A premier independent Canadian licensed cannabis retailer already operating on the forefront of the new legal cannabis industry is capitalizing on the business by bringing sales online.
Fire & Flower Inc. (TSX:V.FAF, Forum) recently announced that it has launched its e-commerce platform. Developed by the Company’s digital product studio, HiFyre Inc., it will sell adult-use recreational cannabis to customers in the province of Saskatchewan and accessory products to customers across Canada. HiFyre boasts significant experience working in the legal cannabis industry. For the past six years, their clients included notable companies including: Mettrum Health Corp. and Starseed Medicinal Inc. as well as industry juggernaut Canopy Growth Corporation (TSE: WEED).
(Image via TMX Group.)
The Company commenced trading on TSX Venture Exchange on February 19, 2019 and is already expanding its business to Ontario, Fire & Flower is also growing its relationships with cannabis consumers in addition to retail. FAF signed an agreement with cannabis marketing platform Lift & Co. (TSXV: LIFT) to share product reviews and experiences. With this, Lift members can share their reviews and earn Lift Points to redeem for gift cards, promotions and industry events.
Stockhouse recently had the chance to dive a little deeper into this venture with Fire & Flower’s CEO, Trevor Fencott and find out more about this platform.
E-commerce sounds quite distinct in this space, can you run us through what consumers can expect?
Fire & Flower’s e-commerce platform is operating in the province of Saskatchewan, where private e-commerce is allowed. It is a very user-friendly and intuitive experience. Once an account is created, it is only a few clicks before cannabis is ordered and will be delivered to our customers door.
Looking to capture a significant market share in Canadian provinces that allow private retail, how do you see e-commerce’s potential versus traditional brick-and-mortar sales? Or will the two compliment each other?
Different consumers will look for different shopping experiences. Customers who are new to cannabis can look to our robust in store experience. Those who are familiar with cannabis or are looking for a specific product may look to order from us online. It is important to remember that our e-commerce platform also uses our strain selector tool that points consumers to the right kind of experience they are looking for.
As a technology-focused and data-driven retailer, how important is gathering information to this endeavour’s success?
Fire & Flower is a cannabis platform that connects Licensed Producer products with consumers. We have been purpose-built from the ground up as a data-driven and technology focused retailer. It is a key differentiator in the market that will allow for a personalized customer experience.
Consumers really appreciate the face-to-face nature of cannabis retail so that they can learn more about the strains they wish to purchase, how is this handled in the e-commerce space?
Once consumers are age-verified on our website, we have a great deal of educational content that is published on our online platform. Our e-commerce platform is an extension of our store experience and has allowed us to open up a new market of the province of Saskatchewan.
Why did Fire & Flower choose to acquire HiFyre?
In building Fire & Flower as a data and technology-driven retailer, it was important for us to have in-house digital product development capabilities. HiFyre had extensive experience building Mettrum’s e-commerce platform as well as experience working with Starseed and Canopy Growth.
The Company is working to grow its retail operations into Ontario by April 2019?
Along with the Ontario license holders, you can expect to see Fire & Flower branded shops opening in Ottawa and Kingston in April of 2019. We plan to grow in the Ontario market as soon as licensing becomes available.
Cannabis is a competitive landscape right now, what sets Fire & Flower apart from other companies racing to establish their retail businesses across the country?
Our elevated customer experience and focus on educating new customers in the cannabis category is a major differentiator. In addition, our focus on technology and data is unique in being able to better serve our customers.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.