/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR
DISTRIBUTION TO UNITED STATES WIRE
SERVICES/
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," said 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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION
This news release contains certain forward-looking
information within the meaning of applicable Canadian securities
laws ("forward-looking statements"). All statements other than
statements of present or historical fact are forward-looking
statements. Forward-looking statements are often, but not always,
identified by the use of words such as "anticipate", "achieve",
"could", "believe", "plan", "intend", "objective", "continuous",
"ongoing", "estimate", "outlook", "expect", "project" and similar
words, including negatives thereof, suggesting future outcomes or
that certain events or conditions "may" or "will" occur. These
statements are only predictions.
Forward-looking statements are based on the opinions and
estimates of management of Fire & Flower at the date
the statements are made based on information then available to
the Fire & Flower. Various factors and
assumptions are applied in drawing conclusions or making the
forecasts or projections set out in forward-looking statements,
including with respect to the closing of the Transaction on the
terms described herein or at all. Forward-looking
statements are subject to and involve a number of known and
unknown, variables, risks and uncertainties, many of which are
beyond the control of Fire & Flower, which may
cause Fire & Flower's actual performance and results to
differ materially from any projections of future performance or
results expressed or implied by such forward-looking statements.
Such factors, among other
things, include: final regulatory and other approvals or consents; fluctuations in
general macroeconomic conditions; fluctuations in securities
markets; the impact of the COVID-19 pandemic;
the ability of the Company to successfully
achieve its business objectives and political and social
uncertainties.
No assurance can be given that the expectations reflected in
forward-looking statements will prove to be
correct. Although the forward-looking statements
contained in this news release are based upon what management of
the Company believes, or believed at the time, to be reasonable
assumptions, the Company cannot assure shareholders that actual
results will be consistent with such forward-looking statements, as
there may be other factors that cause results not to be as
anticipated, estimated or intended. Readers should not place undue
reliance on the forward-looking statements and information
contained in this news release. Additional information regarding
risks and uncertainties relating to the Company's business are
contained under the heading "Risk Factors" in the Company's annual
information form dated April 29, 2020
and the heading "Risks and Uncertainties" in the management
discussion and analysis for the thirteen and thirty-nine weeks
ended October 31, 2020 filed on its
issuer profile on SEDAR
at www.sedar.com.
No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained
herein.
SOURCE Fire & Flower Holdings Corp.