Retail Insider’s Top 23 Most-Read News Articles of 2023 [Feature]

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January 2, 2024

Retail Insider’s Top 23 Most-Read Stories of 2023 [Feature]

In 2023, the Canadian retail industry adapted and shifted throughout a year of uncertainty. Major trends included growth in omni-channel, challenges with supply chain, marketplaces and inflation among other topics.

Canada also saw a number of brands enter the country through expansion and had a number of brands unexpectedly exit the market. We will be talking about the lasting impacts of 2023 for many years to come.

In 2023, Zellers relaunched, Nordstrom exited Canada, and Bed Bath & Beyond’s real estate was snapped up for new concepts. Retail leasing remained robust with shopping centres adding new tenants.

Over the course of the year, some articles published in Retail Insider saw many thousands of readers, and we’ve listed the top ones below in descending order. See them all below, starting with number 23:

23. Yorkdale Breaks Records as the Highest-Performing Shopping Centre in Canada [ICSC Study/Analysis]

Yorkdale Shopping Centre (Image: Dustin Fuhs)

The luxury-heavy Toronto shopping centre saw higher sales per square foot last year than ever, while surpassing two billion dollars in sales for the first time.

22. Hudson’s Bay to Shut Historic Standalone Store in Banff Alberta

The smallest department store in the chain caters to tourists and locals in the town and had been an important retailer in Banff for over 80 years.

21. First NBA Courtside Restaurant to Open this Spring in Downtown Toronto [Interview/Renderings]

NBA Courtside Restaurant in Toronto (Image: NBA)

The 10,000 square foot premium sports-inspired dining experience celebrating the National Basketball Association will be unlike anything in the city to date, and will be within walking distance of Scotiabank Arena.

20. Yorkdale Launches Unprecedented 100,000 Square Foot Luxury Retail Expansion in Toronto [Feature/Photos]

Yorkdale Shopping Centre (Image: Craig Patterson)

Oxford Properties will re-tenant Yorkdale’s centre run in an effort to create one of the world’s leading clusterings of luxury brand stores.

19. Hudson’s Bay Launches Outlet Store Concept

Hudson’s Bay at Eglinton Square in Toronto, 2019. Photo via Google Street View

The department store retailer’s new location features outlet pricing, following the shuttering of a previous Hudson’s Bay Outlet concept during the pandemic.

18. Bowling and Entertainment Concept ‘The Ballroom’ to Replace Mark McEwan Grocery Store at Yonge & Bloor in Toronto [Exclusive]

Future Ballroom Social at 1 Bloor (Image: Dustin Fuhs)

It will be the second bowling offering for downtown Toronto, occupying a former grocery store space at the iconic corner in Bloor-Yorkville.

17. New Retailers to Open at ‘The Well’ in Downtown Toronto into 2024 [Interview]

The Well in Toronto (Image: Dustin Fuhs)

Oliver Harrison of RioCan discusses the massive project which has finished construction and is now seeing new retailers open.

16. adidas to Combine Canadian and US Business Units in Major Organizational Shift [Exclusive]

adidas Halo Store at CF Toronto Eaton Centre (Image: Dustin Fuhs)

The restructuring aims to streamline adidas’ retail operations in Canada with country GM Alim Dhanji exiting for another major company.

15. Bed Bath & Beyond to Leave Hundreds of Thousands of Square Feet of Vacant Retail Space with Canadian Exit

Bed Bath & Beyond at South Edmonton Common (Image: South Edmonton Common)

New tenants will have to be found for spaces vacated by the retailer following court filings last week that will wind down the Canadian retail division.

14. Promenade Shopping Centre in Thornhill to be Redeveloped into Vibrant Urban Centre [Renderings/Exclusive Interview]

Promenade Shopping Centre (Concept rendering – subject to change)

The transformational mixed-use development will include new retail to serve the area, amenities, and thousands of multi-family residences for the rapidly growing community.

13. Israel-Based ‘Fox Home’ to Expand into Canada with Multiple Stores in 2023

FOX HOME at CF Toronto Eaton Centre (Image: Dustin Fuhs)

Tel Aviv-based Fox Group is investing heavily into the Canadian market with other store concepts expanding that include Nike, Mango, and Laline.

12. Mastermind Toys Acquired by Joe Mimran’s Unity Acquisitions, 18 Stores to Close

Mastermind Toys at Upper Oakville Shopping Centre (Image: Upper Oakville Shopping Centre)

Unity will acquire the majority of Mastermind Toys store locations following a bankruptcy filing, with a significant number of employees continuing with the business.

11. CF Chinook Centre in Calgary to See Several Global First-to-Market Retailers Open in 2023 [Interview]

CF Chinook Centre (Image: Cadillac Fairview)

Calgary’s first Uniqlo, Nike flagship store, and Jo Malone will be among new retailers while others are expanding or relocating in the city’s top mall.

10. Furla Abruptly Exits Canadian Market and Shuts All Stores

The upscale Italian brand opened three standalone locations in Canada, and locked the doors on the stores last week without any warning.

9. Inside Zellers 2.0 and its Newly Secured In-House Brand ‘Anko’ [Photos/Analysis]

Zellers at Scarborough Town Centre in Toronto, March 21, 2023. Photo: Craig Patterson

The new Zellers stores at Hudson’s Bay launch tomorrow, featuring Kmart Australia-developed brand Anko which is expanding globally after seeing commercial success in that country.

8. Luxury Brand Concessions at Nordstrom in Canada Shutter Ahead of Retailer’s Exit

Shuttered eBar coffee shop at the mall entrance to Nordstrom at CF Toronto Eaton Centre. Photo: Bill Manning via Reddit

Several major brands leased space within Nordstrom stores and the boutique spaces shuttered over the weekend.

7. Royalmount in Montreal Announces more Retail Tenants Ahead of Summer 2024 Opening: Interview with Carbonleo CEO Andrew Lutfy [Exclusive]

Lutfy says that he aims to make Royalmount a world-class destination with a mix of retail, foodservice and attractions that will be unlike anything in Canada.

6. KIT + ACE Launches Store Expansion in Canada Under New Ownership [Interview]

Future KIT + ACE at CF Toronto Eaton Centre (Image: Dustin Fuhs)

The Vancouver-based retailer will open two locations this fall in Toronto and Calgary, with plans for a substantial expansion into 2024 says CEO David Lui.

5. Insomnia Cookies Expands into Canada With 1st Canadian Location Opening in September [Interview]

Insomnia Cookies at York University in Toronto, Ontario (Image: Insomnia Cookies)

The brand known for delivering warm cookies to satisfy late-night cravings, is entering the Canadian market after seeing huge success in the US.

4. Why So Many American Retailers have Failed in Canada [Feature/Expert Interviews]

Nordstrom at CF Toronto Eaton Centre (Image: Dustin Fuhs)

Following the announcement of Nordstrom’s exit from Canada, Retail Insider interviewed a panel of experts about why various retailers from the US have struggled here.

3. Nordstrom and Nordstrom Rack to Exit Canada and Shut All Stores

Nordstrom at Yorkdale (Image: Dustin Fuhs)

The Seattle-based large format retailer has been in Canada for almost a decade and is said to have never made a profit.

2. Salvation Army Thrift Store in Canada Faces Unprecedented Donation Slump Amid Consumer Shift [Interview]

The Salvation Army (Image: downtownacton.ca)

As the cost of living rises and online resale gains popularity, the thrift store is struggling to maintain its product assortment at a critical time.

1. Zellers to Open Initial 25 Stores in Canada with Potential Return of Mascot ‘Zeddy’

SUBURBAN OTTAWA STORE. PHOTO: MONIKA JASKOLKA VIA GOOGLE MAPS

The new concept stores will feature a range of product categories and marketing indicates the return of a popular teddy bear mascot.

Keep reading Retail Insider, as we’ll be reporting on Canadian retail industry stories in 2024. Let’s all have a safe and prosperous new year!

Loblaw’s Galen Weston Makes Questionable Claims and Attempts to Obstruct Grocer Code of Conduct [Op-Ed]

By

Sylvain Charlebois

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January 2, 2024

loblaws store — Loblaws store. Photo: Loblaws

Ottawa recently witnessed a dramatic scene, especially during the proceedings of the Parliamentary Committee on Agriculture, where a few witnesses chose to prioritize their agendas over assisting our elected officials in comprehending the complexities of food prices and the necessary actions to be taken.

One particular individual, an economist seemingly more interested in grabbing headlines and camera attention to boost fundraising and personal interests, made bold claims about “record and excessive profits” in the grocery sector for 2023. The term “excessive profits” has become a favourite slogan for those seeking to foster animosity towards businesses. However, it’s crucial to note that his argument relied on Statistics Canada data, which encompasses convenience stores and specialty stores in its dataset, not solely the major grocers. The sensationalized “$6 billion” figure quickly circulated in the news, causing considerable harm. The facts indicate that gross margins, a valuable metric for assessing whether a company overcharges for its goods, will remain at 3.4 percent, consistent with the 5-year average for Loblaw, Empire, and Metro.

Regrettably, we shouldn’t expect an apology from this economist. He seems intent on misleading Canadians, insisting that profits should continue to rise due to inflation, all the while resorting to attention-grabbing headlines and fearmongering tactics, which regrettably prove effective. This was a reprehensible misuse of a platform to advance a political, anti-corporate agenda—utterly disappointing and disingenuous.

Loblaw also made some questionable claims during their visit to Ottawa concerning the potential impact of a grocer’s code of conduct. The company admitted on December 23 that the Australian example cited by its CEO, Galen Weston, to justify their refusal to sign the code of conduct was inaccurate. At that time, Loblaw’s CEO expressed concerns to federal officials that the current code of conduct could potentially increase food prices by $1 billion, arguing that, in Australia, the third-party responsible for enforcing the code favoured suppliers seeking higher prices, which would harm consumers. None of these claims held.

Inside a Loblaw Grocery Store (Image: Dustin Fuhs)

At least Loblaw eventually acknowledged its error, albeit on December 23 when most of us were preoccupied with holiday preparations.

Leaving aside Loblaw’s failed attempt to obstruct the industry’s efforts to implement a more disciplined and fair code of conduct, Ottawa’s primary focus should be on fostering competition. Providing consumers with more choices and making the Canadian food market more attractive to external investors is essential. The code of conduct should be a non-government, third-party-led mechanism enabling companies to resolve disputes related to contractual terms rather than pricing per se. Currently, as grocers unilaterally raise listing and marketing fees imposed on suppliers, manufacturers, in turn, increase prices to offset these higher fees set by grocers. This results in a cycle that ultimately impacts consumers, often without their awareness.

This is the only way food prices can become more stable over time. In countries like Ireland, Australia, and the United Kingdom, where such a code exists, food price increases, adjusted for inflation between 2013 and 2023, have been negative, whereas Canada’s food price increase adjusted for inflation over a decade was 8.9 percent. While a code of conduct may not entirely curb food inflation, it will help the industry coordinate vertically and address market turbulence, which is often triggered by factors like climate change and geopolitics, leading to price volatility and sticker shocks.

Ottawa should compel all parties, including those who oppose the code like Loblaw and Walmart, to adhere to the code of conduct. That should be the shared goal of all Canadians for 2024.

2023 Canadian Holiday Shopping Report Reveals Surging Demand for Discounts and Deals Amid Economic Caution [Interview]

By

Mario Toneguzzi

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December 20, 2023

Black Friday at Yonge Dundas Square (Image: Dustin Fuhs)

2023 Black Friday shopping in Canada reflected the economic climate and was an indicator of what we could expect for the rest of the holiday shopping season, according to the 2023 Canadian Black Friday & Holiday Shopping Report by DIG360 and the Angus Reid Group.

Current economic factors and financial concerns for the future have been dampening consumer spending in the second half of 2023. This has been creating a focus on household budgets not seen in recent memory. Black Friday deals seem to be benefiting from this macro climate. Almost all (93 per cent surveyed) stated they were being more careful with expenses this season. Half (53 per cent) were shopping for items that provided best savings while 29 per cent sought best quality for a preset budget, all prioritizing buck over bang. There are also those who are not as impacted and are freely spending. There is not one consumer story,” said the report.

David Ian Gray, Founder and Strategist with DIG360, said the spike in Black Friday this year was significantly higher than any time in its tracking since 2010.

“And not just from those who reported they are watching their expenses more closely,”

Black Friday Sales at Thomas Sabo (Image: Dustin Fuhs)

2023 Canadian Black Friday & Holiday Shopping Report (Angus Reid Group – DIG360)

He said it was fascinating to see the proportion of people buying at least one Black Friday deal outside Canada, mostly online and how the percentage of people who buy at least one Black Friday item is creeping up, but more notably the number of people only using stores has plummeted in this deal season.

“Black Friday deals focus intense shopping pressure and we have seen over time it tends to drive online activity out of proportion to the rest of the year. Yet, shoppers are continuing to report friction in the online experience, particularly timely delivery. The continued impact of Amazon and continued virtue-signaling in other social discussions and surveys that buying local is important, while we see the actual use of local independents remains relatively low.”

Black Friday at DavidsTEA (Image: Dustin Fuhs)

Gray said the bump in activity centered on the week of Black Friday and especially the weekend through Cyber Monday seems to align with its observations that many Black Friday advertisers seemed to delay their push on promotions until that time.

“We also observed abundant direct messaging of deals to subscribed customers through the month, suggesting a customer retention focus as opposed to acquiring new customers. This reflects retailers hunkering down in a down demand era,” he said.

“The fact is that more were buying despite a record dissatisfaction with Black Friday deals. On the one hand, this shows me a discipline across the sector to stay firm on margins. On the other, I suspect this shopper activity reflects a shifting of purchases, perhaps even from August and September, rather than an incremental surge in demand. This might leave the season active on promotional buying but still down from last year.”

Black Friday at Best Buy Canada (Image: Dustin Fuhs)

Gray said how people act in holiday shopping is not the norm for everyone all year.

“That said, the striking number of people saying they are at least somewhat more focused on controlling household expenses might well be setting in as a habit. Since Black Friday deal hunting is often for buying items for oneself, might we see a bigger trough than usual in January?,” he said.“Jason Allsopp at Angus Reid Group added a question about paying for expedited shipping if delivery timeliness is a concern. The result shows how absolutely resistant shoppers are to shipping charges and by extension I would assume the same for restocking or return fees. The industry has its work cut out in 2024 to reframe consumer expectations around free options that are increasingly untenable for the retailers.

“Not all shoppers are cut from the same cloth. Some are relatively well off, also partaking in deal hunting. There is a sizable minority, typically higher income and/or not watching expenses more this season, who were very active deal hunting across many channels. There are those at lower incomes who were sitting it out altogether. Interestingly, 16 per cent are not planning on holiday gift giving.”

Here are the report’s key results:

Proportion of Canadians targeting Black Friday Deals jumped in 2023

“The proportion of adult Canadians buying at least one Black Friday deal reached 49 per cent, the highest since DIG360 tracking began in 2010. This does not mean all retailers did well. It does mean there were more Canadians than past years who tactically sought Black Friday deals or reacted to promos. We believe there was an influx of shoppers this past November who had avoided Black Friday hype in past years.”

Timing of purchases continues to flex

“Amidst the long-run shift away from buying on the day of Black Friday, the increased 2023 activity was centred on the last half of the month, with a strong final weekend and Cyber Monday (spiked to 30 per cent compared to 18 per cent in 2017). Unsurprisingly, shoppers told us they see Cyber Monday as basically the same as Black Friday. Almost half (43 per cent) felt they spend no more time deal hunting than in 2022.”

Shoppers were not seeing great deals

“While more Canadians were actively pursuing ”Black Friday” promotions this year, many retailers were dialing back their mass advertising of deals and the depth and breadth of offers. Another spike this year was the proportion who rated deals to be poor (at 61 per cent, compared with a stable mid-40 per cent from 2017 to 2021). Only four per cent this year rated the deals as great. A full 80 per cent cited seeing higher prices. Of note, 66 per cent are still reporting in-stock challenges and 63 are experiencing shipping charges for online orders.”

Stores are important but eroding for Black Friday. Amazon was a big winner

Warm up with Black Friday deals ☕ https://t.co/mVms3mD8FM pic.twitter.com/D7as6n8U1H
— Amazon Canada (@amazonca) November 24, 2023

“Canadians are leveraging online shopping for Black Friday deals. Specifically, 90 per cent of deal buyers purchased at least one item online and 46 per cent only used the internet for their Black Friday buys. This has been consistent and gradual since 2017 (e.g., 82 per cent bought online in 2018). More notable is the drop in physical store deal buying. In 2018, 80 per cent of Canadian deal-buyers purchased at least once in-store, with 18 per cent only using stores; in 2023, 53 per cent made at least one store purchase and only nine per cent exclusively used that channel). Notably, 48 per cent of buyers bought at least one item from a website outside of Canada, which industry trade statistics fail to capture, and 57 per cent of buyers bought at least one item from Amazon.”

“Good news for the local, independent store owners who are often challenged to stand out during this promotional period. At 41 per cent, more Canadians are browsing or buying local independent stores; in 2018, 32 per cent of Canadian Black Friday deal seekers were browsing or buying local stores and 35 per cent in 2021. However, only 19 per cent of buyers ultimately purchased from a local independent store. Main reasons for not buying were higher prices, lack of selection, and inconvenient locations.”

Black Friday is for ‘self-gifting’ but gift buying for others has started

“By the end of November, 55 per cent of all Canadians said they had begun Holiday gift buying and 29 per cent were waiting until December. Yet of Canadians hunting Black Friday deals, 37 per cent mostly or only sought items for themselves. This is somewhat down from past years, perhaps reflecting the more disciplined approach this year. Many retailers have missed this fact in their promotional Black Friday messaging. Historically Black Friday has cannibalized Boxing Day/Week buying, with the latter benefitting from the spike in redemption of gift cards. Interestingly, 16 per cent of Canadians are not planning to give gifts (we have not asked this previously).”

Outlook for Holiday purchases is muted, with some exceptions

“Only about five per cent of Canadians plan to spend more on gifts this year, which does not vary much by income nor those who are not watching expenses more than in 2022. A bigger difference-maker is age; 10 per cent of those 18-34, the traditional core shopping cohort, expect to spend more. BC (eight per cent) and Alberta (seven per cent) are slightly more optimistic than the rest of Canada. Just under half (46 per cent) of adult Canadians expect to maintain the same level of purchasing on Holiday gifts this year compared to 2022, and 41 per cent plan to spend less. The latter is skewed by those who are being more careful with overall expenses; 51 per cent from those who are watching their expenses more than in 2022 compared with just 13 per cent of those who are less concerned about expenses. Again, there is no one-size fits all definition of shoppers and this is about intention not prediction: those more impulsive may fail to follow their plans.”

Canadians are concerned about timely delivery of Holiday gifts in December yet are reluctant to pay more to expedite shipments

“Heading into December, over half of all Canadians (57 per cent) were concerned about on-time delivery of their ecommerce gift purchases – 21 per cent were ”very” concerned. Of those buying online Black Friday deals, 55 per cent reported experiencing shipping delays. While retailers do offer expedited shipping options for a fee, 80 per cent said they “rarely” or “never” use that option; 50 per cent said they would not use this option when specifically asked about Holiday gift orders. For those who would, the average expedited shipping charge they would consider is $10, which falls below the Priority Rate set by Amazon. Retailers with physical stores have an advantage in December, with certainty of an item in hand, more so if in-store pickup is faster than home delivery. Shopper expectations around timely and free shipping for online gifting are clashing with retailer needs to control margins. Retailers will have to reset shopper expectations in the online channel.”

Cross-border shopping down, resale a factor and lost/stolen shipments impacting

“Here were some other notable observations:

About 1 in 10 (12 per cent) Canadians looked at Black Friday deals in stores in the United States in November. Half of those, or six per cent overall, purchased. In BC, 16 per cent looked and 10 per cent overall bought. This is down from past years, perhaps reflecting a pull back in travel or poor exchange rates;
FB Marketplace and other resale sites were occasionally (26 per cent) or frequently (15 per cent) reviewed during Holiday shopping. We will continue to track this in future;
17 per cent of those who bought Black Friday deals frequently or occasionally experienced lost or stolen shipped items.”

DIG360 has been tracking the Canadian Black Friday experience and its impact on Holiday retailing since 2010. The Angus Reid Group has returned to collaborate on the survey. This study of 1,506 adult Canadians is unique in that it was conducted November 28-30, 2023 – after Cyber Monday. It is balanced and weighted to Canada’s general population on age, gender, and region. For comparison purposes only, samples of this size yield a margin of error of +/- 2.53 percentage points, 19 times out of 20.

Toronto’s Yorkdale Shopping Centre to See Ongoing Retail Transformation into 2024 [Photos]

By

Craig Patterson

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December 20, 2023

Toronto’s Yorkdale Shopping Centre has recently seen several retailers open, with more to come in 2024. That includes a newly dedicated luxury wing which is currently under development.

The shopping centre is the most productive in Canada in terms of sales per square foot, and it also boasts the most comprehensive clustering of luxury brand stores anywhere in Canada.

That clustering of luxury brands continues to expand with new entrants. A couple of months ago, Kering-owned luxury jewellery brand Qeelin opened its first store in North America at Yorkdale in a 715 square foot space in the mall’s under-construction luxury wing. Construction on the jewel box-like boutique took months, with a challenge including sourcing black marble for the store’s facade that features two white streaks running through it. Construction firm Elevate Build carried the project to completion.

Chinese-focused jeweller Qeelin opened its first store in North America this year at Yorkdale. Photo: Craig Patterson

Women’s fashion brand Anine Bing opened its first Canadian store recently at Yorkdale. Chinese-focused jeweller Qeelin opened its first store in North America this year at Yorkdale. Photo: Craig Patterson

US-based women’s fashion brand Anine Bing recently entered the Canadian market with its first store being at Yorkdale. Included is Bing’s range of women’s apparel, footwear, bags and accessories. The store’s design and interior appear rather minimalistic compared to some of the more lavish luxury brand storefronts nearby. Anine Bing opened in a retail space recently vacated after the exit of TWG Tea, who’s Canadian owner passed away.

Sleep Country Canada recently opened its upscale concept ‘the rest’ at Yorkdale. Photo: Craig Patterson

Sleep Country Canada-owned luxury concept ‘the rest’ recently opened in Yorkdale’s 2017 west wing. The lovely new store features a range of premium mattresses, including one at the back of the space priced at about $50,000.

Watch brand Swatch recently opened a storefront at Yorkdale, as part of a national expansion for the brand.

New Lego store in the north wing at Yorkdale. Photo: Craig Patterson

Several brands have also recently relocated at Yorkdale and all were formerly in the central wing of the mall that is now being re-tenanted exclusively for top luxury brands. That includes toy retailer Lego, men’s fashion brand Untuckit, streetwear retailer Plus, and Michel’s Bakery. Lego recently moved into a space in the north wing of the centre, which is very busy with pedestrian traffic. Untuckit relocated to a retail space next to Mango and across from Harry Rosen. Plus will soon open in the north wing of the mall. And Michel’s Bakery next year will move into a space recently vacated by Tristan in the north wing of the mall — Michel’s Bakery has been located in the central ‘spine’ corridor of the mall for decades, so this is a major change for them.

Men’s retailer Untuckit recently relocated at Yorkdale. Photo: Craig Patterson

Streetwear retailer Plus will soon open in the north wing of Yorkdale. Photo: Craig Patterson

Michel’s Bakery, one of the oldest tenants at Yorkdale, is relocating after decades in the central corridor of Yorkdale. Photo: Craig Patterson

Vancouver-based outdoor brand Arc’teryx just relocated its Yorkdale store from the mall’s 2016 expansion wing to a 3,600 square foot space that was created for a pop-up area called CONCEPT. The new Arc’teryx features a dramatic facade with a video screen showcasing snow sports, which can become mesmerizing for someone passing by.

New Arc’teryx store at Yorkdale where CONCEPT had been since 2017. Photo: Craig Patterson

New Starbucks at Yorkdale in the 2017 west expansion wing. Photo: Craig Patterson

New Delysées cafe in a former Starbucks spade at Yorkdale. Photo: Craig Patterson

The west Starbucks at Yorkdale relocated to a much larger 2,300 square foot space in the mall’s 2017 expansion wing, near Restoration Hardware. Starbucks will increase foot traffic into the area, which has been a bit quieter than other parts of the mall. A Delysées cafe moved into the former 775 square foot Starbucks space next to Rolex.

Pop-ups are part of the mall as usual in December — that includes a Lululemon pop-up for its Wunder Puff jacket in the north wing, as well as an elevated concept for liquor label Johnnie Walker in the mall’s 2017 west expansion wing. Dior sponsored this year’s Christmas tree near the mall’s TTC entrance, and the tree is beautiful.

Lululemon pop-up in the north wing for the brand’s Wunder Puff jacket. Photo: Craig Patterson

Johnnie Walker pop-up in the 2017 west expansion wing at Yorkdale. Photo: Craig Patterson

Wonka interactive installation at Yorkdale – a Nordstrom store had been located behind this until the retailer’s exit from Canada earlier this year. Photo: Craig Patterson

Dior Christmas tree/display at Yorkdale. Photo: Craig Patterson

As we head into January, more luxury will be coming to Yorkdale. Italian luxury brand Brunello Cucinelli is building a 3,250 square foot store in the mall’s new central luxury wing that opens in January, and construction hoarding is also up for Canada’s first location for Spanish luxury brand Loewe. No other construction hoarding is up for luxury brands opening in the new wing, though sources say some standalone stores will include relocated brands currently operating concessions at Holt Renfrew.

Opening in a few weeks: Standalone Brunello Cucinelli store at Yorkdale. Photo: Craig Patterson

Spanish luxury brand Loewe will open its first standalone store in Canada at Yorkdale. Photo: Craig Patterson

Chanel will be expanding its concession at Holt Renfrew Yorkdale. That includes annexing space occupied by Brunello Cucinelli in this photo, while also taking space upstairs. Photo: Craig Patterson

One brand staying at Holt Renfrew is Chanel, which will significantly expand its concession at Holts. The 4,000 square foot Chanel concession will annex the adjacent Brunello Cucinelli concession space, and will also expand upwards by taking a significant amount of space on the second level of Holt Renfrew where women’s contemporary fashions are located. This move will coincide with a partial renovation to the Holt Renfrew store, according to sources. The expanded Chanel concession will likely become the largest Chanel boutique in Canada, and possibly the largest shop-in-store concession for Chanel anywhere in the world.

We’ll be reporting more on Yorkdale in 2024 as new retailers open in the mall. Happy holidays to you from everyone at Retail Insider.

2024 Food in Canada to Look Much Different than Year Prior [Op-Ed]

By

Sylvain Charlebois

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December 20, 2023

Pusateri's at Bayview Village (Image: Dustin Fuhs)

As we approach 2024, Canadians are confronted with a landscape profoundly altered by the surge in food prices. The most recent survey, conducted by the Agri-Food Analytics Lab at Dalhousie University in partnership with Caddle, provides valuable insights into these shifts. It reveals the resilience and adaptability of Canadian consumers while also shedding light on the underlying economic pressures that could reshape the food industry. These findings suggest that 2024 will bring about noticeable changes at the grocery store.

Canada’s Food Price Report 2024, released a few weeks ago, predicts a more moderate increase in food prices, with the average family expected to allocate up to $700 more for groceries in 2024. This projection represents over 30% less than last year’s forecast. As a follow-up, this new survey captures the perspectives of 5,000 Canadians, offering us a glimpse into their expectations for the coming year concerning food in general.

Prices at Shoppers Drug Mart in Toronto (Image: Dustin Fuhs)

A staggering 80.3% of Canadians anticipate further price hikes in the upcoming year, which is hardly surprising. This expectation is driving significant shifts in shopping habits, with 43.3% of respondents planning to focus more on promotions, 34.6% on using coupons, and 33.6% on loyalty programs. Additionally, 30.6% are contemplating switching stores to secure better deals in 2024. These trends signify a heightened consumer sensitivity to prices, which will likely exert pressure on retailers and food producers to maintain competitive pricing structures. This is why Canada’s Food Price Report 2024 suggests that price wars might be a strategy to regain consumer loyalty – good news for consumers, something we all need.

The survey also uncovers a shift in product preferences. Only a small percentage of Canadians (14.9%) plan to purchase more organically grown products in 2024 and 12.0% intend to buy more fair-trade products. This highlights a nuanced balance between ethical consumption and financial constraints.

One of the most remarkable aspects of the survey is the emphasis on reducing food waste. The average Canadian household generates 140 kilograms of food waste annually, equivalent to more than $2,500 in wasted food, representing a significant expenditure. In response, 48.0% of Canadians intend to enhance their meal planning and shopping strategies in 2024, 36.2% plan to consume leftovers more frequently, and 32.7% aim to employ better preservation methods.

While things are projected to improve at the grocery store in 2024, restaurants are not expected to have it easy. The survey further reveals a decline in dining out, with 38.3% of Canadians planning to eat out less frequently in 2024, and 12.2% not at all. This could have substantial implications for the restaurant industry, potentially leading to reduced revenues and necessitating shifts in business models. However, considering the increasing costs of shelter and other essentials, this trend is not surprising. As a result, we anticipate a growth in ready-to-eat counters, with “dining in” becoming more popular in the months to come.

Sobeys in Nova Scotia (Image: Field Agent Canada)

The survey also inquired about Canadians’ New Year’s resolutions for 2024. It’s always interesting to learn what Canadians intend to do in the new year, especially when it comes to food. Health appears to be the top priority for Canadians in 2024, with 14.9% planning to make healthier food choices. This is followed by cooking more at home (13.7%). Drinking more water and staying hydrated ranks as the third most popular resolution, followed by exercising more to complement a balanced diet.

The findings from the Dalhousie University survey reveal a broader economic narrative: Canadians are increasingly concerned about rising food prices, leading to a shift in their food consumption habits. From relying more on promotions and loyalty programs to placing a greater emphasis on reducing food waste, Canadians are adapting to manage their food expenses in diverse ways. This change goes beyond economics; it represents a cultural shift in how we approach our food choices and consumption patterns.

The survey paints a picture of a population proactively adjusting to economic realities. Canadians are becoming more savvy about food and food expenditures. The implications of these changes are far-reaching, affecting everything from household spending to industry practices and policy decisions. As we enter 2024, it will be crucial for all stakeholders in the Canadian food economy to comprehend and respond to these evolving consumer trends.

Chow Tai Fook Jewellery Opens First Location in Toronto

By

Mario Toneguzzi

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December 20, 2023

Chow Tai Fook Jewellery at CF Fairview Mall in Toronto (Image: Chow Tai Fook Jewellery)

Hong Kong-based retailer Chow Tai Fook Jewellery has opened its first location in the East Coast of Canada at the CF Fairview Mall in Toronto.

“Chow Tai Fook Jewellery Group has been consistently evaluating and exploring opportunities in markets with strong retail demand. Canada, with its stable and expanding jewellery market, presented an appealing opportunity for us,” said the company in a statement.

“In December this year, we proudly opened our first store in Toronto, the largest and one of the most culturally vibrant cities in Canada. Toronto boasts a large Chinese community and attracts a diverse range of tourists and residents from various backgrounds. By establishing a presence in the city, we are confident that Chow Tai Fook Jewellery can effectively connect with this diverse customer base and cater to their unique preferences and needs.

“We look forward to the growth and expansion opportunities across Canada in the years to come.”

The brand has a 94-year legacy and it held a grand opening ceremony for the new store on December 8 with guests including local community members with several senior executives from its Hong Kong headquarters.

Chow Tai Fook Jewellery at CF Fairview Mall in Toronto (Image: Chow Tai Fook Jewellery)

“As an advocate for preserving traditional gold craftsmanship, Chow Tai Fook’s HUÁ Collection breaks conventional boundaries by redefining the rules of gold jewellery. The collection is an ode to innovation by blending contemporary designs with the essence of traditional Chinese culture, pays tribute to Chinese heritage by transforming gold pieces into stylish fashion statements embedded with the vibrancy of traditional Chinese culture suitable for everyday wear,” says the brand.

Chow Tai Fook Jewellery Group Limited (the “Group”; SEHK stock code: 1929) was listed on the Main Board of The Stock Exchange of Hong Kong in December 2011. The Group’s vision is to become the most trusted jewellery group in the world.

Founded in 1929, the Group’s iconic brand “CHOW TAI FOOK” is widely recognized for its trustworthiness and authenticity, and is renowned for its product design, quality and value. A long-standing commitment to innovation and craftsmanship has contributed to the Group’s success, along with that of its iconic retail brand, and has been embodied in its rich heritage. Underpinning this success are its long-held core values of “Sincerity • Eternity”.

The Group’s differentiation strategy continues to make inroads into diverse customer segments by catering to a bespoke experience for different lifestyles and personalities, as well as customers’ different life stages. Offering a wide variety of products, services and channels, the Group’s brand portfolio comprises the CHOW TAI FOOK flagship brand with curated retail experiences, and other individual brands including HEARTS ON FIRE, ENZO, SOINLOVE and MONOLOGUE.

The Group’s commitment to sustainable growth is anchored in its customer-centric focus and strategies, which are in place to promote long-term innovation in business, in people and in culture. Another asset underpinning sustainable growth is a sophisticated and agile business model. This supports the Group by fostering excellence and extending opportunities along the entire value chain to communities and industry partners across the world.

With an extensive retail network in China, Japan, Korea, Southeast Asia, the United States and Canada, as well as a fast-growing smart retail business, the Group is implementing effective online-to-offline (“O2O”) strategies to succeed in today’s omni-channel retail environment.

Chow Tai Fook Customer Service Hotline: (852) 2526 8649 / Website: www.chowtaifook.com

Amazon Releases Impact Report Showing Significance of the Company to Canada’s Economy

By

Mario Toneguzzi

-

December 20, 2023

Amazon is a powerful engine of growth for the Canadian economy and the company’s 2023 Amazon Canada Impact Report indicates just how important it has become in the economic fabric of this country.

The report says that in 2022, the company invested more than $12 billion in Canada, including infrastructure and compensation for employees. Since 2010, it’s more than $40 billion.

The report says that in 2022 the investment indirectly supported more than 87,000 jobs in areas like construction, logistics and other professional services.

And investments contributed to more than $9 billion to the Canadian GDP in 2022. That contribution is $33 billion since 2010.

Kristin Gable, Senior Manager, Corporate Communications (Canada) at Amazon, said this is the fourth year for the company’s Impact Report.

“The Amazon Canada Impact Report has become a really invaluable resource for helping Canadians better understand not only how Amazon invests in Canada, what are the different Amazon businesses that operate in Canada, how many Canadians do we employ, where are we located. Not only does it give a great summary of Amazon’s presence in Canada but our goal is to also demonstrate how we’re using our scale and our capabilities for the benefit of Canadians,” she said.

“That’s why you’ll see in the report things like our map of locations but how also how we’re working with community organizations, how we’re investing in sustainability, how we’re working with creative industries through Prime Video and Amazon Music. So really a holistic look at not only how Amazon operates in Canada but how we are operating for the benefit of Canadians.”

Here’s some interesting numbers showing Amazon’s impact on Canada:

More than 45,000 full and part-time employees;
More than 8,000 corporate and tech roles at Tech Hubs;
Two Tech Hubs in Toronto and Vancouver;
More than 500,000 items donated to charities in 2022;
More than 60 operation sites;
Four renewable energy projects generated an estimated $478 million in local economic investment and contributed $206 million in total GDP from 2014 to 2022;
Nearly 3,000 participants in Amazon Career Choice in 2023;
More than 30 scripted and unscripted Amazon MGM Studios productions filmed in five provinces plus post production work contributing $1.4 billion in estimated value added to Canada’s GDP between 2021 and 2022;
More than 20 million items available with free Prime shipping; and
10-year anniversary of Prime in Canada.

“If you really put those (economic) numbers into context we’re very proud of the fact that we invest significantly in Canada and I think the benefit of sharing those numbers, for example since 2010 we’ve paid more than $13 billion in wages to employees or since 2010 our investments have contributed $33 billion to the GDP, these are really significant numbers and seeing them in the context of an Impact Report which looks at things like how we invest in employees, how we’re investing in our delivery network, it’s a way to really see those numbers in action and appreciate the impact they’ve had,” said Gable.

“I think for a lot of people looking at a figure like $40 billion which is how much Amazon has invested in Canada since 2010, you can really appreciate that when you see how that investment comes to life through our businesses and through our various initiatives. The goal of presenting these numbers in the context of a broader Impact Report is to really bring that impact to life and make it tangible and Canadians can really understand how Amazon’s business is coming to life in their own backyard.”

Amazon’s footprint in Canada includes 20 fulfillment centres, six sortation centres, two Tech Hubs, 31 delivery stations, six AMXL delivery stations, three corporate offices, 1 AWS Cloud Region, and 1,000+ Amazon pick up points.

In 2023, Just Walk Out technology arrived in Canada. Leveraging artificial intelligence (AI), including computer vision, machine learning, and generative AI, Just Walk Out technology enables shoppers to grab what they want and simply leave the store.

Fans of the Calgary Flames, Toronto Maple Leafs, Toronto Raptors, and concert goers can quickly grab their snacks and beverages without missing the action thanks to Amazon’s checkout-free technology.

Just Walk Out technology first became available at two Canadian arenas—Scotiabank Saddledome, home of the NHL’s Calgary Flames on September 29 and Scotiabank Arena, home of the NHL’s Toronto Maple Leafs and the NBA’s Toronto Raptors on October 10—with more Canadian locations rolling out soon.

Canada now joins the U.S., UK, and Australia as nations offering checkout-free shopping experiences for consumers, allowing fans to get back to their seats quickly without missing any of the sporting action or concert entertainment, said Amazon.

Amazon said it is using its size and scale to lead and make a difference in tackling climate change, which is why it is committed to reaching net zero carbon emissions by 2040 through The Climate Pledge.

“The Climate Pledge is a commitment to reach net-zero carbon emissions by 2040—10 years ahead of the Paris Agreement. Amazon co-founded The Climate Pledge in 2019 to build a cross- sector community of companies, organizations, individuals, and partners working together to address the climate crisis and solve the challenges of decarbonizing our economy,” said the report.

“Amazon is on a path to power its operations with 100% renewable energy by 2025, five years ahead of our original 2030 commitment. With a total of four renewable energy projects in Canada, Amazon is currently the largest corporate purchaser of renewable energy in the country, according to BloombergNEF. Once operational, the projects will generate more than 2.3 million megawatt hours (MWH) of clean energy – enough to power 1.69 million Canadian homes.”

“As Amazon moves to powering our operations with 100% renewable energy, we’re proud to support new solar and wind projects in Canada, which will help power our next AWS data centre Region in Calgary, Alberta, and provide clean energy to local communities where our customers live and work. These projects are also helping create jobs, support local businesses, and boost the local tax base, which are all part of Amazon’s broader commitment to become a more sustainable company,” said Nat Sahlstrom, AmazonWeb Services Head of Energy, Water, and Sustainability.

Canadian Retail News From Around The Web For December 20th, 2023

By

Retail Insider

-

December 19, 2023

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 24 hours.

Food industry groups accuse Galen Weston of inaccurate claim over grocery code (CTV)

Inside Kia’s scheme to deliberately withhold deliveries in Canada to secure a bigger marketing budget in 2024 (CBC)

In 2024, Canadian consumer spending will come back from the dead (Globe & Mail / paywall for subscribers)

Canada’s inflation rate holds steady at 3.1% (CBC)

Estevan mall starts main entrance construction, ready to celebrate 50th anniversary (SaskToday)

Holiday shopping: Shoppers turn to thrift stores amid inflation (CTV Winnipeg)

B.C. retailers report slow holiday shopping season (CTV)

B.C.’s new single-use-plastics rules (CityNews)

Thanks, Amazon! Online retailer creates tax windfall for Ontario township (Financial Post)

Ontario mail-order cannabis is a government monopoly, and licensed retailers want in (Postmedia)

‘We need to support them’: Local businesses count on holiday shopping to stay open (CTV Atlantic)

Saskatoon advances downtown revitalization project with key reports (Journal of Commerce)

It’s Christmas all year round at this jolly Old Montreal shop (Montreal Gazette)

Balenciaga Expands Further in Canada with Standalone Downtown Vancouver Store [Photos]

By

Craig Patterson

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December 19, 2023

1702935333580 — Thurlow Street facade of the new Balenciaga in Vancouver. Photo: Martin Moriarty

Kering-owned luxury brand Balenciaga has opened a large storefront in downtown Vancouver. It’s part of a much bigger investment by the brand to open standalone stores in major cities across Canada.

The Vancouver store has the address 1095 Alberni Street, and spans 4,817 square feet on one level. Balenciaga occupies the entire retail space at the base of an office tower on the site. Originally Balenciaga was going to take a smaller space and eventually negotiations led to it taking the entire retail podium that formerly housed an Escada store and coffee shop.

The store, featuring a subdued grey interior, houses the brand’s range of ready-to-wear for women and men as well as an expansive assortment of bags and footwear. Other categories including accessories can be found in the new store.

Exterior of the new Balenciaga store at 1095 Alberni Street in Vancouver. Photo: Martin Moriarty

Inside the new Balenciaga store at 1095 Alberni Street in Vancouver. Photo: Martin Moriarty

Mario Negris and Martin Moriarty of Marcus & Millichap negotiated the lease deal for the new Balenciaga.

The Vancouver store is part of a major investment by Balenciaga into Canadian retail. Most recently, Balenciaga opened a 3,930 square foot store at West Edmonton Mall in Edmonton, which carries the brand’s bags and footwear for men and women, as well as some ready-to-wear clothing.

Balenciaga is said to have been in talks with landlord Carbonleo to open a store at Royalmount. It’s not known if a deal has been finalized. Royalmount is scheduled to open mid-August 2024. Sources also say that Balenciaga is looking to potentially have a concession presence at Holt Renfrew Ogilvy in Montreal by converting branded wholesale areas to leased spaces operated by Balenciaga.

Given that Balenciaga has opened in Edmonton, the Calgary market could become a target for the brand at some point. The most likely location for a standalone store in the city would be at CF Chinook Centre, given existing luxury brand tenants in the mall including Louis Vuitton, Tiffany & Co. and Burberry.

In downtown Vancouver, Balenciaga operates a sizeable ‘world of’ concession on the main floor of Holt Renfrew, in what has become a luxury hall. The Balenciaga boutique opened in late 2018 and carries a range of men’s and women’s ready-to-wear as well as footwear, bags and other categories. The Holts boutique will remain open after Balenciaga opened its standalone store just blocks away.

Alberni Street/Thurlow Street corner of the new Balenciaga store at 1095 Alberni Street in Vancouver. Photo: Martin Moriarty

Balenciaga at West Edmonton Mall. Photo: Christa Patterson

That’s also the case in Toronto’s Bloor-Yorkville, where Balenciaga operates both a standalone flagship store and a ‘world of’ concession in the nearby Holt Renfrew. The concession opened on the main floor of Holt Renfrew at 50 Bloor Street West in the summer of 2019, spanning about 2,000 square feet with expansive frontage. In the summer of 2022, Balenciaga opened a 7,000 square foot two-level store at 92 Yorkville Avenue which is considered to be the Canadian flagship. The store is unique in Canada with its design, which uses ample concrete and metal which was distressed on purpose to make the store appear “raw and dishevelled”.

Balenciaga’s first standalone store in Canada opened in December of 2019 at Toronto’s Yorkdale Shopping Centre. The store spans about 4,700 square feet with about 3,000 square feet being retail space.

Luxury brand Balenciaga was founded in 1919 by Spanish couturier Cristóbal Balenciaga in San Sebastian, Spain. The brand is now headquartered in Paris and is owned by French conglomerate Kering.

Massive First Nations Taza Project in Suburban Calgary Adding Retailers with More Phases Being Planned [Interview]

By

Mario Toneguzzi

-

December 19, 2023

The Shops at Buffalo Run, part of Taza, one of North America’s largest First Nation development projects, continues to welcome new retailers to the sprawling project, on Tsuut’ina Nation, adjacent to Calgary.

And the overall development is poised to launch some of its other projects, including residential, on the massive site.

“We as Calgarians are always excited about growth and new things. The investment that the Ring Road (nearby and through the First Nation) represents and the increased accessibility in the Calgary southwest in particular really made this land become an extension of the community we all live in,” said James Robertson, President and CEO of Taza Development Corporation.

“Calgarians are looking for new places to live and the location of this land that has had its accessibility dramatically change with the investment in the Ring Road and then when we combine that with the natural amenities of the Weaselhead (Flats Natural Environment Park), the Glenmore Reservoir and the natural areas around that, has just made it a spectacular spot.

“There are some great established residential neighbourhoods beside us from Lakeview and Discovery Ridge to further down you get into neighbourhoods around Southland Drive and Anderson Road. These are highly desirable areas for Calgarians to live.”

Taza Development Corporation is the development company hired by the limited partnership comprised of the First Nation and real estate company Canderel. They are 50/50 partners in the development.

Taza is made up of three villages currently referred to as Taza Park, Taza Crossing and Taza Exchange.

Taza Exchange is probably best known as it is home of The Shops at Buffalo Run, which is 278,000 square feet of retail and some office. It opened last year with tenants continuing to open this year and throughout early next year.

“There’s still some space left there but we’re down to about 10 per cent left in space. We’re almost full and it’s doing extremely well,” said Robertson.

“The Shops at Buffalo Run were started shortly after the Costco was started and Costco at Buffalo Run has been open I think three years now and does extremely well. It’s one of the highest performing Costco’s in Canada. A very busy spot.

“We are currently planning Phase Two at that development likely to include a grocery anchor, a restaurant and potentially residential. We are starting the site work in the spring of 2024 and we’re working on agreements right now with potential tenants and some of them will initiate construction next summer and some of them will be in 2025.”

Costco at The Shops at Buffalo Run (Image: Taza)

Currently about 25 businesses are open.

“We’ve done a really comprehensive job on trying to make sure we hit all the marks on a retail experience. So we have everything from a daycare and tenants that orient towards young kids. So everything from a dentist to a daycare. We have a very large pet store, veterinarian and dog care that will open early next year. Gold’s Gym will likely open early next year as well and then we have our complement of a really good cross section of food choices. Everything from a Freshii/Chopped Leaf type product right through to an KFC and Tim Hortons. A little bit of everything,” said Robertson.

“We kind of complement that with some special uses like physio and medical. It really is a comprehensive experience. And we have a series of banks. Everything from BMO and TD and Servus.”

He said the second phase of the retail development will add between 150,000 to 200,000 square feet.

Upon full completion, The Shops at Buffalo Run will include 60 retailers. The cultural training offered to new businesses joining the Shops at Buffalo Run has provided a unique opportunity for education and inclusion which continues to support the overall Taza project pillars.

“The design of The Shops at Buffalo Run, and the design of the entire Taza development, provides a unique opportunity to support businesses while also gaining an understanding of Indigenous art and design through unique murals and features,” said Maureen Henderson, Vice President, Community Experience for Taza Development Corporation. “Today, Buffalo Run provides a new shopping experience that is both inclusive and educational, allowing Calgarians to immerse themselves in the rich cultural heritage of the Tsuut’ina Nation.”

Taza is Dené, the language of the Tsuut’ina people, and means ‘something wondrous is coming.’ The Shops at Buffalo Run offer a variety of retail stores and shops within a distinct Tsuut’ina environment: unique art and architectural features provide a strong sense of place and culture while offering modern amenities and services. Several retailers have commissioned murals and other artwork by Tsuut’ina artists to represent the history, culture and connection to the land of the Tsuut’ina people.

Several businesses have been working with Tsuut’ina artist Josh Littlelight to create Indigenous murals, including Cupboards Express and Papa John’s Pizza. The murals are inspired by the people and history of the Tsuut’ina Nation.

Taza spans 1,200 acres.

In Taza Park, which is the land around the Grey Eagle Resort and Casino, the auto dealership Metro Ford has opened as well and Big Four will open too and construction is underway for a Volkswagen dealership. A couple of more dealerships are to come as well.

“We are launching our residential project in Taza Park next fall and we are currently in conversations with residential builders about sites in that neighbourhood and we are currently starting conversations with tenants for our Main Street in Taza Park which will include everything from grocery stores and pharmacies to boutique fitness and restaurants,” said Robertson. “Things are going well. Obviously a long way to go from ideas to creation but I think everyone’s excited about the opportunity.”

Taza Crossing is a future project on the development site.

“It will be a combination of a business innovation centre and residential,” said Robertson.

Robertson said housing on the overall development will encompass everything from villas, townhouses, condominiums and purpose-built rentals.

“I think Taza Park will have approximately 6,000 homes. The other two developments we haven’t quite figured out yet,” he added.

The Tsuut’ina Nation is home to 2,300 community members.

Canderel is one of Canada’s largest privately held real estate companies. It was founded in 1975 by Jonathan Wener and has since grown from its base in Montreal to seven offices across Canada. Canderel owns and manages a more than 30 million square feet real estate portfolio in Canada’s seven major markets – Quebec City, Montreal, Ottawa, Toronto, Calgary, Edmonton and Vancouver. Their team of over 650 real estate professionals has executed more than $20 billion in acquisitions, developments and management projects since its founding.

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