In a rapidly changing world, staying ahead of the curve is no longer just an advantage – it’s a necessity. For the cannabis industry, the curve is bending towards a new, disruptive form of payment: Buy Now, Pay Later (BNPL).
BNPL: The New Norm in Consumer Spending
As the BNPL market is anticipated to explode to a staggering $309 billion by 2028, offering this payment option is quickly becoming a must for businesses across all sectors. Especially for dispensaries in Canada. Why? Because when stores offer BNPL, they see a significant increase in sales. One Gratify store has seen a whopping 200% increase in average size when customers pay with Gratify. And to date the largest purchase we have seen is over $500!
For dispensaries, the growth potential is immense. The BNPL market is projected to grow at an astonishing 1,200% CAGR through 2024. To put it in perspective, BNPL already accounts for $2.5 billion of Canadian payments today. In the US, it stands at $100 billion. The trend is clear – consumers are embracing BNPL, and merchants must keep pace or risk losing sales.
The Gratify Solution: A Unique BNPL Plugin for Cannabis
But how can dispensaries capitalize on this trend without overhauling their current systems? Here’s where Gratify comes in. Gratify’s BNPL is the first of its kind in the cannabis industry, designed to help dispensaries sell more. It’s straightforward, fast, and ready to be switched on with zero process change and zero risk.
Zero-Interest Installment Plans: A Win-Win Approach
Gratify offers zero-interest instalment plans that are approved in seconds. Customers can make a purchase and pay only 25% of the overall amount today, while your dispensary receives is paid upfront, less any fees. Gratify then collects the remaining amount due from your customer in 3 interest-free instalments.
Boost Your Sales with BNPL
The benefits of integrating Gratify’s BNPL solution are huge. First and foremost, dispensaries can experience an increase in consumer spending. In fact, stats show that merchants see an average 61% increase in consumer spend when they offer BNPL. Also, 56% of consumers have used BNPL in the last year, and 60% are planning to use it next year. Offering this option can attract more customers and stimulate repeated purchases.
Innovate and Lead the Way
In an industry that thrives on innovation, Gratify helps set dispensaries apart. As the first BNPL solution unique to the cannabis industry, it allows dispensaries to stay ahead of customer demand for better payment methods. Fire & Flower dispensaries, in collaboration with Merrco, can lead the way in adopting this innovative payment solution.
Implementation Made Easy
Gratify does not require any process changes. It can be switched on easily and comes through Merrco. You also get daily settlements BNPL transactions, fewer vendors to manage, simplified accounting, and more unified support.
Ready to Transform Your Dispensary?
With Gratify’s BNPL, you can increase your revenue, not your processes. It’s time to unlock your dispensary’s potential and ride the BNPL wave. And the best part? You can roll out Gratify in hours, not weeks. Start with one store or the full portfolio – the choice is yours.
In the world of cannabis, innovation is the key to growth. With Gratify, you’re not just adopting an innovative payment solution – you’re embracing the future. So, are you ready to grow your dispensary with integrated BNPL?