TORONTO, April 21, 2021 /CNW/ – Fire & Flower Holdings Corp. (“Fire & Flower” or the “Company”) (TSX: FAF) (OTCQX: FFLWF) and its indirect wholly-owned subsidiary Hifyre Inc. (“Hifyre”), today announced the milestone achievement of 250,000 Spark PerksTM members across the Fire & Flower retail network.
Spark Perks members receive special benefits where permitted, including: Spark Fastlane TM click-and-collect checkout, personalized recommendations, curbside pickup, free rapid delivery, and exclusive deals. No cannabis purchase is required to join the free program.
The Sparks Perks program is now available across all Fire & Flower banners including Friendly Stranger, Happy Dayz and Hotbox and delivers personalized product recommendations to members.
A core metric in our business is lifetime customer value and the cost of customer acquisition. We believe Spark Perks customers have the highest lifetime customer value in the industry through their larger basket sizes, more frequent visits and the diversity of products they consume.
Trevor Fencott, Chief Executive Officer of Fire & Flower
While growing rapidly, we have also focused on a low cost of customer acquisition. Although metrics such as same store sales are important, as an evolved technology-enabled retail company we focus on customer engagement metrics that will be critical as our platform scales to the U.S.
Key Metrics from the Spark Perks Program:
- Members who order from Same Day Rapid Delivery spend 110 per cent more than non-members and have 90 per cent larger baskets than non-members
- Members served through Fastlane pickup spend 49 per cent more than non-members in-store
- Members transacting in-store have 27 per cent larger basket sizes than non-members with 19 per cent more items in their baskets
The Spark Perks program leverages the HifyreTM advanced digital retail and analytics platform. Hifyre is the leading Canadian data and analytics platform within the cannabis industry and recently entered into a strategic agreement with BDS Analytics Inc. (“BDSA”) to incorporate Hifyre’s Canadian digital retail and analytics into BDSA’s existing online U.S.-based market research platform. As part of the agreement, BDSA will offer Hifyre IQ Canadian cannabis data to its U.S.-based clients and Hifyre will be able to provide U.S. data from BDSA to its Canadian clients, allowing both companies to offer enhanced, cross-border data to their respective consumer bases.
About Fire & Flower
Fire & Flower is a leading, technology-powered, adult-use cannabis retailer with more than 80 corporate-owned stores in its network. The Company leverages its wholly-owned technology development subsidiary, Hifyre Inc., to continually advance its proprietary retail operations model while also providing additional independent high-margin revenue streams. Fire & Flower guides consumers through the complex world of cannabis through education-focused, best-in-class retailing while the HifyreTM digital retail and analytics platform empowers retailers to optimize their connections with consumers. The Company’s leadership team combines extensive experience in the technology, cannabis and retail industries.
Through the strategic investment of Alimentation Couche-Tard Inc. (owner of Circle K convenience stores), the Company has set its sights on global expansion as new cannabis markets emerge and is poised to expand into the United States when permitted through its strategic licensing agreement with American Acres Managers upon the occurrence of certain changes to the cannabis regulatory regime.
Fire & Flower is a multi-banner cannabis retail operator that owns and operates the Fire & Flower, Friendly Stranger, Happy Dayz and Hotbox brands. Fire & Flower Holdings Corp. owns all issued and outstanding shares in Fire & Flower Inc. and Friendly Stranger Holdings Corp., licensed cannabis retailers that own and operate cannabis retail stores in the provinces of Alberta, Saskatchewan, Manitoba and Ontario, and the Yukon territory.
To learn more about Fire & Flower, visit www.fireandflower.com.
About Hifyre
The Hifyre Digital Retail and Analytics Platform is a proprietary ecosystem of products that includes the Spark Perks member program, Hifyre ONE retail software platform and the Hifyre IQ cannabis data and analytics platform.
The Hifyre platform also supports Fire & Flower’s advanced operations and provides a competitive advantage in providing a tailored digital experience and understanding consumer behaviours in the evolving cannabis market.
To learn more about Hifyre, visit www.hifyre.com.
