420 Satori Diversifies Brand Selection Using PoST
Learn how Michigan retailer, 420 Satori, decreases inventory carry risk and adds new brands using LeafLink’s Payment on Sell-Through (PoST).
Company Overview
The Challenge
As a newer retailer on the east coast of Lake Michigan, 420 Satori strives to listen to their customers above all else. COO Dustin Davenport wanted to diversify his product selection with new brands and higher-ticket items, but was hesitant to take the risk of stocking unproven products. When he learned about Payment on Sell-Through (PoST), he was thrilled.
“When our customers request a specific item, we do our best to get it in stock. But some of these brands have high order minimums that we just can’t meet. We’ve received samples and love the products, but just can’t afford the high upfront investment. PoST was the reason I was able to start buying from them.”
Dustin Davenport
COO, 420 Satori
But Dustin recognizes that a store like his needs a thoughtful purchasing strategy.
“As a smaller store in a vacation town, our business can be very seasonal. The higher ticket items are great for summer tourism or special occasions like 4/20, but our regulars are looking for more affordable products that meet their everyday needs.”
The Solution
420 Satori was one of the first retailers in Michigan to use PoST. Immediately, Dustin’s team was able to engage with brands that were previously out of their price range, and have since been able to test and learn how these products perform in their stores without taking on a huge upfront investment.
“When you’re paying in full on net 7 or net 14, that’s not nearly enough time to determine whether an item is a fit for your store. With PoST, the monetary amounts are more manageable. We can bring in modest amounts of each product, figure out what types of deals may work best and collaborate with the brand to drive better sell-through.”
The Results
Dustin has also noticed a more collaborative partnership with his PoST sellers.
“Our sellers are looking at the data and proactively reaching out when we’re running low on certain items. If something isn’t moving, they’re coming up with ideas for promotions we can run that they’ve seen work in other stores.”
Learn more about PoST or request a demo.
