, many older consumers aren’t just going to try a new product simply because of the hype. So you need to educate them on the benefits of a product or what the product entails and also answer any questions that they may have. This will help you gain their trust and also give them a sense of comfort.

If you are operating in a physical location, you need to train your staff to be more accommodating of the older consumers and help them explore their options but not to the extent of forcing their individual opinions or preferences down their throats.

Additionally, not profiling your older customers as automatically old people who will move slow and talk slow etc. can go a long way in making them feel more welcome.

Since we are in the midst of a pandemic and we know that older people are more likely to contract COVID-19, you should ensure that extra precautionary measures are taken to ensure the safety of your older consumer population. You can do this by designating a shopping time for seniors alone or offering online consultations and door to door services.

It wouldn’t be surprising to find that seasoned cannabis companies like Sugarmade, Inc. (OTCQB: SGMD) have come up with special interventions to serve, in a better way, every segment of the population during this pandemic.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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