The cannabis industry has had its share of ups and downs — both on the actual business side of the industry and when it comes to trade events. Some trade events have done well and flourished; others … not so much.
In the Northwest, one trade event has become almost legendary in its eight years of existence. Interchange is the event, and it continues to sell out year after year. The reasons for the unmatched success of Interchange are many, but first and foremost it comes down to something quite simple: It works, and participants get a huge return on their investment.
Interchange started in 2016 as a Washington-based industry-only showcase for cannabis suppliers. For two days, licensed retail buyers would meet with vendors in a private event space. Meetings were scheduled every half hour. Vendors would make their best pitch in that half hour and then move on to their next meeting. The process would go on for two days. In most cases, both vendors and buyers had success: Vendors made big sales and opened up new accounts, and buyers made new friends, saw exciting new products and expanded their offerings. Word spread quickly, and from fairly humble beginnings Interchange quickly became a must-attend event that attracted cannabis professionals from all over the Northwest. Sell-outs and wait lists are now the order of the day.
10 reasons Interchange works
- It’s efficient. Buyers and sellers both save time by having a lot of meetings in a short amount of time.
- There are no distractions. Meetings aren’t interrupted by employees, customers, ringing phones or random distractions.
- It’s industry only. No lookie-loos and nobody looking for freebies or handouts.
- The right people attend the event. When you have a meeting at Interchange, you know you’re sitting down with the right person at that company, whether it’s an owner, manager, buyer or salesperson.
- It’s organized. Meetings are scheduled precisely throughout the day, and vendors have an opportunity to submit a “wish list” of retailers they most want to meet with.
- Relationships are built. Whether vendors are meeting with existing clients or new prospects, the face-to-face meetings are ideal for building profitable, long-term business partnerships.
- It’s local. The Washington Interchange as well as future Interchange events in other states are held exclusively for the local industry.
- It promotes innovation. The hardest part of launching a new brand or product is getting it out in front of buyers. Interchange is a controlled setting where vendors can demo new brands and innovations.
- It’s inexpensive. Retailers attend Interchange at no charge. The fee for vendors is lower than a booth at most industry conferences — and far more time- and cost-effective because sales reps aren’t waiting for potential clients to come to them.
- It’s simple. The Interchange event saves businesses time and money by pounding the pavement for its attendees. No cold calls. No walk-ins. No waiting. Just pure sales.
In Washington state, it’s estimated that the event has led to more than $100 million in direct show sales and another $500 million in reorders and continuity business. That’s quite a record!
With success came expansion. Interchange spread to Oregon and Michigan in 2022. In both states the event proved successful and in 2024 the goal is to add several more states in the Southwest and West.
If you’re an owner, manager or employee in the cannabis industry and want to participate, contact Marijuana Venture at 425-656-3621 or by emailing Interchange@MarijuanaVenture.com.
For more information, visit www.interchangemv.com.