Mvix Integrates Digital Signage Solution With Cannabis Tech Platform MJ Freeway
April 25, 2018 by Dave Haynes
More and more digital signage software companies are starting to catch on to how the cannabis industry presents a lot of opportunity for menu boards, promo displays and interactive product information stations.
A few companies – existing and start-ups – are already serving the space with pure-play products and services, or with functionality and partnerships that effectively plug in to the cannabis retailing business.
The latest is Mvix, which has partnered with MJ Freeway, the cannabis industry’s major player in what’s called seed-to-sale tracking. Many cannabis dispensaries manage their day-to-day inventory through MJ Freeway’s platform, and the Mvix integration means they can now automatically display their products on digital menu boards.
The value proposition is that the integration streamlines ops, eliminating the need for the manual double-entry of data. When a product’s price changes or when inventory is low or out-of-stock, the POS-integrated menu boards are automatically updated, in real time.
“Our partnership with MJ Freeway allows us to help cannabis operators in two ways,” says Mike Kilian, senior director of business development at Mvix. “Because of the POS-integrated menu boards, marijuana dispensaries can match the look and feel of modern technology-driven retail. They also allow staff to focus on serving customers instead of updating multiple public-facing menus.”
“Technology solutions should deliver measurable return on investment. Through our MJ platform integration with Mvix, retailers realize ROI in both labor savings and an improved in-store experience. This is exactly the type of smart, scalable solution we love to bring to cannabis businesses,” says Jeannette Ward, VP of global marketing and communications at MJ Freeway.
Mvix is also developing an integration with Baker, the leading CRM for the cannabis industry. That would, in theory, empower more than 800 dispensaries now using the Baker CRM to manage their menu boards, inventory, POS and customer data from a single platform.
Baker already has several partnerships, however, and probably more to come. The startup recently released a free API and already integrates with 25 different software companies, including MJ Freeway and digital signage start-ups like BudBoard, GreenScreens and BudtenderTV.
Canada will, in theory, have fully legal cannabis retailing in something like nine weeks, though it’s reasonable to doubt that deadline being met. Though states like Colorado legalized the sale several years ago now, many US states have not followed suit. There is, however, a certain inevitability about it, and the signage companies who see that and are early movers could do very well.
As I have written a few times, the thing about signage in cannabis dispensaries is:
- unfamiliar product that generates a lot of questions;
- many SKUs;
- lots of complementary products;
- few mainstream avenues to market products, so the store really is the moment of truth for consumers.
That’s a perfect storm for screens and software to address all that. Someone walking into a dispensary for the first time – if they are new to this stuff – would be totally bewildered.