Grab a coffee and step away from the chaos with us for an hour on Wednesday, November 27th for the 2024 Black Friday Breakdown.
Join our experts for a thought provoking play-by-play of what to expect for BFCM this season and how not to get overwhelmed by the year’s biggest shopping event.
Tara, Craig & David will be sharing stories and impact from their combined years of retail and advisory experience, so you’ll learn about:
The state of Canadian retail and economic factors affecting shoppers
How top brands have prepared for the holiday season in 2024
Trends in BFCM strategy and how promotional tactics are evolving
Clicks vs. Bricks: how e-commerce and omnichannel are impacting customer experience
How emerging tech is impacting the next wave of retail innovation
Raise, a global leader in gift card innovation, has launched in Canada, marking its second major international expansion this month. The move follows its recent entry into the United Kingdom and reinforces Raise’s commitment to revolutionizing how consumers and businesses interact with gift cards, loyalty programs, and digital payments. With over 6 million users and $10 billion in transactions, Raise says it aims to make shopping more rewarding for Canadians.
Raise App Launches in Canada
The Raise App is now available in Canada, offering users the ability to shop with their favorite brands while earning cashback rewards through “Raise Cash.” The platform simplifies the gift card experience from purchasing to redemption, providing a seamless and value-driven approach. The app is designed for Canadians who prioritize convenience, savings, and innovation in their shopping habits.
New Opportunities for Canadian Businesses
Canadian businesses can also benefit from Raise’s advanced B2B API solution, which supports digital card distribution and enhances loyalty programs. The technology allows businesses to integrate Raise’s ecosystem, offering secure and efficient ways to engage customers and improve their shopping experiences.
“Our expansion into the Canadian market underscores our mission to deliver a better gift card and digital payment experience,” said George Bousis, Founder and CEO of Raise. “Canada is an exciting opportunity for us to connect with consumers and businesses who value innovation and savings. We’re thrilled to support Canadians in shopping smarter and earning more.”
Blockchain and Cryptocurrency Integration
Raise’s Canadian launch includes innovative features like blockchain technology and cryptocurrency support, providing users with more flexibility in how they use and manage gift cards. Through BFG Labs, Raise leverages blockchain technology to combat fraud, reduce inefficiencies, and create a dynamic loyalty ecosystem tailored to modern retail demands.
This blockchain-driven approach offers Canadian retailers a cutting-edge solution to optimize loyalty programs and protect against fraud, positioning Raise as a leader in secure and advanced digital payment systems.
Benefits for Retailers and Consumers
For Canadian retailers, Raise provides real-time gift card activation and redemption, along with advanced fraud prevention tools. These features allow businesses to offer secure, flexible solutions to attract and retain customers in an increasingly competitive retail environment.
Consumers benefit from an intuitive shopping platform that enables them to save more while enjoying a seamless purchasing experience. By bridging traditional and digital payment systems, Raise ensures its technology meets the needs of today’s shoppers and businesses alike.
Part of a Global Expansion
Canada is part of Raise’s broader strategy to expand its innovative gift card solutions worldwide. With partnerships spanning over 1,000 global brands and a network of over one million stores, websites, and applications, Raise plans to extend its B2B offering to 30 additional countries.
Since its founding in 2012, Raise has facilitated over $10 billion in transactions through its consumer app, exchange platform, and B2B operations. The company says it remains committed to enhancing how gift cards are used, making them more accessible, flexible, and rewarding.
Retail Insider is streamlining its Canadian retail news from around the web to include a handful of top news stories that can be viewed quickly during the day. Here are the top stories from the past 24 hours.
Walmart Canada is investing $46 million in pay increases and enhanced benefits for its supply chain associates, marking the latest step in the retailer’s commitment to workforce development.
This investment comes on the heels of Walmart Canada’s earlier announcement of $145 million in wage improvements for logistics, fleet, and retail associates earlier in 2023. The latest initiative aims to offer competitive pay, strengthen retention, and attract new talent in the highly competitive retail sector.
“Walmart Canada is people-led, and we’re proud to offer competitive wages and some of the best benefits plans in the Canadian market,” said AnnMarie Mercer, Chief People Officer at Walmart Canada. “Investing in our people is critical to making sure we continue to attract great associates who want to stay and grow with us.”
Enhanced Compensation and Benefits for Walmart Associates
The $46 million investment enhances Walmart Canada’s compensation package, which already includes:
Annual performance-based bonuses for associates.
Comprehensive health and dental benefits, including mental health care and fertility treatments.
24/7 virtual healthcare access and employee assistance programs through TELUS Health.
A 10% discount card for groceries and merchandise at Walmart stores and Walmart.ca.
Retirement and stock purchase plans, including deferred profit-sharing options.
These benefits underscore Walmart Canada’s focus on offering a comprehensive total rewards package. Regular compensation reviews ensure associates remain among the best compensated in the industry.
“Walmart Canada has a best-in-class supply chain, and our associates are critical to helping us serve our customers,” said Matt Kelly, Vice President, Supply Chain, Walmart Canada. “This newest investment underlines our deep appreciation for our associates’ consistent hard work and dedication.”
Education and Skills Training Initiatives
Walmart Canada continues to invest in the future of its associates through education and skills development. The Live Better U (LBU) program, launched in September 2023, covers 100% of tuition and book costs for eligible associates. The program is designed to equip workers with skills for the jobs of tomorrow, helping Walmart Canada meet evolving business needs.
Since its launch, more than 3,000 associates have participated in the initiative, solidifying Walmart Canada’s commitment to employee growth and retention.
Walmart Canada’s Role as a Leading Employer
As one of Canada’s largest employers, Walmart Canada operates over 400 stores nationwide and employs more than 100,000 associates. Its online platform, Walmart.ca, serves over 1.5 million daily visitors, making it a key player in Canadian retail.
Beyond its workforce, Walmart Canada has a strong philanthropic presence, contributing over $750 million to Canadian charities since 1994.
By continuously investing in its associates, Walmart Canada says that it is reaffirming its position as a leading employer and innovator in retail workforce development.
The Retail Council of Canada (RCC) has expressed strong support for the federal government’s recent decision to remove GST and HST on a range of goods, a move designed to provide tax savings for Canadians and stimulate the retail economy during the critical holiday season.
The measure, which exempts items such as children’s clothing, toys, and Christmas trees from sales taxes, is expected to bring a much-needed boost to family-focused retailers during one of the most important times of the year.
Matthew Poirier, Vice President of Federal Government Relations for the Retail Council of Canada (RCC)
“This is a significant step forward,” said Matthew Poirier, VP of Federal Government Relations at RCC, in an interview. “Retailers are excited about the potential this brings for increased sales, but there are operational hurdles they need to clear quickly, especially with the holiday rush already underway.”
Boosting Consumer Spending During Peak Shopping Season
The tax holiday comes at a time when many Canadians are grappling with rising costs, and the relief is expected to translate into increased consumer spending. The timing aligns with Black Friday and the holiday shopping season, allowing families to stretch their budgets further.
“Families across Canada are set to benefit, particularly those shopping for children’s toys and clothing,” Poirier explained. “These categories represent a large portion of holiday spending, and this exemption provides some breathing room for parents feeling the financial squeeze.”
In addition to the tax savings, a $250 rebate for Canadians earning less than $150,000 annually is scheduled for early 2025. Combined, these measures aim to stimulate spending into the first quarter of the year, typically a slow period for retailers.
“This is about more than just the holidays,” Poirier noted. “The rebate and tax exemptions together will keep cash circulating in the economy well into January and February, helping retailers navigate a challenging post-holiday slump.”
Challenges for Retailers: Short Timelines and Operational Adjustments
Despite the positive outlook, retailers face tight deadlines to adapt their systems and processes to the new policy. “It’s a race against time,” said Poirier. “Retailers need to confirm which items qualify, update their point-of-sale systems, and train staff—all within three weeks. It’s a heavy lift during what is already the busiest season of the year.”
The operational challenges are compounded by the inclusion of specific categories, such as children’s clothing and toys, but not others like adult apparel. This selective application of the tax holiday has left some retailers disappointed.
“Many apparel retailers have struggled in recent years,” Poirier admitted. “The inclusion of adult clothing could have been a lifeline for some. We remain optimistic about the overall impact of the policy.”
Broader Economic and Industry Implications
The policy is being viewed as a bold move to stimulate economic activity during a period of economic uncertainty. Experts believe that the combined impact of tax relief and cash rebates could boost retail sales significantly.
“This kind of initiative doesn’t happen often,” Poirier noted. “We’re seeing both direct and indirect benefits: families saving money, and those savings translating into increased spending across the retail sector.”
For categories excluded from the tax holiday, such as adult clothing, the $250 rebate could still drive additional consumer spending. “Even if your goods aren’t exempt, there’s still more money in consumers’ pockets,” Poirier said. “That’s a win for everyone.”
Uneven Impact Across Provinces
While the GST holiday applies uniformly across provinces with harmonized sales taxes (HST), such as Ontario and the Maritimes, non-harmonized provinces like British Columbia, Saskatchewan, Manitoba, and Quebec will require separate provincial action to offer similar tax relief.
“RCC strongly encourages these provinces to follow suit,” Poirier said. “Without alignment, consumers and retailers in those regions may feel left out, creating an uneven playing field across Canada.”
Retailers in non-harmonized provinces could face additional complexity as they navigate differing tax rules, potentially adding confusion for consumers shopping both online and in-store.
Addressing the Canada Post Strike: A Key Concern
The RCC also highlighted another pressing issue: the ongoing Canada Post strike. The strike threatens to undermine the positive impact of the GST holiday by delaying deliveries during the holiday season.
“This GST holiday is a positive development, but its benefits will be limited if shoppers can’t get their purchases on time,” warned Poirier. “We’re urging the government to prioritize resolving the strike as quickly as possible to protect both retailers and consumers.”
He emphasized that retailers are already dealing with the aftermath of previous supply chain disruptions caused by other strikes earlier in the year. “It’s been one challenge after another,” Poirier said. “While we’re optimistic, the postal strike adds a layer of uncertainty during an already complex time.”
Tree Planting Activities - Nespresso Canada (CNW Group/Nestle Nespresso SA)
For the fourth consecutive year, is partnering with Tree Canada, the country’s largest tree-planting charity organization, as a means of contributing to national greening and the fight against climate change.
To date, the B Corp certified company has donated over $533,000 and has helped plant some 114,000 trees throughout Canada, it said in a news release.
Nespresso Canada said it has donated $100,000 to Tree Canada’s “Operation ReLeaf” program which seeks to restore areas that have experienced significant tree loss due to natural disasters and the effects of climate change. For over 20 years, “Operation ReLeaf” has been helping communities recover from devastating events, promoting resilience and biodiversity in urban forests.
Carlos Oyanguren
“This $100,000 donation signals our ongoing commitment to reforestation in Canada, as well as our support for local communities at a time when the challenges posed by natural disasters are becoming even greater. The donation is also aligned with our broader commitment to coffee producers who rely on healthy ecosystems. Thanks to firmly rooted partnerships, like the one we maintain with Tree Canada, we are able to significantly impact our local ecosystem and achieve our shared sustainability goals,” said Carlos Oyanguren, President of Nespresso Canada.
Nicole Hurtubise
“Partnerships with committed sponsors like Nespresso Canada are incredibly meaningful to our organization,” explained Nicole Hurtubise, CEO of Tree Canada. “Their ongoing support of our programs and mission helps us grow our nationwide impact and increase awareness about the fundamental importance of trees for our environment and communities among Canadians.”
In 2023, Nespresso said it also made a $100,000 donation to the same program, with plantings planned in Manitoba and British Columbia in 2024. To date, close to 70,000 trees have been planted thanks to Nespresso in Manitoba’s Interlake region in an effort to regenerate its boreal forest which was devastated by fires in 2021. As part of that same project, members of Indigenous communities received comprehensive training in forestry operations, it said.
Nespresso employees part of the solution
“Other projects supported by Nespresso Canada through this same program are currently underway in British Columbia in response to the province’s many fires in recent years, including forest fires in Elephant Hill (2017), McDougall Creek (2023) and Shetland Creek (2024),” said the company.
“Nespresso Canada employees are part of the solution, too. Each year more than one hundred employees take part in tree planting activities within Tree Canada’s “Partners in Planting” program. In addition to inspiring a genuine collective movement, this allows us to contribute to major projects from coast to coast aimed at building a more sustainable future.
“This fall, activities have allowed us to plant 250 trees in Quebec, 170 trees in Ontario and 325 in British Columbia.”
French chocolatier Jeff de Bruges has opened its fourth Canadian location, setting up shop at Montreal’s Royalmount development.
The 664-square-foot store opened November 18 and is an ideal fit for the luxury shopping centre, which anchors the innovative mixed-use development in the heart of city, said Think Retail in a post on its website.
The company is working with the chocolatier for the retailer’s real estate needs.
“In recent months, Think Retail has announced an array of exciting new retailers opening at Royalmount and we are thrilled to add Jeff de Bruges to the centre’s marquee tenant mix,” it said.
“With strong branding and stores that are beautifully designed to showcase a delicious collection of chocolates, ice cream and decadent treats, Jeff de Bruges is right at home. In 1986, Philippe Jambon founded the Belgian chocolate company in France: Today, there are more than 500 stores across France, as well as dozens of locations in 17 countries.
“The concept debuted here in 2014 and Royalmount marks Jeff de Bruges’ fourth store in Canada. The network also includes a beautiful 750-square-foot space at the Montreal Eaton Centre; a 175-square-foot kiosk at Carrefour Industrielle Alliance in the heart of the city’s pedestrian network; and a 904-square-foot store in Carrefour Laval. Montrealers love the company’s decadent menu, which is constantly evolving and delighting customers.”
Think Retail said that expansion continues and the goal for 2025 is to open more stores in Quebec, with a focus on 500- to 850-square-foot locations in super regional malls only.
In addition, the brand is considering opening the first Ontario store, with an eye on Ottawa.
Happy Belly Food Group Inc., a leading consolidator of emerging food brands announced Thursday its interim financial results and corporate update for the quarter ended September 30.
“I am happy to see the progress that our management team, alongside our brand partners and franchisees achieved in Q3. Our third quarter results demonstrate the strength of our brands and the power in creating what is quickly becoming the leading consolidator of emerging brands in Canada,” said Sean Black, Chief Executive Officer of Happy Belly.
“With our 10th consecutive record setting quarter in total revenues, you can see our commitment to creating value for our shareholders as we continue to execute our strategy. We are delivering organic and inorganic growth across the company’s operations meanwhile staying financially disciplined. Our accretive M&A strategy included the acquisition of IQ Foods in September 2024, which included four restaurants located in the downtown core of Toronto, Ontario.
“In Q3 2024, we once again achieved record revenues and positive EBITDA for BOTH our QSR and CPG segments. Each quarter has resulted in significant QoQ momentum while continuing to accelerate our growth, improve operations within our businesses and deliver strong and consistent results for our shareholders. We are very focused on delivering more organic growth in Q4 2024 and throughout 2025.”
Its brands include Holy Crap Cereal, Heal Wellness, Lumberheads, Lettuce Love Cafe, Joey Turks Island Grill, PIRHO, Rosie’s Burgers, Yolks, Via Cibo. It also has IQ Foods and Salus Fresh Foods.
“We’ve been active and very happy with where we’re at,” said Black. “It’s been a few years we’ve been working towards this. Now we’re finally at a point where we’re getting more known. So it’s a little easier with landlords, a little easier with M&A (mergers and acquisitions) as you build a bit of a track record in the industry.”
Happy Belly continues to grow its portfolio
By the end of the year, Black said the company anticipates having about 50 restaurants open. It has about 40 stores open currently.
“We have 421 contractually committed deals with our brands. When someone says what’s the potential. That’s the key here for us to continue to deliver on that growth,” he said. “It’s a maximum 10-year timeline.
“The first one that’s probably going to be 50 stores will be Heal Wellness . . . I’m trying to build a diversified portfolio for real estate access . . . We’re looking for brands that are emerging. We’re going to open net new units in every single brand in our portfolio this year. That’s key. Everyone of them is experiencing growth. Different levels of growth. We’re seeing significant same store sales across the board.
Black said the company will have 10 to 15 brands in the near future.
“We have an appetite for M&A.”
Financial Highlights
System sales across QSR brands increased 488% in Q3 2024 to $8.52M versus $1.45M in Q3 2023 and increased 13% versus $7.55M in the prior quarter. The increase is attributed to the organic growth with baseline restaurants and the increase in restaurant count from 10 in Q3 2023 to 35 opened as at Q3 2024;
Total revenues increased 69% in Q3 2024 to $2.54M versus $1.51M in Q3 2023. Furthermore, quarter over quarter total revenues increased by 10.4%. The significant growth was primarily driven by organic product sales growth in both the Quick Service Restaurants (QSR) and Consumer Product Goods (CPG) segments of the business, combined with new franchise fees and royalties collected on franchised restaurants;
Total product sales from both the QSR and CPG segments increased 26% to $1.87M in Q3 2024 as compared to $1.48M in Q3 2023. Both segments continued to be profitable once again this quarter. QSR EBITDA reached $0.68M versus $0.28M in 2023, representing an increase of 36%. CPG EBITDA reached $0.11M versus $0.05M in 2023, representing an increase of 120%;
Normalized adjusted EBITDA increased 265% during the quarter to reach $198,219, as compared to a normalized adjusted EBITDA loss of ($119,820) in Q3 2023. Furthermore, Q3 2024 resulted in a net comprehensive gain of $39,391 (adjusted for non cash expenses) versus a net comprehensive loss ($320,218) in Q3 2023 and a net comprehensive loss ($311,721) in the prior quarter. It is also the first quarter in Company’s history to achieve a net comprehensive gain from cash operating activities;
The Company continues to maintain a healthy net working capital position of 3.59M in Q3 2024 as compared to $0.80M in Q4 2023 and $1.80M in Q3 2023. Total cash and cash equivalents were $3.64M in Q3 2024 driven by two non-brokered private placements completed in 2024 ($3M combined) through the issuance of convertible debentures. The closing of the private placements strengthens our balance sheet and provides us the ability to accelerate our growth strategy and executing material M&A opportunities with strong positive cash flow, when the opportunity presents itself;
4 net new restaurant openings during Q3 2024 and 4 via acquisition (IQ Foods Co.). The Heal Lifestyle brand opened three locations in Sherwood Park, AB (July 20, 2024), West Abbotsford, BC (August 9, 2024) and Toronto, ON (September 3, 2024). The Joey Turks Island Grill brand opened one location in Scarborough, ON (August 15, 2024).
The Levi Strauss & Co. has been busy expanding its across Canada.
Three new stores opened in early November, all in regions where e-commerce sales and consumer demand have been particularly strong, said the company.
The latest store openings mark the first new permanent locations in Canada in two years, bringing the total number of Levi’s stores in the country to over 50. Earlier this year, two other Levi’s stores were relocated in the Yorkdale Shopping Centre and Vaughan Mills shopping mall in Toronto to prioritize premium and larger mall locations as the brand strengthens its presence across Canada, added the retailer.
The company said new locations in Kelowna and Toronto will help expand the brand’s presence in British Columbia and Ontario, while a third store in the Midtown shopping centre in Saskatoon is the first owned and operated location in the province. These new stores added to the recent opening of an important location at the DIX30 shopping centre in Montreal this summer, an important new location in Quebec, it added.
Vicky Skelton
“What’s special about these stores is that they showcase the most premium Levi’s experience for our fans,” said Vicky Skelton, managing director for LS&Co. Canada. “If you want to be inspired and are in search of the perfect denim lifestyle outfit, swing by a Levi’s store, and one of our experienced stylists will be more than happy to help you out.
“The brand has resonated really well with the Canadian consumer for decades. As I’m exploring the Canadian market, I know that many of us have a Levi’s story. Many people globally do.
“So it’s really important to us to make sure to our brand to the consumer where they like to shop. As the Canadian market has evolved, as malls have evolved in this market, there’s definitely an opportunity, or we’ve identified an opportunity, for us to show up in those malls and take the brand to consumers in the most elevated way in our premium store environment.”
The retailer said it has been in the Canadian market for decades and it has created longstanding, mutually beneficial partnerships throughout the region — and there’s still so much potential to continue to grow in the country.
Skelton said the retailer has looked at its market data to determine where the Canadian consumer wants to see the brand have a physical presence.
“British Columbia and Ontario will remain key regions for Levi’s in 2025,” said the company, adding that new store openings in Canada are expected to continue at a similar pace next year.
“Meanwhile, momentum keeps building in the direct-to-consumer (DTC) and women’s businesses in the country, two key strategy areas for LS&Co. globally. Overall, Canada holds great potential for LS&Co. over the next few years,” it said.
“Denim lifestyle categories like denim dresses, skirts, jackets and shirts will be ongoing priorities to keep the women’s business strong in the year ahead. The team is particularly excited about the denim on denim (on denim) style for both him and her, a look at the heart of our brand expression. And as we continue into the fall and winter months, Levi’s will lean more into outerwear and sweaters, bringing functional, warm, fashion-leading options to the Canadian consumers as they plan for the colder months.”
“The goal is to bring the full outfit to our consumer — not just the jeans,” explained Skelton.
Maintaining a holistic channel strategy
The retailer said it is maintaining a holistic channel strategy. Its DTC-first strategy does not mean DTC only — and this mindset applies to every region in which it operates, it said.
“In tandem to expanding the Levi’s store fleet, the team has also focused on enhancing the Levi’s presence and experience across a number of partner stores, including our most recent example at the Mark’s Queensway location,” added the company.
“Wholesale remains a key part of our business and plays an integral role in our overall growth ambition,” said Skelton. “Our focus continues to be on the partnerships with key wholesalers that share and support our strategic priorities, and to deepen existing partnerships as we further our reach and accessibility to our fans across the region.
“Canada is such a vast geography with a relatively small yet diverse population. We’re always looking at ways to innovate around that and reach even more fans.
“We have a strong focus on DTC globally. We’re DTC first from a strategic perspective and so that means the imperative is on us to look at our DTC opportunities and really bring to them life and that leads us to the three new store openings that you’ve seen in the last few weeks.
“It’s important to us to get the right location to meet the consumer where they are today and delight them. Certainly it will remain a big focus for us in Canada as we go into 2025.”
She said a holistic brand strategy is really important in this market.
“This is a very large geographical market. We have a large land mass here. And we’re not going to open a store in every single location. So it’s really important that we have partners that can help bring Levi’s to the consumer in those locations where we might not choose to open a store,” explained Skelton. “Having that diversity across our channels remains extremely important to the overall growth plans in Canada.”
Skelton said consumers receive not only an elevated retail experience in the stores but “our stylists are so knowledgeable about what the right fit might be for you, what the right denim lifestyle outfit might be for you. So you get that customer service as well as the overall assortment and the experience of Levi’s.”
Anyone who’s visited a hospital knows it can often be a stressful and time-consuming experience. Provincial governments are trying new partnerships and delivery models to improve access to healthcare and the retail sector is benefitting from the shift.
According to CBRE’s latest Canada Retail Rent Survey, the medical service, or retail health, sector is seeing increased market penetration. Improved government funding and the entry of international medical and pharmaceutical companies are moving healthcare delivery beyond the hospital.
Kate Camenzuli
“There is an immediate need for more healthcare support across Canada,” says CBRE’s Toronto-based retail broker Kate Camenzuli, who works with medical service providers looking for commercial spaces. “Retail is built in proximity to the population, often with transit in mind. It can provide convenient solutions for medical practitioners and support better healthcare delivery.”
Finding the Right Fit
While your local coffee shop can slot in just about anywhere, medical services have specialized requirements for where they can operate.
MRI clinics, for example, can’t be located near subways to ensure vibrations don’t interfere with imaging. Some medical tenants need locations near hospital systems, while others need extra storage space for equipment and pharmaceuticals.
“Medical services can take many different shapes – retail space, offices or even flex-industrial facilities,” Camenzuli says. “The most critical factor is having the right zoning and understanding how each space can support a client’s operations.”
Creating Partnerships
Public-private partnerships have played a vital role in the growth of the medical service sector across Canada.
In British Columbia, the partnership healthcare model encourages the collaboration of health authorities, service providers and vendors to support better healthcare delivery. For instance, some audiology clinics and surgical suites have partnered with hospitals to handle overflow.
CBRE’s Vancouver-based broker Adrian Beruschi says this has led to the expansion of medical service providers into new retail and mixed-use developments. “Medical service providers in B.C. have had an insatiable appetite to acquire retail properties in new developments in mature and emerging neighbourhoods. Medical and dental users, both chains and startups, are the primary candidates for purchasing retail strata units in new developments.”
It’s a similar story in Ontario, where medical retail groups and private practices affiliate themselves with hospitals to handle high demand. Hearing, optical and cosmetic surgery clinics have been opening new locations to offer private or public services, and some doctors have partnered with other medical professionals to provide a variety of services under one roof.
“These new models can help bridge the gap between public healthcare needs and private sector capabilities,” Camenzuli says. “Retail real estate is helping the medical sector progress and is supporting the evolution of how patients access healthcare in Canada.”
Canada’s Global Appeal
Canada can be attractive to international health service companies, with the public healthcare system offering different collaboration and funding opportunities.
Camenzuli recently assisted a partnership between an international pharmaceutical company and a domestic organization to open five plasma centres across Ontario. She is also working with MRI providers and audiology clinics expanding their services in the province.
“Companies that understand the nuances of the Canadian healthcare sector and that find the right partners have the potential to make a large impact,” says Camenzuli. “This collaborative approach will help create new spaces for healthcare delivery and support economies of scale.”
Just the Beginning
Camenzuli is confident that Canada’s medical service sector will continue growing as the population expands and ages. “We’re living longer than ever, so the demand for medical services is increasing rapidly,” she says. “We need to look at traditional real estate uses with fresh eyes to support the innovation of healthcare delivery.”
She expects greater integration of medical services within the community as private and public groups partner on long-term care, outpatient services and specialized treatment centres for dementia, addiction, mental health and fertility. She also predicts further consolidation of dentist offices and small medical practices with limited succession planning, as well as growth in the radiology space to address backlogs in hospitals.
“Promising innovation and talent are coming into this space,” says Camenzuli. “It’s exciting to support this shift and be more than just real estate; we’re helping improve the wellbeing of Canadians.”
