Jollibee launches first-ever loyalty program

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October 21, 2024

GRAND OPENING OF FIRST CANADIAN JOLLIBEE RESTAURANT IN WINNIPEG

Global restaurant brand, Jollibee, known for its Chickenjoy fried chicken, chicken sandwiches and Peach Mango Pie, announced Monday the launch of its first-ever loyalty program, Jollibee Rewards.

“Recently hailed “the best fast-food fried chicken” in America by USA TODAY, Jollibee is continuing to gain swarms of new fans from coast to coast by serving great-tasting food at a good value that is always served with joy. With the debut of its dynamic new loyalty program, Jollibee is unlocking a new world of joy – one that amplifies the fun-spirited, personal connections that have made the brand beloved by so many, both in North America and around the world,” said the company in a news release.

“The much-anticipated Jollibee Rewards allows fans who sign up to treat themselves to a new level of joy simply by ordering their favorite menu items. Members can easily earn rewards online or in store, with dollars spent converted into Jolly Points. Every $1 spent earns 10 points, which can quickly add up to a choice of delicious freebies, exclusive members-only deals, and delightful surprises.”

“It’s no secret that we have the most loyal fans in the world – so much so, that we truly see them as our friends, not just customers. Our Jollibee Rewards program is tailor-made to amplify the special sense of community that we share with them and thoughtfully reward them for their steadfast support and passion for our brand,” said Luis Velasco, Senior Vice President and Marketing Head, Jollibee North America. “We also invite brand newcomers to enjoy the many joyous perks that come with being a faithful Jollibee Friend as we continue to spread joy with every bite, every visit, every connection – and now, every new reward!”

As a thank you to those who join Jollibee Rewards and spend $35 or more by November 15, Jollibee said it will treat them to $5 off their order.

“And, because Jollibee believes that bringing people together over a delicious meal creates the ultimate joyful experience, members who get their family and friends to sign up have the chance to receive 200 Jolly Points to put toward their favorite menu item,” it said.

Jollibee Foods Corporation (JFC), also known as the Jollibee Group, is one of the world’s fastest-growing restaurant companies, with a mission to deliver great-tasting food, bringing the joy of eating through its 19 brands with over 9,400 stores across 32 countries.

The Jollibee Group’s portfolio includes eight wholly owned brands (Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, Yonghe King, Hong Zhuang Yuan, Smashburger), four franchised brands (Burger King, Panda Express, Yoshinoya in the Philippines, and Tim Ho Wan in China), and ownership stakes in other key brands like The Coffee Bean and Tea Leaf (80%), Compose Coffee (70%), SuperFoods Group that operates Highlands Coffee (60%), and bubble tea brand Milksha (51%). The Company also has membership interests in Tortazo, LLC, along with Chef Rick Bayless, for Tortazo in the U.S. and has recently invested in Botrista, a leader in beverage technology.

Through its subsidiary Jollibee Worldwide Pte. Ltd. (JWPL), the Jollibee Group holds a 92% participating interest in Titan Dining LP, a private equity fund that owns the Tim Ho Wan (THW) brand. It has a joint venture with the THW Group to expand THW in China. It also established a joint venture company that holds the franchise rights to operate Tiong Bahru Bakery and Common Man Coffee Roasters in the Philippines. The Company also holds a 90% stake in Titan Dining Partners II Ltd for growing Asia-Pacific food service brands.

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Versace flagship on Yorkville Avenue in Toronto shutters

By

Craig Patterson

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October 21, 2024

Signage has been removed from the now shuttered Versace store at 106 Yorkville Avenue in Toronto. Photo: Craig Patterson

Italian luxury brand Versace has closed its flagship store in Toronto at 106 Yorkville Avenue. The store opened in the summer of 2019 in a new development by First Capital REIT.

The two-level Versace store spanned about 3,000 square feet over two levels and was located between flagship locations for Brunello Cucinelli and Stone Island.

The Impact of Versace’s Closure on Yorkville’s Luxury Landscape

Designed by Gwenael Nicolas, the boutique featured an innovative use of light, mirrors, and contrasting materials. A brass ceiling grid added a dramatic touch, while gold accents contrasted with marble and metal elements. One notable feature was the three-dimensional Medusa head that adorned the ceiling of one of the dressing rooms, a striking homage to the brand’s iconic imagery.

Signage in the window of the now shuttered Versace store at 106 Yorkville Avenue in Toronto. Photo: Craig Patterson

The store’s LEED certification also emphasized Versace’s commitment to sustainability. The main floor of the boutique showcased ready-to-wear collections for men and women, as well as accessories and footwear, while the second level housed the Versace Home line and children’s wear.

Despite the closure of this Toronto flagship, Yorkville remains a prime location for luxury brands. Across the street, Christian Louboutin’s only standalone Canadian store that continues to operate at 99 Yorkville Avenue, and other prominent luxury brands such as Chanel and Balenciaga have secured their spots within the district in recent years. Yorkville’s evolution is ongoing, and the departure of Versace opens the door for a new high-end tenant. DWSV Realty handled the sublease for Versace’s space [which is being taken over by Brunello Cucinelli].

Versace’s Canadian Presence: A Snapshot of Growth

Versace’s presence in Canada extends beyond its now-closed Yorkville location. The brand made its Canadian debut in 2014 with a standalone boutique in Toronto’s Yorkdale Shopping Centre, a mall known for its high-end retailers. Spanning 2,820 square feet, the Yorkdale store was a significant step in establishing the brand in the Canadian market. Following that success, Versace opened a second boutique in Vancouver in 2015 at 747 Thurlow Street, a prominent location in the city’s Alberni Street Luxury Zone.

The Vancouver boutique, measuring 1,875 square feet, positioned Versace alongside other global luxury brands, further establishing the brand’s foothold in Canada. The Vancouver store closed, however, in late 2020, and the space is now occupied by luxury brand Thom Browne. DWSV Realty negotiated that lease deal.

Versace Yorkville in November of 2020. Photo: Craig Patterson

Versace’s Canadian expansion is continuing under the direction of parent company Capri Holdings. That includes a new Versace store at Royalmount in Montreal this year, as well as another in Vancouver’s Oakridge Park development next year. Versace is also about to open a new store at Toronto’s Yorkdale Shopping Centre, replacing its current location in the mall.

In Canada, Versace also operates outlet stores at the Toronto Premium Outlets near Toronto, and at the McArthurGlen outlets near Vancouver.

First floor of the former Versace store at 106 Yorkville Avenue in Toronto. Photo: Versace

Gianni Versace S.p.A. is one of the leading global fashion design houses. Under the Artistic Direction of Donatella Versace since 1997, the brand designs, manufactures and distributes fashion and lifestyle products including haute couture, women’s and men’s ready-to-wear, jewelry, watches, accessories, fragrances and home collection. The brand was founded by the late Gianni Versace in 1978.

Gianni Versace S.r.l. is part of Capri Holdings Ltd. global fashion luxury group, formerly Michael Kors Ltd., which also owns UK luxury footwear brand Jimmy Choo. Capri Holdings (then ‘Michael Kors’) acquired Versace for US $2.12 billion in September of 2018.

Odd Burger opening new locations and food truck

By

Mario Toneguzzi

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October 21, 2024

Odd Burger Corporation is expecting to open three new franchised restaurant locations and one new franchised food truck within the next two months, bringing its total number of operational units to 21, the company announced on Monday.

The Company, which is a franchised vegan fast-food restaurant chain and food technology company that manufactures a proprietary line of plant-based protein and dairy alternatives, currently has 17 operational units in Canada including 10 franchised restaurant locations, one franchised mobile unit and six corporation restaurant locations, it said in a news release.

“The next location expected to open will be at 4549 Kingston Road in the community of Scarborough, Ontario. Construction is completed and the occupancy permit has been filed. The site is expected to open in early November 2024. Grand opening details will be announced on the Company’s social media accounts. The Company is expecting to open its second downtown Toronto location at 229 Church Street by the end of November 2024 once final inspections are complete and an occupancy permit has been issued,” it said.

“The Company is pleased to announce it is expecting to open two more franchised units in the province of British Columbia. Construction is completed and final inspections are in progress at 2821 Main Street, Vancouver, BC. The Company will also be launching its first food truck in Vancouver, BC. Construction of the food truck is largely complete, and the truck is expected to be operating at select sites in and around Vancouver as well as various festivals and events. Both units are expected to open by December 2024.”

Odd Burger said its recently opened locations in Victoria nd Ottawa have had above average sales since opening with sales on track to hit approximately $1 million in annualized revenue at both locations.

“This is a significant milestone and demonstrates the success the Company is having at increasing its average unit volume,” said James McInnes, CEO and Co-Founder of Odd Burger. “We are excited to continue to build our brand and grow across Canada with our franchise model.”

Additional locations under development

The following table details status updates for additional locations under development.

Location	Address	Status
Woodbridge	8470 Highway 27, Vaughan, ON	Under construction
Toronto, Broadview	731 Broadview Ave., Toronto, ON	Awaiting completion of landlord work.
Edmonton, South	9222 Ellerslie Road, Edmonton, AB	Under construction

Related articles:

Anatomy of a Leader: James McInnes, Co-Founder & CEO, Odd Burger
Odd Burger reports quarterly loss but highest quarterly revenue this year

Small and Midsized Businesses in Canada are Diversifying Sales Methods, Optimistic about Future Growth: Retail Council of Canada

By

Mario Toneguzzi

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October 21, 2024

A new report, released Monday by Retail Council of Canada (RCC), indicates nearly half of small and midsized businesses anticipate increased annual gross sales in 2024 compared to 2023, reflecting a positive outlook on business growth.

RCC released the new survey, Navigating the Future: A Study of Sales Strategies and Challenges for Canada’s Retail SMBs , conducted by Leger that explores the sales practices employed by small and medium-sized businesses (SMBs) nationwide to connect with customers and drive sales. The research also analyzes the adoption of new sales channels and integration of digital tools, and their impact on SMB optimism and economic prospects.

Navigating the Future: A Study of Sales Strategies and Challenges of Canada's Retail SMBs (CNW Group/Retail Council of Canada) — Navigating the Future: A Study of Sales Strategies and Challenges of Canada’s Retail SMBs (CNW Group/Retail Council of Canada)

The findings from over 750 SMBs underscores SMBs in Canada now have access to affordable, powerful digital tools and platforms that enable innovative selling methods, complementing traditional practices if desired.

In a news release, RCC said the survey finds that despite the rise of digital sales channels, brick-and-mortar stores continue to be the preferred sales method for 50 per cent of SMB sellers, contributing to 31 per cent of their revenue on average.

“Web store ranks as the second most popular method at 41 per cent. However, SMB sellers can now effortlessly enhance these sales channels with online marketplaces, click-to-buy features on social media, and other easy-to-use alternatives. The distinction between digital versus physical, or online versus offline sales, is now an outdated and inadequate way to describe current retail operations. Regardless of their size, even the smallest SMBs with fewer than 10 employees can adopt advanced sales strategies that compete with, or even surpass, those of larger traditional retailers,” said the RCC.

“Small and medium-sized businesses have shown incredible resilience, using a variety of methods—e-commerce, in-store, and hybrid approaches—to keep connecting with consumers during and after COVID-19. This adaptability has allowed them to continue delivering the products and services consumers across our country rely on. The survey results highlight SMBs’ ability to innovate, and despite past and current challenges, they remain optimistic about future growth,” said Diane J. Brisebois, President and CEO, Retail Council of Canada.

“This survey is great news,” said Federal Minister of Small Business Rechie Valdez. “It reflects how our government’s initiatives, like the Canada Digital Adoption Program, is empowering small and medium-sized retailers in Canada to seize new opportunities. It’s encouraging to see Canadian retailers embracing digital tools and having the choice to partner with those who best support their growth. Together, we’re driving entrepreneurial success and strengthening Canada’s economy.”

KEY FINDINGS

Multichannel adoption is prevalent, with 60 per cent of SMB sellers using more than one sales channel, and 34 per cent utilizing at least three different methods. The average SMB uses two sales channels to sell products;
The eight most popular sales channels used by SMBs in Canada are: Brick & Mortar Store (50 per cent), Web Store (41 per cent), Online Marketplace (33 per cent), Click-to-Buy on Social Media (28 per cent), Offline Marketplace (25 per cent), App Store (22 per cent), Wholesale (11 per cent), and On-Demand Delivery (10 per cent);
71 per cent of SMB revenue is driven by the top four sales methods: Brick and Mortar (31 per cent), Web Store (15 per cent), Online Marketplace (14 per cent), and Click-to-Buy Social (11 per cent);
While using a digital sales method, most SMBs often leverage multiple companies. For example, 84 per cent of SMB sellers on Amazon Marketplace concurrently engage in sales on at least one additional online marketplace platform. 52 per cent also offer their products on eBay, 33 per cent on Facebook Marketplace, and 25 per cent on Etsy;
Nearly half of SMBs anticipate increased annual gross sales in 2024 compared to 2023, reflecting a positive outlook on business growth;
The more sales channels SMBs employ, the more optimistic they are about their business prospects, highlighting the importance of diversification;
88 per cent of SMB Sellers utilize at least one digital tool, with Payment Processing Systems (45 per cent) being the most common, followed by Social Media Management (33 per cent) and Mobile Payment Systems (32 per cent);
Integrated digital tools, such as payment processing systems, social media management, and mobile payment systems play a crucial role in SMB success, with 94 per cent of all SMBs emphasizing their importance.

Download the survey here.

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New BDC study reads into the future to help Canadian entrepreneurs defy the odds
Sluggish growth for Canadian economy: CFIB report

For newcomers, business ownership delivers more than financial security: Square

By

Mario Toneguzzi

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October 21, 2024

A landmark study by technology company Square reveals that for newcomers, owning a business is a self-enabling path to shaping their future as they make Canada their home.

Square’s Entrepreneurial Spirit of Newcomers Report finds the vast majority of newcomer entrepreneurs (81 per cent) believe owning a business helped them positively impact their lives in Canada.

The report highlights business ownership as a catalyst for helping newcomers unlock financial security, achieve more meaningful careers and accelerate their sense of belonging in Canada. More than that, newcomer entrepreneurs enrich communities throughout the country.

Roshan Jhunja, Head of Business Solutions at Square, said Square’s report found that two-thirds (65 per cent) of newcomer entrepreneurs faced significant challenges in having their valuable skills and work experience recognized in the Canadian job market before they started their businesses.

“Roughly one-third of newcomer entrepreneurs (36 per cent) experienced work dissatisfaction and one-in-four (27 per cent) felt they were underemployed, leading them to seek better opportunities through business ownership,” he said.

“For newcomers, owning a business is a self-enabling path to shaping their future as they make Canada their home. Eight-in-10 newcomer entrepreneurs believe owning a business helped them positively impact their lives in Canada. According to Square’s new report highlights business ownership helps newcomers unlock financial security, achieve more meaningful careers and make community connections that accelerate their sense of belonging in Canada.

“Newcomer entrepreneurs tend to think big and display extraordinary determination – and that ambition translates into a positive growth mindset, more optimism about the economy and a stronger drive to create jobs.”

Fabiana Del Bianco, Co-Owner of Padaria Toronto, said she moved to Canada from Brazil in 2017 and went to culinary school to follow her dream of opening a Brazilian bakery.

“When I first arrived, I enrolled in culinary school and worked all kinds of jobs in the foodservice industry – big chains, little bakeries, artisan pizza shops – learning, making connections and preparing to open Padaria, our Brazilian bakery. Today we have two busy Toronto locations – our original bakery in the Junction and our newest location in midtown,” she said.

“Being from another country is harder. It’s challenging because you need to learn everything from zero. In the beginning, we didn’t know the laws here, all the permits we needed, how the real estate market works. There are so many difficulties we went through. It was a good learning curve – especially since we started Padaria during the pandemic!

“We like to say Padaria is a home away from home. The place you go with family and friends to warm the soul. We offer amazing Brazilian sandwiches, baked goods, including Bolinha de Queijo (cheese croquettes), Coxinha (chicken croquettes), Pao de Queijo (gluten-free cheese buns), amazing cakes and tarts and our famous Brigadeiros! Stop by in-person, or we can deliver the taste of Brazil right to your home or office.”

Del Bianco said she loves what she does.

“I love the creativity. It’s amazing to have a sense of community and be part of so many people’s lives – both our customers and our team. It brings a lot of purpose to do something that’s recognized in the community, being able to help many people and grow with those who work with us as we’ve grown to add a new location, expand our catering, home delivery and more.”

The report’s key findings:

65 per cent of newcomer entrepreneurs faced significant challenges in having their valuable skills and work experience recognized in the Canadian job market before they started their businesses;
36 per cent experienced work dissatisfaction and 27 per cent felt they were underemployed, leading them to seek better opportunities through business ownership;
Over 90 per cent say that becoming a business owner was a good decision and just over 80 per cent share the belief that operating their business has allowed them to reach their full potential in Canada;
Newcomer entrepreneurs are notably more optimistic (78 per cent) about the future growth of their businesses compared to 66 per cent of entrepreneurs nationally;
Their confidence extends to hiring plans, as seven-in-10 newcomer entrepreneurs intend to increase their workforce in the coming years – nearly double the rate of other business owners (43 per cent) across the country;
56 per cent cite difficulties accessing funding or capital, finding affordable commercial or residential space (44 per cent), and navigating Canadian regulations and legal requirements (42 per cent).

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New BDC study reads into the future to help Canadian entrepreneurs defy the odds

By

Mario Toneguzzi

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October 21, 2024

BDC, Canada’s bank for entrepreneurs, has released comprehensive research that highlights four critical trends shaping Canada’s future business landscape.

“4 key trends shaping the future of Canada’s businesses” is meant to help entrepreneurs plan their next business move in a time of constant change, said the bank in a news release.

“We are past the point where adopting new technologies is good advice; it is mandatory”, said Pierre Cléroux, VP Research and Chief Economist, BDC. “Increasing costs, changing consumer behaviors, labour shortages and technological trends all interact with one another. By adopting
new technologies, small businesses can turn potential disruptions into opportunities to shape their own future and drive their business forward.”

Over the past five years, small and medium sized enterprises (SMEs) have had to adapt to several crises: the COVID-19 pandemic, the 2021-2023 global supply chain crisis, rising inflation, labour shortages and rapid technological change—including a rapid rise in e-commerce and conversational artificial intelligence (AI), said the report.

The study offers insights and tools to help entrepreneurs anticipate what’s ahead and make informed decisions to ensure long-term success:

Trend #1: Increasing costs will remain a concern

The study finds that 75% of businesses say rising costs have affected their business. The industrial product price index (IPPI), which tracks the price of products at factory gates, increased by 35% between Spring 2020 and Spring 2022. While some input prices have and will come down, the price of energy will remain elevated as extreme weather events affect electricity output, increased electricity demand continues to wait for new investments, and geopolitical situations maintain gas prices above the pre-pandemic average.

Optimizing energy consumption and adopting cost-saving technologies can mitigate these pressures. While automation and AI tools can help cut costs and improve efficiency, it is important to focus on improving business processes before investing in new technology, to identify inefficiencies and maximize the impact of these investments.

Trend #2 – Zoomers as consumers

About two-thirds (66%) of Canadians are willing to pay extra for locally produced products, and 50% are willing to pay extra for environmentally friendly products or services. Zoomers, who are born between 1997 and 2012, are significantly more likely to pay extra for environmentally friendly clothes, shoes, and accessories (71%) compared to other generational cohorts (54%). Considering that all Zoomers will be adults by 2030, the market for environmentally friendly products and services will continue expanding.

Offering competitive pricing without compromising quality and promoting more local and environmentally friendly products are great ways to attract and retain these new consumers. Adopting Environmental, Social, and Governance (ESG) criteria can attract major buyers as well. In a previous study, BDC forecasted that 92% of major buyers would require their suppliers to disclose at least one ESG criterion this year. Reporting on ESG efforts is increasingly necessary to enter the supply chain of large companies. In 2022, 59% of suppliers had to disclose some ESG criteria to at least one buyer. This is expected to rise to 72% by 2025.

Trend #3 – Labour shortages will persist over the next decade

This will remain a pressing issue, particularly for skilled workers: nearly 70% of future job openings will require post-secondary education or management skills, which are areas currently reporting the lowest unemployment rates, making it even harder to find qualified candidates. It seems that 88% of businesses think it will be just as hard or harder to find employees in the next five years. Among businesses anticipating worsening labour challenges, 33% are not planning strategies for hiring, training, or retaining employees. There is a significant gap in preparedness, primarily among small businesses of less than 100 employees.

The study presents the top three strategies for dealing with labour shortages: 1. Technology and automation can reduce the time employees spend on repetitive or low-value tasks. This makes it possible to produce more with less employees; 2. A people strategy with competitive compensation, growth opportunities and a positive culture can help attract and retain talent; 3. Expanding the hiring pool by upskilling candidates through training, forming partnerships with universities and schools, and hiring diverse workers can help ease labour and skills shortages.

Trend #4 – The rapid pace of technological change

With 82% of businesses already considering technology critical, and 38% anticipating significant disruption from new technologies, it is imperative for entrepreneurs to embrace digital transformation. Technology can automate repetitive tasks, allowing employees to focus on higher-value activities. Advanced technologies, such as AI, cloud computing, and cybersecurity can also help by enhancing productivity, improving customer service, and providing a competitive edge.

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DoorDash teams with Michaels and Spirit Halloween for last-minute shopping

By

Craig Patterson

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October 20, 2024

image - 2024-10-20T203926.336 — DoorDash delivery person on a bicycle. Photo: DoorDash Canada

With Halloween around the corner, DoorDash Canada has unveiled two timely partnerships with Michaels and Spirit Halloween to meet the demands of last-minute shoppers.

As one in three Canadians reportedly wait until the final week before Halloween to start their shopping, DoorDash says its initiative provides easy access to costumes, decor, and party supplies, delivered straight to customers’ doors.

By collaborating with these major retailers, DoorDash expands its offerings beyond food delivery, catering to Canadians’ seasonal needs while ensuring convenience for last-minute planners.

Lewis Matthews, Head of Grocery and Retail Partnerships at DoorDash Canada, noted the significance of this partnership, saying, “Halloween is a perfect occasion to experience DoorDash like never before, as customers can access almost anything they need, from candy corn to costumes and arts and crafts.”

Michaels Brings DIY Halloween Supplies to Your Doorstep

Michaels, North America’s largest specialty arts and crafts retailer, is now available on DoorDash, empowering Canadians to bring their creative Halloween ideas to life with ease. This new partnership spans over 130 Michaels locations across Canada. Customers can now order from tens of thousands of products, with a wide range of seasonal supplies ready to be delivered within an hour.

Heather Bennett, Executive Vice President of Marketing and Ecommerce at Michaels, expressed excitement over the collaboration. “Our partnership with DoorDash arrived just in time to help more Canadian customers create memorable Halloween experiences, whether they’re perfecting their DIY decor or stocking up on last-minute party supplies.”

The expansion in convenience allows Canadians to take their creativity to the next level by ensuring access to all the essentials they need to decorate their homes or prepare for Halloween parties—all without leaving home.

Spirit Halloween and DoorDash: Get Costumes Delivered in Under an Hour

In addition to Michaels, DoorDash has also teamed up with Spirit Halloween, the world’s largest Halloween costume store. The partnership provides Canadians with an easy solution for finding and receiving costumes and accessories quickly, perfect for those who need a last-minute outfit.

Spirit Halloween store. Photo: Spirit Halloween

With over 70 locations available on DoorDash across Canada, Spirit Halloween shoppers can now choose from thousands of costumes and accessories, delivered within an hour in many cases.

From spooky, ghost-inspired costumes to fun, family-friendly animal outfits, the variety of costumes available will meet the needs of all ages and preferences.

To celebrate these new partnerships, DoorDash is offering a limited-time promotion. Until October 31, customers can use the promo code BOO25 to enjoy 25% off their next order of $25 or more at participating stores, including Michaels and Spirit Halloween.

Other Halloween Retail News

Halloween candy shrinkflation: Canadians paying more for less [Op-Ed]

Canadian Halloween Loses Its Spark, Calls for More Innovation and Seasonal Balance in Retail [Interview]

How Shrinkflation and Rising Costs will Haunt Halloween Candy Shoppers in Canada in 2023 [Op-Ed]

Beef prices to stay high through 2025 due to supply shortages [Op-Ed]

By

Sylvain Charlebois

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October 20, 2024

Loblaw Store Meat Department. Photo: Loblaws

Beef prices are likely to remain high until mid to late 2025, possibly even longer. Droughts in North America have forced many cattle producers to reduce their herds, resulting in tighter supplies.

Higher food costs, elevated interest rates—crucial for the capital-intensive cattle industry—and downsizing herds have collectively pushed prices to record levels. As many producers exit the industry, the reduction in supply exacerbates the situation. For cattle producers, these high prices are welcome, but for consumers, the story is quite different.

Beef Prices Have Been a Major Driver of Food Inflation

Beef has been a significant contributor to food inflation in recent months, outpacing general inflation. According to Statistics Canada, the price of beef stewing cuts has increased by 19% in the last year, while beef rib cuts surged by 26%.

Even ground beef, often considered the most affordable beef option, has seen a 15% price hike over the past year. These increases build upon multiple price hikes in recent years. With current trends, farmgate beef prices could continue climbing until mid-2025, further prolonging upward pressure on retail prices.

Unless you have a direct connection with a rancher or find exceptional deals, consumers should brace for significantly higher beef prices. Within the broader meat category, beef isn’t the only protein facing price challenges—pork and chicken prices are also on the rise. The hog market has experienced similar pressures, which could lead to more expensive pork chops, ham, and bacon.

The Situation in the U.S. Mirrors Canada’s Beef Price Increases

The situation is no different in the United States, where a pound of ground beef is now at $5.67, a record high and a 43% increase since January 2021.

Beef, long considered a luxury protein, is now reaching price points that could severely dampen demand for an extended period. While overall meat sales fell 3% in the latest quarter, American consumers are still purchasing beef—albeit at a much steeper cost.

Canada’s Cattle Herd Reaches Historic Lows

We’ve seen this scenario play out before. In 2015, beef prices at retail surged nearly 30% within a few weeks due to drought-induced cattle sell-offs. Consumers retreated from beef, and sales never fully recovered. The current situation could be even worse.

As of July 1, 2024, Canada’s cattle herd was the smallest since 1987, despite the country having 15 million more people. The U.S. is also facing a similar decline, with the smallest cattle inventory since 1951.

At some point, cattle producers may attempt to rebuild their herds to capitalize on high prices, but this won’t happen overnight. Economic uncertainty, fluctuating interest rates, and the upcoming U.S. election may delay any significant industry expansion. For now, beef prices remain high in 2025, and consumers should expect continued inflationary pressure.

Looking Ahead: High Beef Prices Could Last Until 2026

Looking ahead, consumers should prepare for elevated beef prices through 2025 and possibly into 2026. Whether it’s BBQ season or not, the beef industry will face significant challenges in maintaining consumer interest at these price points. The price surge in 2015 led to the closure of many butcher shops as consumers sought more affordable protein alternatives.

As history has shown, when prices spook consumers, new habits form. This shift could have long-lasting effects on sectors like beef, which are key to North America’s agricultural economy. Keeping consumers engaged in the face of these high prices will be a critical challenge for the beef industry in the coming years.

CAFA Awards 2024 celebrates fashion icons and changemakers

By

Craig Patterson

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October 20, 2024

EDS_0075 — Harry Rosen President Ian Rosen on stage at the CAFA Awards on October 19, 2024. Photo: George Pimentel Photography

The 2024 Canadian Arts & Fashion Awards (CAFA) brought together top fashion figures from across Canada and around the world. Held at Toronto’s Fairmont Royal York Hotel, the 11th annual gala recognized exceptional achievements in the fashion industry. Hosted by Toronto native and drag artist Brooke Lynn Hytes, the event highlighted both established icons and emerging talents, celebrating Canadian contributions to global fashion.

Among the night’s biggest honours was the Vanguard Award, presented to Canadian supermodel Linda Evangelista. Evangelista has been a fashion icon for decades, appearing on over 700 magazine covers and walking runways for some of the world’s most celebrated designers. Her career has set a benchmark for beauty, style, and activism. Erdem Moralioglu, the London-based, Canadian-born fashion designer, presented Evangelista with the award, recognizing her work not only as a supermodel but also as an advocate for breast cancer awareness, AIDS/HIV research, and LGBTQ+ rights.

Linda Evangalista on stage with Erdem Moralioglu at the CAFA Awards on October 19, 2024. Photo: George Pimentel Photography

Celebrating Canadian Fashion’s Influence and Innovation

In addition to Evangelista’s recognition, the 2024 CAFA gala honored Ben Barry with the Changemaker Award. Barry, Dean of Fashion at Parsons School of Design in New York, has led efforts to make fashion education more inclusive. His work integrates equity and justice into the curriculum at Parsons, a vision he began developing while chairing fashion at Toronto Metropolitan University. Barry’s influence extends to the disabled community, where he co-launched the Parsons Disabled Fashion Student Program, ensuring greater representation and opportunities for disabled students within the fashion industry.

Justice Faith and Nia Faith, co-founders of Révolutionnaire and The Rév Shop, were also recognized for their contributions. The sisters received a Changemaker Award for their activism and apparel line that empowers individuals to celebrate diversity and skin tone inclusivity. The duo’s impact, particularly on young people, has been far-reaching, with their work being highlighted in major publications like Forbes and Essence.

Roots CEO Meghan Roach on stage at the CAFA Awards on October 19, 2024. Photo: George Pimentel Photography

Roots Receives Outstanding Achievement Award

Another highlight of the night was the Outstanding Achievement Award, presented to Roots, the Toronto-founded brand synonymous with Canadian culture. Celebrating its 51st year, Roots has maintained its reputation for high-quality outdoor lifestyle apparel and leather goods. Meghan Roach, President and CEO of Roots, accepted the award, emphasizing the company’s commitment to innovation while remaining true to its heritage. Roots’ sweats, leather goods, and commitment to craftsmanship have earned it a loyal global following, and its influence continues to grow under Roach’s leadership.

The gala also saw the introduction of a new honour, the Indigenous Fashion Award, which CAFA Co-Founder and President Vicky Milner unveiled. This initiative aims to celebrate Indigenous designers and artisans, whose storytelling and craftsmanship enrich Canada’s fashion landscape. Milner highlighted that the award would foster mentorship and collaboration within Indigenous communities, creating more opportunities for Indigenous fashion talent.

The CAFA Awards on October 19, 2024. Photo: George Pimentel Photography

Impact Beyond Fashion

CAFA’s commitment to philanthropy was also evident during the gala. Two organizations, Shelter Movers and End Violence Everywhere (EVE), were spotlighted for their work with survivors of violence. Shelter Movers, a national organization founded by Marc Hull-Jacquin, provides free moving and storage services to individuals fleeing abuse. Meanwhile, EVE, founded by Canadian artist and activist Cait Alexander, offers advocacy services for survivors of intimate partner violence and sexual assault, both in Canada and the USA. The organizations exemplify how the fashion industry can contribute to broader social causes, emphasizing support for vulnerable communities.

The 2024 CAFA Gala also featured immersive experiences from key sponsors. NARS Cosmetics, celebrating its 30th anniversary, created a glamorous NARS Beauty Lounge for attendees. Guests could explore the brand’s products and capture memorable moments in an exclusive photo booth. Harry Rosen, the renowned luxury menswear retailer, offered an immersive experience showcasing its Fall/Winter 2024 collection, blending high fashion with art.

Amazon Canada’s activation, the Amazon Atelier, further showcased the intersection of technology and fashion. The Amazon Atelier, inspired by the Fashion Design Student Award nominees, highlighted emerging talent while underlining Amazon’s growing support for Canadian fashion. The space invited guests to explore modern craftsmanship and create their own fashion-forward photo moments.

As the night came to a close, CAFA celebrated its winners across multiple categories, including Beaufille for Womenswear Designer of the Year, Spencer Badu for Menswear Designer of the Year, and Nobis for Outerwear Brand of the Year. Emerging talent was also recognized, with Jontay Kahm and Steff Eleoff receiving awards for their work in fashion and accessory design, respectively.

Other News:

Canadian Arts & Fashion Awards Unveils 2024 Nominees

Roots Marks 50 Years as Iconic Lifestyle Brand: A Journey from Wilderness Cabin to Global Presence [CEO Interview]

Anatomy of a Leader: Meghan Roach, President and CEO of Roots

Harry Rosen celebrating 70 years in business (Interview)

Canadian Retail News From Around The Web For October 21, 2024

By

Retail Insider

-

October 20, 2024

News at a Glance

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 several days.

Small grocers left hanging as Ottawa’s deal to lower credit card fees takes effect (Canadian Grocer)

There may be less chocolate at the door this Halloween (CTV)

Importers brace for launch of new portal to collect duties (CTV)

Canadian cannabis laws show six years of evolution (BIV)

Surge in shoplifting, employee theft shakes Vancouver retailers (BIV)

Small businesses in Saskatchewan banking on online shopping (Global)

A new furniture store is looking to capitalize on downtown London’s growing population (CBC)

Ottawa brand Raised by Wolves to open first storefront next month in City Centre complex (Ottawa Business Journal)

Treasured Annex magazine shop set to close after rent hike (CBC)

SAQ workers launch surprise strike, closing most outlets across Quebec (CBC)

Craft brewers urge Ontario to speed up review of alcohol taxes (CBC)

Halifax police investigate employee death at Mumford Road Walmart (CBC)