CEO Of Superette Mimi Lam Shares Her Secrets To Building An Unforgettable Retail Business
This special presentation from Superette is from Benzinga’s June 1 Virtual Cannabis Capital Conference. Click here for more coverage of this event, with presentations from some of the top CEOs, investors and lenders in the cannabis space.
When all other cannabis retail companies took a tech-forward and clinical approach, Ontario-based cannabis company Superette is bringing retail fundamentals to cannabis.
The retro-inspired vibe of Superette’s retail store creates a youthful and nostalgic ambiance for its customers that is reminiscent of your neighbourhood cornerstore.
CEO of Superette, Mimi Lam, joined the Benzinga’s Virtual Cannabis Captial Conference to discuss some of the behind-the-scenes secrets to creating a customer-focused brand.
“Retail experience is truly more important than ever. Retail is where customers can really connect with brands in a meaningful way,” said Lam. “We felt that no retail brands in the market were really treating cannabis the way that customers do, and that is recreationally.”
Creating The Space
According to the CEO, the company’s intent for its store was to make cannabis buying as enjoyable as consuming it. So, the brand focused on creating experiences that were familiar and delightful. This can be seen through the store’s diner-inspired red leather barstools, crisp, white-tiled walls, cannabis deli cases, and modern artwork.
“We wanted to give the world a brand that felt like the physical manifestation of the thoughts, the values, the beliefs, and the attitudes that real people had toward cannabis. And in our stores, we want customers to have the ultimate agency over the experience they want to have when buying cannabis.”
The Effects Of COVID
Due to the effects of COVID-19, Superette has been finding other ways to connect with its customers.
Digitally, we launched Spotify playlists, as well as Instagram live that features things like budtender chats, cooking and elevated yoga. Operationally, we’ve added Click & Collect, online payments, and delivery service, said Lam.
“Our consumers have been reacting positively to the way that we’ve expanded our ability to connect with them. It’s interesting to see that people still enjoy picking up their products in person. When we only had pick-up and delivery, our split was 80/20 and now that we’ve opened the doors back up for in-store experience about a third of sales are generated through walk-ins.”
In addition to its current re-opening, Superette will be opening up four new stores this summer, with hopes to eventually expand to the U.S. Superette will also be launching branded cannabis products in the coming months.
Moderator Chloe Aiello asked the CEO to share with attendees the single most important asset an entrepreneur needs when looking to succeed in cannabis retail.
Focus on your execution, said Lam.
“You can have ideas, you can have a vision, but what you have to think about is how do you bring that to life and how to do you keep going.”
Photo Courtesy of Superette
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.