BDSA Inks Strategic Licensing Deal with Fire & Flower Subsidiary Hifyre

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Colorado-based cannabis research firm has signed a licensing agreement with Fire & Flower Holdings, which owns and operates dozens of cannabis retail stores across Canada.

The partnership will allow clients of both companies to access data from their respective territories.

According to a news release, BDSA’s retail sales data subscribers will now be able to obtain Canadian market data via Fire & Flower’s “Hifyre” digital retail and analytics platform.

Meanwhile, HiFyre users will also have access to BDSA’s data and insights from the U.S. cannabis market.

“Understanding product innovation, consumer preferences and shopping behaviors in Canada will enable companies participating in the Canadian cannabis economy to make product, retail and investment decisions based on the most current, accurate information,” BDSA chief Micah Tapman said via a news release.

Legal cannabis sales in Canada, which began in 2018, reached an estimated $2.6 billion in 2020. Sales are forecasted to grow to $3.9 billion in 2021.

By comparison, the U.S. market is already 6 times larger than Canada. Legal sales surpassed $17.5 billion in 2020, and only 15 U.S. states have approved adult-use cannabis sales.

Nevertheless, the partnership will enable U.S.-based companies that are looking for insights from a federally legal market access to “granular data,” including historic and trending sales.

Similarly, Canadian cannabis firms will now be able to leverage BDSA’s “extensive U.S. cannabis database and ability to quickly adapt to changing regulations in the U.S.”

Headset, a competing U.S. data analytics company, launched its "Insights" intelligence tool in Canada in 2019.

Additional details about the Hifyre and BDSA partnership are included in news releases, below.

BDSA Expands Retail Sales Tracking into the Canadian Market through Strategic Licensing Agreement with Fire & Flower Subsidiary Hifyre™

Canada Represents World’s Largest Nationally Legal Market with a 20% CAGR, BDSA Data Available to Canadian Cannabis Retailers, Hifyre IQ™ Data Available to the U.S. Market

U.S. and Canadian Cannabis Industries Gain New Insights to Accelerate Growth

BOULDER, Colo., March 10, 2021 — BDSA, the leader in data, market intelligence and advisory services to the cannabis industry, announced today the expansion of its cannabis retail sales tracking coverage to include Canada through a new strategic licensing agreement with Hifyre, Inc. (“Hifyre”) a wholly-owned subsidiary of Fire & Flower Holdings Corp. (“Fire & Flower”) (TSX: FAF OTCQX: FFLWF), a leading cannabis retailer with a proprietary digital retail and analytics platform. Canada is the world’s largest nationally legal market for cannabis. 

“As a result of this agreement, BDSA now provides clients a comprehensive suite of market and consumer analytics and insights covering the Canadian market. Understanding product innovation, consumer preferences and shopping behaviors in Canada will enable companies participating in the Canadian cannabis economy to make product, retail and investment decisions based on the most current, accurate information,” said Micah Tapman, CEO of BDSA. “The Canadian market offers many significant opportunities based on a passionate and engaged consumer base.”

Legal cannabis sales in Canada totaled an estimated $2.6 billion in 2020 and is forecast to grow to $3.9 billion in 2021. Growth is expected to continue to $6.4 billion in 2026. Canada began legal adult-use sales in late 2018 and dramatically expanded product offerings in both the medical and adult-use sales in 2020 with availability of new Cannabis 2.0 product categories.

The agreement gives both U.S. and Canadian cannabis industry participants access to an extensive data set with which to make product development, distribution and investment decisions. It will make available granular data down to the product and attribute level, historic, trending data; detailed cannabis licensed producer sales information by parent company; and coverage of both large and small retail chains. Core elements of the agreement include:

  • BDSA U.S. cannabis industry data will now be available to Hifyre IQ™ Canadian cannabis data platform subscribers through an addition to existing data subscriptions;
  • The Hifyre IQ platform will be available to BDSA retail sales data subscribers through an addition to existing data subscriptions;
  • BDSA and Hifyre will collaborate to develop new market intelligence products and services using the combined U.S. and Canadian data sets.

“We look forward to working with BDSA to take advantage of this excellent opportunity to accelerate our growth by expanding into the enormous and rapidly growing U.S. market,” said Trevor Fencott, CEO of Fire & Flower. “The Hifyre IQ analytics platform is recognized by Canadian licensed producers and the financial community as the most comprehensive and innovative platform available and we anticipate the U.S. market will benefit from the ability to generate more accurate, meaningful insights.”

About BDSA

BDSA helps businesses improve revenues, reduce innovation risk, and prioritize market expansion with accurate and actionable cannabis market intelligence, consumer research and advisory services. The company provides a holistic understanding of the cannabis market by generating insights from point-of-sale data, consumer research, and market-wide industry projections. Retailers, manufacturers, brands, wholesalers and investors can now make better strategic decisions that drive profitability, increase revenues and market share, and reduce expenses. BDSA is headquartered in Boulder, Colorado. To learn more please visit www.bdsa.com.

About Fire & Flower  

Fire & Flower is the leader in adult-use cannabis retailing in Canada. Fire & Flower Holdings Corp., through wholly owned subsidiaries, owns and operates cannabis retail store licenses in the provinces of Alberta, Saskatchewan, Manitoba, Ontario and the Yukon territory under the Fire & Flower, Friendly Stranger, Happy Dayz and HotBox brands. The Company operates retail stores, powered by the HifyreTM Digital Retail and Analytics Platform and Spark PerksTM program to deliver best-in-class customer service and cutting-edge insights to target cannabis products and experiences to a variety of evolving and diverse consumer segments. The Company’s leadership team combines extensive experience in the cannabis industry with strong capabilities in retail operations.

Through its strategic investment with Alimentation Couche-Tard Inc. the Company has set its sights on the global expansion as new cannabis markets emerge.

About Hifyre, Inc. 

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. 

Fire & Flower Subsidiary Hifyre Enters into Strategic Agreement with Leading U.S. Analytics Company BDSA

Hifyre IQ™, the leading cannabis digital retail and analytics platform, to become available to the U.S. cannabis market through collaboration with BDSA

Toronto, Ontario (March 10, 2021) — Fire & Flower Holdings Corp. (“Fire & Flower” or the “Company”) (TSX: FAF OTCQX: FFLWF), a leading cannabis retailer with a proprietary digital retail and data platform, today announced that its wholly-owned indirect subsidiary, Hifyre Inc. (“Hifyre”), has 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, crossborder data to their respective consumer bases.

Matthew Hollingshead, President of Hifyre, Inc., commented, “A key aspect of Fire & Flower’s growth strategy is to strategically incorporate alternative high-margin revenue streams into our business model in order to drive profitability, while building a leadership role in key cannabis markets around the world. Our Hifyre IQ™ analytics platform has proved successful in Canada as it has presented one of the strongest avenues of high-margin growth for our business and is recognized by licensed cannabis producers, equity research analysts, investment banks, hedge funds and consulting firms as a leading cannabis data platform in the country. Extending this platform into the U.S. is an excellent opportunity to accelerate this revenue stream.”

Hollingshead continued, “Our unique Hifyre IQ™ platform has generated widespread demand from other leading cannabis companies looking to efficiently capture consumer data and meet customer demand. BDSA’s extensive U.S. cannabis database and ability to quickly adapt to changing regulations in the U.S. makes them a prime partner. Through this agreement, both Fire & Flower and BDSA anticipate enlarging our respective consumer bases while supporting each other’s continued growth in the cannabis industry.”

Strategic Agreement Highlights

  • The Hifyre IQ™ Canadian cannabis data platform will be made available for subscription to customers of BDSA through its existing cannabis data products.
  • BDSA’s U.S. cannabis consumer data will be made available for subscription to customers of Hifyre IQ™.
  • Hifyre and BDSA will work collaboratively on the development of additional products and services using data available from Canada and the U.S.

“We are very pleased to be working with Hifyre under this strategic agreement and bringing their leading Canadian cannabis data to our clients in the U.S. who are keen to understand insights from the Canadian market and how they may apply to consumers in the United States,” shared Micah Tapman, Chief Executive Officer of BDSA. “The offering of BDSA’s U.S. data to Hifyre’s Canadian cannabis customers will further expand our presence in the Canadian market.”

About Fire & Flower 

Fire & Flower is a leading purpose-built, independent adult-use cannabis retailer focused on the Canadian market and international expansion opportunities. The Company guides consumers through the complex world of cannabis through education-focused, best-in-class retailing while the HifyreTM digital platform connects consumers with cannabis products. The Company’s leadership team combines extensive experience in the cannabis industry with strong capabilities in retail operations. 

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. 

Through the strategic investment of Alimentation Couche-Tard Inc. (owner of Circle K convenience stores), the Company has set its sights on the global expansion as new cannabis markets emerge. 

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.

About BDSA

BDSA helps businesses improve revenues, reduce innovation risk, and prioritize market expansion with accurate and actionable cannabis market intelligence, consumer research and advisory services. The company provides a holistic understanding of the cannabis market by generating insights from point-of-sale data, consumer research, and market-wide industry projections. Retailers, manufacturers, brands, wholesalers and investors can now make better strategic decisions that drive profitability, increase revenues and market share, and reduce expenses. BDSA is headquartered in Boulder, Colorado. To learn more please visit www.bdsa.com.


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