Cannabis Dispensary Gross Margins vs. Markups: What’s the Difference?
Jul 24, 2023In the ever-evolving landscape of cannabis retail, pricing quickly stands out as one of the most critical challenges for brands and retailers that are focused on increasing their profitability.
Navigating the realities of a competitive market and determining the right pricing strategy quickly becomes a foundational skill needed for success.
This week Vetrina Group’s CEO and Founder, Krista Raymer, wrote a guest blog for one of our favourite partners, Flowhub.
In this blog we delve into two terms that get used interchangeably: gross margin and mark-ups.
Although you may hear these two methods tossed around at your meeting, the failure to distinguish between them can spell disaster for a retailer’s bottom line.
Understanding and applying both concepts within a well-planned pricing model has helped our clients profoundly impact their revenue and success.
By the end of this blog, you’ll gain invaluable insights into how these crucial strategies can ensure your price setting is not only done accurately but also efficiently to maximize profitability.
Read the full blog on Flowhub here.
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