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Mandy’s Gourmet Salads Accelerates Cross-Canada Expansion

Mandy's Salads at 110 Bloor St. W. in Toronto. Photo: Mandy's Gourmet Salads

Mandy’s Gourmet Salads is ramping up its expansion efforts across Canada, with plans to open 30 to 40 locations nationwide over the next five years. The Montreal-based brand, known for its creative salad offerings and vibrant restaurant interiors, is targeting key urban markets, including Vancouver and Calgary, as it looks to extend its footprint beyond Quebec and Ontario.

Vanessa Fracheboud, President of Mandy’s Gourmet Salads, confirmed that the company, which currently operates 15 locations across Quebec and Ontario, is actively searching for its first location in Vancouver while also finalizing new restaurant openings in Toronto and Ottawa. “We are expanding, I think we’ve been very loud about it in the past few months,” said Fracheboud. “We wanted to close the loop on the GTA extension, at least for now, and then we will be moving towards Western Canada.”

Mandy Wolfe, Vanessa Fracheboud and Rebecca Wolfe (Image: Mandy’s Gourmet Salads)

New Openings in Toronto and Ottawa

Mandy’s is opening two new locations in Toronto’s Yonge and Eglinton and Canary District, further solidifying its presence in the city. According to Fracheboud, the Yonge and Eglinton location was a natural choice. “It’s an interesting mix between urban, busy, but also very neighborhood- and community-oriented, a little bit like Westmount in Montreal,” she explained. “We always want to stick close to urban centres where there’s lots of traffic, young families, and young entrepreneurs.”

The Canary District location, on the other hand, was selected for its distinct “Distillery vibe,” as well as its proximity to parks and trails. “It was a no-brainer,” she said. “The population is dense enough to have a Mandy’s without cannibalizing our other locations.”

In Ottawa, Mandy’s is setting up shop in The Glebe. “Canary District and Ottawa are the two that are creating the most noise at the moment,” Fracheboud noted. The Ottawa location is scheduled to open in June 2025, following the South Shore of Montreal location near Quartier DIX30 in April. Yonge and Eglinton is slated for July at 2670 Yonge Street, with Canary District expected to open in spring 2026.

Western Canada Expansion: Vancouver and Calgary in Focus

With Ontario and Quebec well underway, Mandy’s is now looking westward. “Right now, we have a lease under review in Vancouver. I have not signed it yet, but it’s under review. There’s a non-binding LOI,” Fracheboud revealed. “I want to saturate the market as fast as possible, but without diluting the brand.”

In Vancouver, the company is eyeing downtown, East Vancouver, Kitsilano, and North Vancouver, while in Calgary, the downtown area is the primary target. “For Calgary, we want to make sure that we come in first with a brick-and-mortar, not with a ghost kitchen. That’s not who we are,” she emphasized. “We are really guest experience-oriented, and to come into a new market, we need to ensure people get the full Mandy’s experience before introducing a ghost kitchen.”

Brandon Gorman of JLL is handling the expansion as broker. 

Inside Mandy’s Salads at 110 Bloor St. W. in Toronto. Photo supplied

Maintaining the Brand’s Essence Amid Growth

Despite the rapid expansion, Mandy’s remains committed to maintaining its signature aesthetic and guest experience. “You’ll always have a wall with photography, family pictures, and hand-painted plates from unique artists,” Fracheboud said. “Each location has a different inspiration, but the foundation remains the same.”

The brand is also highly selective about its real estate choices. “We have refused a few great locations because the building itself was not 100% aligned with who we are,” Fracheboud said. “The stretch goal is 40 locations, but we won’t compromise on our brand identity.”

Mandy’s at Kitchen Hub (Image: Unbound Productions)

Expanding Product Offerings and Automation

Beyond its restaurant expansion, Mandy’s is growing its product lines. The company’s salad dressings are already available in over 1,000 grocery stores across Canada, and a new grocery product is in the works. “We have one top-secret project that I will not disclose, but it’s a very fun one for groceries,” Fracheboud teased.

Mandy’s is also piloting automation to improve efficiency. “We are piloting a robot called Remy to help build salads faster,” she said. “It won’t prepare the entire salad, but it will do the foundation so our employees can focus on guest experience. Everyone is super excited about this initiative.”

Mandy’s Salads at The Well in Toronto (Image: Mandy’s Salads)

A Strong Canadian Identity

With recent economic and trade uncertainties, Mandy’s is working to ensure its supply chain remains strong by diversifying suppliers, investing in local farming partnerships, and optimizing logistics to minimize disruptions. “Approximately 10% of our food purchases come from the U.S., but we are bringing most of it back to Canada,” Fracheboud said. “We are all in this together, and we have to do what’s right for our country.”

Mandy’s also prioritizes Canadian-made products in its restaurant build-outs. “99.5% of our kitchen equipment is from Canada,” she said. “Even for decor items like ceramics, we are now being more diligent about sourcing locally.”

Looking Ahead

Mandy’s Gourmet Salads has come a long way since its humble beginnings in the back of a women’s clothing store in Westmount. Today, the brand is not just a restaurant chain but a lifestyle, offering cookbooks, grocery products, and a carefully curated dining experience.

With ambitious plans for 30-40 locations and a focus on quality over quantity, Mandy’s is set to become a household name across Canada. “We create something unique that will be very hard to recreate at home,” Fracheboud said. “Our customers keep coming back, and that’s what makes this journey so exciting.”

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Happy Belly Food Group’s iQ Food Co. QSR signs 20-Unit area development agreement in BC

Source: Happy Belly Food Group
Source: Happy Belly Food Group

Happy Belly Food Group Inc., a leading consolidator of emerging food brands, has announced that it has signed an area development agreement for British Columbia for the opening of 20 new franchised restaurants of Toronto-based QSR brand iQ Food Co.

The company said the brand will be “serving a variety of delicious and wholesome food options such as healthy bowls, smoothies, sandwiches, soups, and salads, along with other flavoruful clean-eating dishes that the whole family can enjoy.”

Sean Black
Sean Black

“Our accelerated expansion of the iQ Food business is a testament to our execution capabilities and the untapped potential we identified in the brand prior to acquisition. Following the completion of our 100% acquisition of iQ on September 18, 2024, we have moved quickly to identify growth opportunities for the brand. Today, we take another significant step forward with the signing of an area development agreement to open 20 new stores across British Columbia, bringing our total units under area development agreements for iQ to 65,” said Sean Black, Chief Executive Officer of Happy Belly.



“iQ is an emerging brand and disruptor in Canada’s premium healthy eating market, strategically positioned in urban and central business districts. It serves thousands of health-conscious customers from local businesses and is expanding its catering services to reach an even larger audience in densely populated downtown areas. This strategic approach has built strong brand recognition and fostered a loyal customer base, driven by word-of-mouth and, most importantly, satisfied customers.”

Black said the company is excited to continue working with seasoned Western Canada area developer, Stephen Travers, who has been with Happy Belly since 2023 and remains a key asset in franchise development for Happy Belly’s brands in British Columbia and Alberta.

“Stephen began as the first Extreme Pita franchisee and later became the inaugural Area Developer for Extreme Pita, Mucho Burrito, and Via Cibo. With over 23 years of QSR experience, he has an outstanding track record of rapidly developing brands in Western Canada, having built over 200 QSR restaurants. Stephen’s consistent ability to deliver exceptional results has been vital to our previous successes, and we are confident his expertise will continue to drive our growth forward,” explained Black.

“British Columbia has seen a surge in demand for nutritious, wholesome dining options among its health-conscious population, driven by active individuals and families who prioritize fitness, wellness, and balanced living. Its vibrant cities boast dynamic dining scenes where consumers seek innovative, flavorful meals that align with their pursuit of healthier lifestyles. British Columbia’s robust economy and high standard of living further support premium dining experiences, making it an ideal setting for those who refuse to sacrifice taste for health. In this environment, iQ’s offering of delicious, nourishing bowls, smoothies, sandwiches, soups, and salads perfectly meets the needs of families and individuals looking for quality, clean-eating options.”

Source: Happy Belly Food Group
Source: Happy Belly Food Group


Black said there is currently 476 contractually committed retail franchise locations from area developers across all emerging brands in the Happy Belly Food Group portfolio including those in development, under construction or already open.

“We are working to actively expand this pipeline significantly in 2025 & 2026 with our disciplined approach to growth. It is key for us to continue selecting the right franchise partners along with the right real estate in order to achieve our development goals for the brands,” he said.

“As the brand’s free cash flow grows, we anticipate accelerating our corporate store development timeline, supplemented by the growth of our franchise program.”

About iQ

iQ is a flagship brand in Canada’s premium healthy eating market and is strategically located in urban and central business districts. iQ serves a variety of delicious and wholesome food options such as healthy bowls, smoothies, sandwiches, soups, and salads, along with other flavorful clean-eating dishes that the whole family can enjoy. iQ caters to thousands of health-conscious customers from local businesses, while expanding into catering services to service an even greater audience in downtown densely populated areas. This strategy has fostered strong brand recognition and a loyal customer base driven by word-of-mouth and, most importantly, satisfied customers.

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PIANO PIANO Opens Stunning Three-Level Restaurant in Toronto

PIANO PIANO at 1006 Bloor St. W. in Toronto. Image supplied

Toronto’s celebrated Italian dining brand PIANO PIANO has unveiled its latest—and perhaps most striking—location at 1006 Bloor Street West. Nestled within the Paradise Theatre, the three-level restaurant brings together vintage elegance, bold design, and the signature culinary excellence that has made PIANO PIANO a staple in the city’s food scene.

Co-founded by Chef Victor Barry, Nikki Leigh McKean, and Brendan Piunno, PIANO PIANO has cultivated a loyal following with its contemporary take on Italian classics, paired with immersive and visually stunning interiors. The new Bloor Street West outpost is no exception, offering a dining experience that blends indulgence with nostalgia.

PIANO PIANO at 1006 Bloor St. W. in Toronto. Image supplied

A Design Inspired by Classic Hollywood and the Orient Express

The latest PIANO PIANO location is a feast for the senses, designed by the award-winning team at Future Studio, led by Ali McQuaid Mitchell. Known for their exceptional work on the brand’s other locations—including 88 Harbord Street, 623 Mount Pleasant Road, 55 Colborne Street, Oakville and Piccolo Piano Pizzeria on Harbord—Future Studio has once again created a space that transports guests into a world of glamour and grandeur.

The three levels of the Bloor restaurant feature opulent gemstone hues, mismatched exotic fabrics, and lush wall coverings that pay homage to the vintage allure of Hollywood’s Golden Age. Signature PIANO PIANO elements, such as bold chandeliers and custom animal print banquettes, add to the immersive experience.

“After walking through a new space, we always leave inspired by a fresh concept and let it evolve into something bigger than we imagined,” says McKean. “The long, narrow, light-filled layout here at Bloor is perfect for embracing bold contrasts and showcasing beautiful décor, hand-designed carpets, intriguing fabrics, and textures. We want guests to feel like they’ve stepped into a fantasy—a special escape.”

PIANO PIANO at 1006 Bloor St. W. in Toronto. Image supplied

An Evolved Menu with a Pre-Theatre Twist

As with all PIANO PIANO locations, the Bloor Street outpost offers a refined take on Italian cuisine, blending traditional flavours with innovative execution. Guests can expect the brand’s signature pizzas and pastas, alongside an expanded menu featuring premium dishes such as Ribeye, Rack of Lamb, Octopus, Lobster, Caviar, and Truffles.

A unique feature of the new restaurant is its specially curated Pre-Theatre Set Menu, designed for diners looking for a high-quality meal before heading next door to the restored Paradise Theatre.

“Our menu has evolved from our signature pizza and pasta to an elevated experience with dishes that celebrate indulgence,” says Chef Victor Barry. “This new restaurant feels like the ultimate setting for guests to feast on all of these tasty & f*#kin’ delicious dishes!”

PIANO PIANO at 1006 Bloor St. W. in Toronto. Image supplied

A Growing Legacy in Toronto’s Dining Scene

PIANO PIANO Bloor marks the brand’s fifth restaurant location, continuing its expansion across the Greater Toronto Area. Since its inception in 2016, when Chef Barry and McKean first launched PIANO PIANO on Harbord Street, the brand has steadily grown, now operating five restaurants as well as its sister brand, Piccolo Piano Pizzeria.

Beyond the restaurants, PIANO PIANO has also made its mark in the frozen food industry, with its PIANO PIANO Frozen Pizza line becoming the largest producer of premium frozen pizza in Canada. Looking ahead, the team is set to open two more restaurant locations in 2025, further solidifying its presence in the market.

PIANO PIANO at 1006 Bloor St. W. in Toronto. Image supplied

A Destination for Various Occasions

PIANO PIANO Bloor is positioned to become a go-to destination for casual lunches, happy hours, intimate dinners, and celebratory nights out. With its dramatic design, inviting atmosphere, and carefully curated menu, the restaurant captures the essence of what has made PIANO PIANO such a beloved name in Toronto’s dining landscape.

Located at 1006 Bloor Street West, PIANO PIANO Bloor is open daily from 12 p.m. until late, offering lunch, dinner, and everything in between. 

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Carl Boutet’s ‘Blind Spot’ Explores Retail’s Future Disruptions

Montreal-based retail strategist and industry thought leader Carl Boutet has released his latest book, Blind Spot, which examines the technological and operational disruptions shaping the future of commerce. In an in-depth interview, Boutet discussed the genesis of the book, the critical blind spots retailers must address, and the evolving role of artificial intelligence (AI) in the industry.

Boutet’s journey to writing Blind Spot began in December 2022 while he was teaching a digital marketing course for MBA students in Hanoi, Vietnam. It was during this time that he first encountered ChatGPT, an AI tool that would later redefine content generation and digital interactions.

“I was reading an article that said, ‘Could this be the Google killer?’” Boutet recalled. “I was teaching digital marketing at the time, so I had to ask—what could possibly kill Google? Then I saw it was OpenAI’s ChatGPT, and I was intrigued.”

Carl Boutet

One of his students, a chief information officer for a large medical company in Vietnam, used ChatGPT during a class break and was impressed with its ability to generate a coherent, well-structured memo in Vietnamese.

“That was my blind spot moment,” Boutet said. “I had been following AI, but I still didn’t see this leap coming. It made me realize how easily we can be caught off guard, especially in retail.”

The Biggest Blind Spot in Retail

Boutet believes that retailers, in their pursuit of operational excellence, risk becoming too myopic, failing to anticipate emerging trends and technological shifts. He likens this to companies developing “blinders” by focusing too much on short-term efficiency.

“During the pandemic, retailers experimented with everything—Metaverse, digital transformation, you name it. Now, they’re back to basics, trying to optimize operations. But by being too focused, they risk missing the next disruption,” he explained.

One of the biggest technological blind spots is the thickening digital layer surrounding retail. “We’re seeing an evolution where digital and physical retail are no longer separate but intertwined,” said Boutet. “Companies like Meta and Apple are investing in spatial computing, augmented reality, and wearable technology to create immersive, contextual shopping experiences.”

The Risk of Over-Reliance on AI

While AI offers significant advantages in automation and personalization, Boutet warns that retailers must strike a balance between efficiency and human interaction.

“AI should be used to augment human capabilities, not replace them,” he emphasized. “If everyone leans too heavily on AI, we end up in a ‘sea of sameness’ where everything feels generic and undifferentiated.”

Boutet also noted that retailers panicked when OpenAI experienced a brief outage. “Some businesses had become so dependent on it that they felt like they couldn’t function,” he said. “That’s a warning sign. We still need critical thinking, creativity, and human oversight.”

Addressing Algorithmic Bias

With AI-driven personalization becoming the norm, Boutet highlighted the importance of addressing algorithmic bias, which can create unintended discrimination in customer interactions.

“Bias is embedded in data, and retailers must be aware of how it influences AI-driven recommendations,” he said. “One way to counteract this is through rigorous A/B testing and ethical oversight.”

Boutet pointed out that consumer privacy remains a pressing concern. “Retailers need to strike a balance between personalization and the ‘creepiness factor.’ If a customer feels like you know too much about them, you’ve crossed a line.”

The Future of Multichannel Shopping

For retailers aiming to create seamless omnichannel experiences, Boutet advised considering the shifting mindsets of consumers as they move between digital and physical spaces.

“A customer might browse shoes online but expect a different experience in-store,” he said. “Retailers should avoid making assumptions and instead focus on offering flexible, adaptable shopping journeys.”

AI’s Impact on Supply Chain and Last-Mile Delivery

Boutet sees AI revolutionizing logistics, with advancements in predictive analytics and automation.

“In supply chain management, AI helps retailers anticipate the unforeseeable—whether that’s weather disruptions, geopolitical events, or demand fluctuations,” he explained. “Maxime Cohen, my colleague specializing in demand prediction, has shown how data-driven models optimize everything from inventory management to pricing strategies.”

Boutet remains intrigued by the potential of autonomous delivery, whether through drones or ground vehicles. 

“Companies like Amazon have been promising drone deliveries for years, but we’re not there yet,” he said. “The technology is advancing, and AI-powered logistics will play a massive role in shaping last-mile delivery.”

The Role of Blockchain in Retail

Although blockchain technology was initially lumped into the Metaverse hype, Boutet believes it still holds significant potential for supply chain transparency.

“Retailers are under increasing pressure to demonstrate sustainability and traceability,” he noted. “Blockchain’s distributed ledger system can help authenticate product origins, ensuring ethical sourcing.”

Ethical AI and Governance in Retail

Boutet emphasized the need for retailers to embed ethical AI governance into their strategies from the outset.

“There’s a temptation to push boundaries simply because the technology allows it,” he said. “But retailers must ask, ‘Just because we can do this, should we?’ Implementing strong governance frameworks early on will prevent future reputational damage.”

He also linked ethical AI use to brand differentiation. “Retailers with a clear purpose and ethical approach will stand out in an increasingly homogenized market,” he explained.

The Rise of Immersive Commerce

Boutet predicts that immersive commerce—where digital layers enhance physical shopping experiences—will become a key driver of engagement.

“This goes beyond augmented reality or digital signage,” he said. “We’re talking about multi-sensory experiences, from audio cues to haptic feedback. The real bottleneck isn’t the software—it’s the hardware. Consumers won’t adopt immersive commerce en masse until wearable tech becomes seamless and comfortable.”

Preparing for the Future

As retail continues evolving at an unprecedented pace, Boutet hopes Blind Spot will serve as a guide to help industry leaders stay ahead of disruptions.

“During the pandemic, governments cushioned the blow for retailers,” he noted. “If another crisis—whether climate, geopolitical, or technological—hits, we won’t get the same pass. Retailers need to be proactive, adaptable, and ready for the next disruption.”

He closed with a crucial takeaway: “Technology is just one piece of the puzzle. Retail success ultimately comes down to culture and how organizations foster innovation.”

With Blind Spot, Boutet challenges retailers to recognize unseen risks and embrace the future of commerce with both curiosity and caution.

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Major surge in Canadian patriotism for consumers: Harris Poll

Photo by Andrea Piacquadio
Photo by Andrea Piacquadio

Petro-Canada, in partnership with The Harris Poll, has just completed the Live by the Leaf Index—a national study uncovering how Canadians’ purchasing decisions are changing in response to the current economic and political climate. The data reveals a major surge in Canadian patriotism, with eight in 10 Canadians rethinking their purchase decisions and a majority willing to pay more, wait longer, or even change their go-to brands to support Canadian businesses.

Some key findings:

  • 80% of Canadians plan to try new brands to buy Canadian.
  • 63% are willing to pay more, and 64% would travel further to support local brands.
  • Recently, one in three Canadians have swapped a usual purchase for a Canadian-made product.
  • 72% would delay their purchases to buy Canadian
Sara Cappe
Sara Cappe

Sara Cappe, Canadian President of The Harris Poll, said it’s a really interesting time in the consumer landscape in Canada.

“I think we’re seeing a degree of patriotism that’s surging. It’s been a long time that Canadians have felt this way. Canadians are not just exhibiting this in sentiment, but also in terms of their purchasing decisions. They’re really rallying to support their country, support Canadian businesses, and the strength we have as Canadian consumers to buy Canadian and support Canadian.”

Cappe said the data is indicating that Canadians are saying they’re willing to pay more, they’re willing to drive further, and they’re even willing to even wait longer for Canadian products.

“We’re seeing Canadians willing to make some hard sacrifices if needed. In the data, 76% of Canadians are willing to pay a premium for Canadian, and 64% are willing to travel a little bit further to support local brands. So, we’re seeing this rallying cry for supporting local that we haven’t really seen previously. It’s really shifting Canadians’ purchasing decisions fundamentally,” explained Cappe.

“I think it’s certainly something we’re going to be tracking and evaluating. We are seeing this shift, and it seems to be a little bit more permanent for Canadian consumers. Canadian companies are also hearing what Canadian consumers want and trying to help them buy Canadian and support Canadian. It’s going to have to be a two-way street in that way—a joint effort for Canadian companies to show Canadians the value of supporting local, and Canadians also reciprocating.”

What was really interesting in these results is that Canadians, by and large, are quite unified, and we usually don’t see such widespread agreement across the board, whether regionally or demographically. That’s where we start to see the potential for this sentiment to be more permanent or long-lasting.

“We’re seeing a widespread unification of the country,” added Cappe.

“It’s a really interesting time right now, and buying Canadian isn’t just something that Canadians are doing—they’re talking about it with friends and family. It’s certainly resonating in online and social conversations.”

Canadian Grace: 100% women-owned Ontario-based wellness brand launches amid Buy-Canadian movement

Shagufta Sheikh, Founder of Canadian Grace.
Shagufta Sheikh, Founder of Canadian Grace.

As Canada-U.S. trade tensions fuel a growing Buy Canadian movement, a 100% women-owned Ontario-based brand is stepping up to provide a premium homegrown alternative. Canadian Grace has officially launched with a mission to offer ethically-sourced, organic, and natural skincare products—crafted and distributed from Canada.

The company is entering the market at the perfect time as more consumers are prioritizing Canadian-owned brands. It also gives people in Ontario an opportunity to support women entrepreneurs while choosing high-quality, sustainable beauty products.

“This is more than just a launch—it’s a movement,” said Shagufta Sheikh, Founder of Canadian Grace. “By choosing Canadian Grace, consumers invest in Canadian women entrepreneurs, ethical business practices, and sustainability.

“Ontario consumers want businesses they can trust—ones that prioritize sustainability, ethical sourcing, and economic growth at home. Canadian Grace is here to deliver exactly that.”

Shagufta Sheikh, Founder of Canadian Grace.
Shagufta Sheikh, Founder of Canadian Grace.

An Ontario-Based Brand Committed to Ethical Beauty

As one of the few 100% women-owned wellness brands in Ontario, the company says it is redefining clean beauty by prioritizing fair trade sourcing and sustainability.

“The launch collection features a selection of organic and natural skincare essentials, using premium ingredients sourced ethically from around the world through fair trade partnerships. While sourcing is global, the retailer ensures that every product is crafted, branded, and distributed by a proudly Ontario-based business—offering consumers a meaningful way to support local entrepreneurship,” it says.

Consumers can purchase Canadian Grace products on Amazon Canada and through the brand’s official website at www.canadiangrace.ca, ensuring easy access to a locally owned, women-led wellness brand.

A Timely Launch for Ontario Consumers

“As Ontarians shift toward supporting locally owned businesses, Canadian Grace is entering the market at a crucial time. Recent economic discussions, trade tariffs, and a focus on Canadian entrepreneurship have fueled consumer interest in homegrown brands,” says the company.

“The brand is also seeking partnerships with Ontario retailers, wellness advocates, and sustainability organizations to expand its presence across the province.”

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Consumer pessimism amid rising geoeconomic risks: Conference Board of Canada

Source- Conference Board of Canada
Source- Conference Board of Canada

The Conference Board of Canada says its Index of Consumer Confidence fell 12.1 points to 52.6 (2014 = 100) in February, the largest decrease in a year and a half.

Here are some of the key findings from the latest Index:

  • After showing some improvement in the previous month’s survey, the index of consumer confidence has now fallen to levels similar to the pandemic era, marking the third largest drop in confidence since April 2020. This month’s decline in confidence is widespread across all regions, with the balance of opinion worsening in all survey questions.
  • The biggest decline in confidence was observed in overall finances. The share of households perceiving a deterioration in their current financial situation rose 2.7 percentage points to 33.9 per cent. Simultaneously, the proportion of consumers foreseeing a degradation in their future financial outlook increased 3.7 percentage points to 29.2 per cent, the largest proportion in two years.
  • Despite signs of economic stabilization, the outlook for personal finances remains dim, suggesting that factors beyond moderating headline inflation and falling interest rates are shaping the consumer sentiment.
  • Views on major purchases followed a similar trend. The share of consumers thinking it is a bad time to make a major purchase increased 3.5 percentage points to 62.6 per cent. However, there has been some improvement when compared to last year. The proportion of households viewing it as a bad time to make a major purchase decreased by 2.1 percentage points compared to February 2024.
  • Sentiments about the labour market have been downbeat for the last couple of years and this month is no different. When asked about future job prospects, the proportion of respondents anticipating fewer job opportunities six months from now increased 9.0 percentage points to 41.0 per cent, the largest share in 4 years. Meanwhile, the proportion of respondents expecting better employment prospects declined by 1.1 percentage points to 6.2 per cent.
Source- Conference Board of Canada
Source- Conference Board of Canada

“While no broad tariffs have been imposed yet, the uncertainty surrounding their occurrence is weighing on consumer confidence. Even with stabilizing inflation and a continuing key rate-cutting cycle, the looming trade war across the border is fueling concerns among consumers, affecting their economic and financial outlook,” said the Conference Board.

“The imposition of tariffs on Canadian goods is expected to adversely affect numerous domestic industries, potentially resulting in job losses and bankruptcies. On the other hand, the introduction of retaliatory tariffs, coupled with a weakening loonie, is likely to create inflationary pressures, eroding consumers’ purchasing power, further exacerbating financial strain and contributing to broader economic challenges.

“The imposition of broad tariffs by the U.S., Canada’s major trading partner, would represent a shock of significant magnitude, perhaps eventually leading into a period of recession while simultaneously fueling inflation. Such circumstances will challenge the Canadian monetary policymakers as the central bank will be forced to navigate the delicate balance of combating rising prices while attempting to stimulate growth in a shrinking economy.”

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U.S. Trade Concerns Drive Canadian Consumer Confidence Down

Canadian Consumer Confidence - image, iStock

In a concerning sign for Canada’s economy, a new report from the Conference Board of Canada reveals that consumer confidence has dropped to its lowest point in over a year. The Index of Consumer Confidence, which measures the public’s sentiment about the economy, fell by more than 12 points in February 2025, reaching a value of 52.6. This marks the largest one-month drop since the global financial crisis, and is a significant departure from the stable confidence levels seen in the past.

The February decline follows a similar trend in the U.S., where the Conference Board’s American counterpart reported a seven-point drop to 98.3 for February 2025, reflecting growing concerns over inflation and the potential economic impact of trade wars. However, it is Canada’s deepening fears over a potential trade dispute with the U.S. that appear to be at the heart of this decline in consumer confidence.

Impact of U.S. Tariffs on Canadian Consumers

According to the report, Canadian consumer confidence has been negatively influenced by fears of looming trade tensions with the United States, particularly in the form of tariffs. The U.S. administration, led by President Trump, has been vocal about the possibility of broad tariffs on Canadian imports. These include 25% tariffs on steel and aluminum, effective as of March 12, 2025, as well as the possibility of more tariffs to be implemented by March 4, 2025.

The threat of tariffs has left Canadians worried about the broader economic consequences. The manufacturing sector, which could be especially vulnerable to such trade restrictions, is particularly feeling the strain. Workers in these industries, many of whom fear potential job losses, are increasingly concerned about the ripple effects of a trade dispute between the two countries. The prospect of tariffs triggering job cuts in manufacturing is contributing to heightened anxiety about the Canadian economy.

Personal Finances and Economic Outlook

The concerns about trade disruptions are compounded by a worsening outlook for personal finances. The Conference Board’s report shows that 33.9% of Canadians feel that their financial situation is deteriorating, an increase of 2.7 percentage points from the previous month. This signals growing financial unease among Canadian consumers, many of whom are already dealing with the aftereffects of inflation, high living costs, and rising interest rates.

While inflation has shown some signs of stability and interest rates have begun to fall, the possibility of tariffs could derail any hope for economic growth in 2025. Forecasters had initially expected a rebound in consumer spending, which would help stimulate the economy. However, with confidence faltering, the outlook for a robust recovery is now in question.

Consumer Spending and Big-Ticket Purchases

The decline in consumer confidence is also evident in Canadians’ reluctance to make major purchases. The Conference Board found that 62.6% of Canadians believe that it is a bad time to make a significant purchase, such as a new car or home appliance. While this pessimism is still lower than last year, it points to a general sense of unease about large expenditures.

As Canadians grow more cautious about their spending, many are opting to save rather than spend. This shift could have a ripple effect on businesses that rely on consumer spending, especially in industries like retail, real estate, and automotive sales. With consumers hesitant to open their wallets, economic growth may face a further slowdown in the coming months.

Job Outlook and Workforce Sentiment

Alongside concerns about personal finances, Canadians are also expressing growing pessimism about job opportunities. The Conference Board’s index indicates that sentiment about future employment prospects has reached its lowest level in more than four years. The threat of trade disruptions and the potential for job losses in manufacturing sectors are contributing to this negative outlook.

Despite some improvements in the broader economy, the job market remains uncertain. For Canadians working in industries tied to international trade, the prospect of tariffs poses a direct threat to job security. In turn, these concerns are influencing consumers’ decisions to hold back on making large purchases or investments.

The Path Forward: Can Confidence Be Recovered?

Despite the current dip in confidence, there is still hope that the situation could improve if Canadian officials are able to successfully navigate the trade dispute with the U.S. and reach a favourable resolution. Negotiations between the two countries could potentially avert the looming tariffs and offer a pathway to restoring stability in consumer confidence.

However, until such a resolution is reached, Canadian consumers may continue to adopt a cautious approach to spending, which could impact businesses across various sectors. For now, many are expected to prioritize savings over expenditures, further dampening consumer activity.

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RCC Prepares for US Tariffs as Trade Tensions Escalate

Peace Arch Crossing in BC. Photo: ©2016 Michael Russell Photography

The Retail Council of Canada (RCC) says it is actively preparing for a range of potential trade challenges as US President Donald Trump announced new tariffs on Canadian imports, set to take effect on March 4, 2025. The proposed tariffs include a broad 25% levy on all goods, with an additional 25% tariff on steel and aluminum scheduled to follow on March 12. These measures could prompt Canada to implement countermeasures, further escalating trade tensions between the two nations.

RCC’s Strategic Response

With uncertainty looming over Canada’s trade landscape, RCC said in a statement that it is working closely with government officials and industry stakeholders to mitigate the impact on Canadian retailers. The organization is focused on ensuring that businesses remain informed while advocating for solutions that minimize disruption.

Engaging with Government Officials

RCC is in direct communication with senior officials across the Canadian government, advocating for a coordinated and strategic response to the proposed tariffs. Ensuring a swift and unified approach is crucial in mitigating potential economic fallout.

Media and Industry Outreach

As part of its advocacy efforts, RCC is actively engaging with the media to keep the public and businesses informed about potential trade implications. The organization is also participating in key trade-focused groups, including the Canada-US Trade Council and the Forum on Canada-US Issues, where industry leaders and policymakers discuss possible countermeasures.

Industry Discussions with US Counterparts

Recently, RCC facilitated a meeting with David French, Executive Vice President of Government Relations at the National Retail Federation (NRF). During his visit, French met with RCC members to discuss the tariff threats and strategize on mitigating their impact on North American retailers.

Delegation to Washington, DC

In an effort to prevent the escalation of trade tensions, RCC will be part of a delegation of Canada-US supply chain representatives traveling to Washington, DC next week. The delegation will meet with both Canadian and American government officials to discuss trade concerns and advocate for a resolution that supports cross-border retail.

Meeting with Bank of Canada Governor

On March 17, RCC is scheduled to meet with Tiff Macklem, Governor of the Bank of Canada. The discussions will focus on the Canadian dollar’s fluctuation and its effect on purchasing power, as well as broader economic trends that could influence retail pricing and supply chains.

The Impact of Tariffs on Canadian Retailers

The proposed tariffs could significantly affect Canadian retailers, particularly those importing goods from the US. The 25% tariff on all goods could drive up costs for businesses and consumers alike, while the additional steel and aluminum tariffs may lead to increased prices on everything from appliances to construction materials.

Retailers operating in sectors that rely heavily on US imports—such as apparel, electronics, and automotive parts—could see the most immediate impact. In response, some businesses may seek alternative sourcing strategies, including increasing imports from other international suppliers.

Canada’s Potential Counter-Tariffs

Should the US move forward with the proposed tariffs, Canada is expected to respond with countermeasures. While the details of potential retaliatory tariffs have yet to be finalized, previous trade disputes have seen Canada impose levies on a range of US goods, including steel, aluminum, food products, and consumer goods.

RCC says it is closely monitoring the situation and is working alongside government and industry leaders to mitigate any negative consequences for Canadian retailers.

What’s Next?

At this time, the announced tariffs remain a looming threat — Donald Trump said Monday that tariffs were going ahead. The Canadian government, with RCC’s support, continues to explore avenues to prevent their implementation. In the coming weeks, stakeholders will remain engaged in diplomatic efforts, industry discussions, and policy advocacy to ensure that Canadian trade interests are protected.

RCC says it will provide updates as the situation unfolds, ensuring retailers remain informed and prepared for any trade policy developments.

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