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Tuesday, Aug 16, 2022
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Business

Fire & Flower launches ‘virtual dispensary’ portal for LPs

The first brands offered through the platform include Auxly, Aleafia, Cronos Group, FIGR and Wagners

Fire & Flower launches online portal for LPs to sell through
Photo by Mack Male via Wikimedia Commons

Canadian retailer Fire & Flower Holdings Corp. (TSX: FAF) (OTCQX: FFLWF) is adding virtual stores to its online platform for licensed producers to provide a direct-to-consumer sales experience.

On Thursday, the firm says the online marketplace uses drop shipping to give customers the ability to shop by LP then pick up orders at one of Fire & Flower’s store locations or have it delivered, where permitted.

The first brands offered through the platform include Auxly Cannabis Group (TSX: XLY), Aleafia Health Inc. (TSX: AH) (OTCQX: ALEAF), Cronos Group Inc. (NASDAQ: CRON), IM Cannabis Corp. (CSE: IMCC)(NASDAQ: IMCC) and The FIGR Group.

Read more: Fire & Flower ups sales 6% to $45M in Q3, offset by surge of new Ontario stores

To successfully compete in the competitive cannabis market, Auxly senior VP of commercial Andrew MacMillan says it’s essential to understand buying habits and preferences.

“Through our newly branded e-commerce dispensaries, not only can we track consumer activity right through to purchase and conversion, but most importantly, we are also delivering an enhanced experience of our brands. This direct-to-consumer online model will drive new opportunities to more effectively serve our expanding customer base and support our sales growth.”

The firm’s deal to buy Pineapple Delivery closed earlier this week, enabling the firm to deliver products in Ontario, Manitoba and Saskatchewan. Fire & Flower called the delivery service the “final component” to offer the cannabis industry a “full consumer technology platform”

Fire & Flower to acquire Pineapple Express Delivery

Pineapple Express completes more than 40,000 deliveries per month across Canada. Photo via Pineapple Express

“Retail is continuously evolving and we found that a growing segment of our customer base is looking for a seamless digital solution that allows them to connect and shop directly from their favorite brands,” Fire & Flower CEO Trevor Fencott said in a statement.

“We are uniquely positioned to meet that demand by providing a streamlined retail experience to customers across North America through our scalable, digital solution, powered by our Hifyre technology platform.”

Fire & Flower also owns and operates Friendly Stranger, Happy Dayz and Hotbox brands, with retail stores in Alberta, Saskatchewan, Manitoba, British Columbia, Ontario and the Yukon.

Read more: Fire & Flower opens 100th store, has 360,000 loyalty members

The majority of the firm’s brick-and-mortar stores are located in Alberta, where private retail stores will be taking over full responsibility of cannabis delivery in March. In British Columbia, retail stores are responsible for handling deliveries without the help of third-party services, and delivery is advertised at Fire & Flower’s two Vancouver locations.

On Thursday, company stock dropped more than two per cent to $4.38 on the Toronto Stock Exchange.

 

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