June 2021 | Waterloo, ON
Since the legalization of cannabis took place in Canada in October 2018, the industry and market demand for the products have massively flourished. However, given the unique challenges presented with operating and expanding a physical cannabis retail store in terms of compliance restrictions, competition analysis, and site selection, incorporating cutting edge technology tools to tackle these challenges is critical for success.
Leading the way is Canadian cannabis brand, Fire & Flower. With 86 stores in its current portfolio, and a rapid growth trajectory, Fire & Flower understands the significance of being data-driven in order to address these unique challenges and position itself as a clear market leader.
To stay ahead of the game, Fire & Flower partners with PiinPoint to intelligently identify and place new locations, leveraging cutting edge features like PiinPoint’s Mobile Traffic Volumes to maximize their long term success.
Image 1. PiinPoint's Mobile Traffic Volumes in action. Quickly query any major road segment to look at estimated volumes of AADT. Results are broken down by direction, as well as time of day and day of week.
“Mobile Traffic Volumes allow us to feel more confident in the viability of a location, and better compare competitor locations to our own.”
Victoria Gereluk
Real Estate Manager
WHAT ARE MOBILE TRAFFIC VOLUMES & WHY USE THEM?
Analyzing traffic volumes is essential to retailers and real estate professionals decision-making, as it helps provide key information regarding the flow of traffic around a subject site. In addition to the traditional municipal traffic counts, PiinPoint offers the ability to leverage the power of Mobile Location Data to query traffic volumes across major road segments through its Mobile Traffic Volumes feature.
In order to do this, PiinPoint uses machine learning and Mobile Location Data to create a proprietary model that estimates the AADT volumes for any given road segment. Machine learning allows PiinPoint to identify trends and patterns within the data, and is continually trained, tested and improved upon to build increasingly accurate traffic count predictions.
With consistent coverage across North America that is always up-to-date, and a median accuracy of over 81%, Fire & Flower can compare traffic counts from region to region. This enables an apples-to-apples comparison to take place, irrespective of the market.
HOW FIRE & FLOWER LEVERAGES MOBILE TRAFFIC
With the ability to get granular, see the traffic flow on one side of the road to another, and visualize how traffic patterns flow throughout the day and week, Mobile Traffic Volumes have allowed Fire & Flower to be more confident in the viability of a location they are analyzing, and offers a key tool in analyzing their locations against those of their competitors.
Given Fire & Flower’s aggressive growth trajectory, adopting cutting edge technology has been paramount in keeping the momentum going. As such, Mobile Traffic Volumes are one of the key PiinPoint features that allow them to stay ahead by understanding up-to-date information about traffic patterns. The feature has given the Fire & Flower team more precise traffic data than previous datasets could support.
About Fire & Flower
Fire & Flower is a technology-powered, independent cannabis retailer launched in the world’s first major federally-legal market. With 86 stores currently and expanding globally, Fire & Flower leads the cannabis retail industry through its proprietary retail analytics solution. Unlike licensed producers or multi-state operators who are involved with the agricultural production of cannabis, Fire & Flower is a dedicated retailer focused on applying its data-driven retail solutions to its rapidly expanding, high-value store footprint. To learn more, visit www.fireandflower.com.
