Maximum Yield's Industry News | January 2017
In this issue of Inews, we’re pleased to feature two companies taking advantage of an industry on the verge of major growth. One of our featured companies has been in business for 40 years while the other is a start-up looking to gain traction. 3SI Security built a name for itself protecting financial institutions from thieves intent on stealing their money. As it turns out, the company’s security expertise translates well to the cannabis industry. 3SI Security is a great example of adapting a product or service to a completely new industry. Conversely, CannaRelief is a start-up company looking to fill a much-needed niche in the cannabis industry. The company is the result of some very forward-thinking people who anticipated the need for their product and bravely moved forward with that idea. Their timing couldn’t have been better. Finally, Grow Green MI’s Anne Schultz arrived at the MJ Biz Conference and Expo in mid-November in Las Vegas armed with her reporter’s notebook, camera, and outgoing personality to provide us with some great photos and wrap-up of the expo. You can find her story and photos on page __. Speaking of expos, the team here at Maximum Yield is excited to announce the launch of GROWX, our newly branded series of trade shows set to get underway in 2017. Along with having a cannabis component, GROWX will feature education, business, and networking components developed to bring the industry together. GROWX will make its debut June 3-4, 2017, at San Jose’s McEnery Convention Center. A second show is scheduled to take place at Detroit’s Cobo Center from Sept. 30-Oct. 1, 2017. Hope to see you there! It is exciting times, to be sure, and we wish all of you a happy and prosperous new year. As always, thanks for reading Inews and if you have any questions feel free to contact us at editor@maximumyield.com.
In this issue of Inews, we’re pleased to feature two companies taking advantage of an industry on the verge of major growth. One of our featured companies has been in business for 40 years while the other is a start-up looking to gain traction.
3SI Security built a name for itself protecting financial institutions from thieves intent on stealing their money. As it turns out, the company’s security expertise translates well to the cannabis industry. 3SI Security is a great example of adapting a product or service to a completely new industry.
Conversely, CannaRelief is a start-up company looking to fill a much-needed niche in the cannabis industry. The company is the result of some very forward-thinking people who anticipated the need for their product and bravely moved forward with that idea. Their timing couldn’t have been better.
Finally, Grow Green MI’s Anne Schultz arrived at the MJ Biz Conference and Expo in mid-November in Las Vegas armed with her reporter’s notebook, camera, and outgoing personality to provide us with some great photos and wrap-up of the expo. You can find her story and photos on page __.
Speaking of expos, the team here at Maximum Yield is excited to announce the launch of GROWX, our newly branded series of trade shows set to get underway in 2017. Along with having a cannabis component, GROWX will feature education, business, and networking components developed to bring the industry together. GROWX will make its debut June 3-4, 2017, at San Jose’s McEnery Convention Center. A second show is scheduled to take place at Detroit’s Cobo Center from Sept. 30-Oct. 1, 2017. Hope to see you there!
It is exciting times, to be sure, and we wish all of you a happy and prosperous new year. As always, thanks for reading Inews and if you have any questions feel free to contact us at editor@maximumyield.com.
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We have already started to see this<br />
development over the last 12 months.<br />
Retail space will be used for several<br />
different types of customer engagement.<br />
Research carried out by Bridget Behe<br />
and Carol Millar in 2016 in the US and<br />
Canada asked Millennials what and<br />
how they thought before and after<br />
they went shopping. The research was<br />
focused on florists, but the findings could<br />
apply to any retailer. There were four key<br />
findings that relate to all retailers:<br />
1) Millennials do not like to feel<br />
ignorant when they go shopping.<br />
2) Millennials research online and<br />
consult trusted experts before<br />
they talk to the retailer.<br />
3) Adults want experiences with their<br />
children when they go shopping.<br />
4) Millennials are looking for<br />
engaging experiences.<br />
“I BELIEVE WE WILL SEE AN EMPHASIS SHIFT AND<br />
RETAILERS WILL BE MORE FOCUSED ON 'ENGAGEMENT'<br />
SPACE AND HOW THEY CAN MAXIMIZE THE LENGTH OF<br />
TIME SHOPPERS SPEND LINGERING IN THEIR STORE.”<br />
Walking the Shopping<br />
Aisles is Not the Future<br />
The majority of Millennial consumers<br />
are looking for engaging space, not<br />
more product. Here are some examples<br />
of what engaging space looks<br />
like in the retail world:<br />
• In 2016, Waitrose supermarkets in<br />
the UK set up in-store “grazing”<br />
areas. These spaces have benches<br />
and tables located next to the<br />
bakery and deli where customers<br />
can stop and “graze”.<br />
• Waitrose, like Tesco and many<br />
other retailers, has introduced<br />
restaurants and coffee shops into<br />
the supermarket mix.<br />
• More and more stores are getting<br />
parents to linger longer by allocating<br />
more space to children. A<br />
company called Instore Kids Corner,<br />
based in the Netherlands, has set<br />
up a highly successful business<br />
designing and installing indoor<br />
playgrounds in retail stores around<br />
the world.<br />
• Beauty stations in shopping centers,<br />
where the tips and ideas are just as<br />
important as the products, are becoming<br />
common pop-ups. For example,<br />
in the UK, The Mall in Camberley set<br />
up Our Beauty Day, which included a<br />
cover beauty shot for consumers.<br />
• Make & Take workshops are a highly<br />
successful retail model, think Home<br />
Depot and Michael’s craft store, both<br />
of which host educational workshops.<br />
The key to success is the customer<br />
can make and take whatever<br />
they save created.<br />
• Intergenerational workshops, where<br />
parents can attend the same workshop<br />
as their children, are another<br />
huge success. For example, I recently<br />
attended a pumpkin painting workshop<br />
where adults and children each<br />
painted their own pumpkin before<br />
taking them home.<br />
Allocating a place in your store that can<br />
quickly be converted to a space for activity<br />
is becoming more important in retailing. I<br />
predict that <strong>2017</strong> will be a period where the<br />
fun element of retailing is enhanced.<br />
John Stanley is the owner of John Stanley Associates and is known worldwide<br />
as The Retail Guru. He specializes in helping retail businesses grow their bottom<br />
line and expand their market base. John’s expertise ranges from conference<br />
speaking to hands-on management consulting.<br />
Article Source: johnstanley.com.au.<br />
<strong>Maximum</strong> <strong>Yield's</strong> <strong>Industry</strong> <strong>News</strong> // <strong>January</strong> <strong>2017</strong><br />
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