So, you’ve opened your smoke shop and have a great marketing strategy — why aren’t the profits rolling in? It could be the products you stock.
Coming up with a unique smoke shop inventory list is a key way that independent smoke shops stand out from generic stores. But where should you start?
Let us help. Here are some smoke shop inventory ideas that will get you noticed by more customers.
To state the obvious: there are a lot of smoke shops out there. As part of writing your business plan and doing market research, you might have seen other successful smoke shops in your area and thought, “I can do something similar.”
The truth is, by doing the same thing as an established competitor, you’re more likely to be forgotten. Instead, focus on establishing your niche. What are the products and services that only you offer?
Focus on the areas that help differentiate your store. For example: your smoke shop inventory list. While it’s important to offer staples like cigarettes and lighters, the addition of unique inventory elevates your business from being “just another smoke shop” to a destination for discerning smokers.
First things first: before you shake up your smoke shop inventory list, do some research. Look at other smoke shops in your area and around the country to get ideas. Make a list of what they offer and what they’re good at. That way you can be more strategic with your stock choices.
Next, review your inventory. Look at your most popular products to determine the types of items your customers already love. Use that as a baseline for new products that might be popular.
In addition to smoke shop staples, here are six key items to stock:
One in five Americans between the ages of 18 - 29 use vape products, making it a growing market among younger smokers. The main appeal of vapes compared to cigarettes and cigars is variety. There are hundreds of unique flavors and customers are eager to try out new ones.
This makes the sale of both disposable vapes and vaporizers a great source of recurring revenue.
Selling both disposable vapes and vaporizers is a reliable way to boost revenue among younger customers. One way to capitalize on this is to set up a customer loyalty program to encourage customers to return when they need refills.
If you choose to focus more on vapes, don’t forget your store layout and marketing. Customers are eager for recommendations on new flavors and old favorites, so make sure they are placed front and center.
Related Read: Can You Sell Vapes Online? 5 Tips for Mastering Vape E-Commerce
CBD stands for cannabidiol, which is derived from hemp. People use CBD in a variety of ways, from controlling anxiety to relieving sore muscles. If you offer CBD in your store, understanding why people are taking it is important for choosing products that will resonate with them.
Delta-8 is a popular form of CBD since it contains the psychoactive and intoxicating cannabinoid found in THC. In many states, Delta-8 is legal even when marijuana isn’t.
As we mentioned earlier, CBD is popular for its medicinal and recreational uses, potentially attracting a different type of customer than the average smoke shop. This is worth considering if you’re planning on expanding the number of CBD products in your store.
Also, note that selling CBD requires working with a high-risk payment processor.
Related Read: How To Open a CBD Store in 8 Steps
While some people love the high-tech, low-effort experience of vaping, many people prefer a slower, more personal experience. Offering loose tobacco and a variety of rolling papers gives customers a more hands-on way to smoke.
With so many varieties of papers out there, including hemp, pulp, rice, and flavored — make sure you don’t overwhelm customers. Be ready to offer recommendations for newbies. You could make the process even easier by using your point of sale (POS) system to create unique pairings of tobacco and rolling papers.
You could also further cater to the hand-rolled market by offering cones, an easy and more popular alternative to rolling paper.
There are many new and trending items out there like CBD and Kratom. But sometimes, old school is the way to go. Pipes cater to smokers who prefer a more high-class experience — people who like to sit and ponder.
Pipes are made from various materials and may require a bit of a learning curve to start using. This isn’t a bad thing. It gives you a chance to interact and connect with your customers.
Of course, pipes also require pipe tobacco With a healthy selection you can keep your pipe-smoking customers coming back for more.
If you choose to cater more to pipe smokers, take some time to think about the decor of your shop. While neon signs and minimalist glass cases might appeal to a vape smoker, the same may not be true of pipe smokers.
Kratom is a plant indigenous to Southeast Asia and has been used for pain relief and increased energy. Like CBD, there is a limited amount of research on the effects of kratom. That has not stopped it from gaining popularity, however. Some estimates put the number of kratom users in the U.S. between 10 and 15 million.
While kratom is booming in popularity, make sure you understand the regulations surrounding it. Of all of the items on this list, Kratom is perhaps the most niche, making it a must to understand how and why customers are using it.
If selling kratom appeals to you, make sure you do your research. See what other stores are doing to market kratom and make sure you invest in the right technology and marketing strategies to find success.
For many people, smoking isn’t just a habit — it’s a lifestyle. Selling t-shirts, pins, accessories, and other apparel is a great way for customers to show off their hobby. It’s also a great way to expand your inventory outside of smoking supplies alone.
Diversifying stock is a good idea for most retailers, especially those that cater to a niche customer base. For example, many liquor stores also sell bar snacks or even local meats and cheeses to shake things up.
Think of ways to partner with clothing sellers or other local businesses. Making these connections can help expand your smoke shop inventory and establish goodwill in the local business community.
As your inventory gets more diverse, make sure your POS system can handle the different tax rates and age verification requirements of your stock to ensure you stay in compliance.
Creating a winning smoke shop inventory list is not likely to happen overnight. Inevitably, there will be some trial and error.
However, that doesn’t mean you should fly blind when changing up your products. Use the reports and sales tracking in your POS system to help you make smarter, data-driven decisions.
As you roll out new items, keep track of their sales performance and profit margins to see what’s popular (and what’s not) and which items are best for your bottom line. You can also use reports for other insights such as what time of day items are selling best and which marketing strategies led to the best results.
Having a unique smoke shop inventory list is an important step in growing your business. Focus on products that other shops in your area don’t carry and that you know a lot about.
Of course, products aren’t the only way for your business to stand out. You could set up a vape or cigar lounge, use disposable rubber mouthpieces to offer vape samples, or set up manufacturer events (to name just a few ideas). Also, the power of providing great customer service can’t be understated.
Using the right technology for your industry is also a major factor in your success. Investing in a smoke shop POS solution like Cigars POS can help your business make smarter inventory decisions with features like:
Combined with sophisticated age verification and value-added features like customer loyalty, Cigars POS is a partner dedicated to supporting independent smoke shop owners.
To learn more about how Cigars POS can help you make better inventory decisions, schedule a demo today.