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Anatomy of a Leader: Stewart Schaefer, President and CEO of Sleep Country Canada

By
Mario Toneguzzi
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Anatomy of a Leader: Stewart Schaefer, President and CEO of Sleep Country Canada

Stewart Schaefer has been a leader in the sleep industry for almost three decades.

But his journey to a successful career in the retail industry began after he initially worked in the financial industry – more specifically the commodity markets. Lessons learned in financial world are still being utilized today as President and CEO of Sleep Country Canada and Dormez-vous.

He was born and raised in Montreal and majored in marketing and minored in finance at Concordia University in Montreal.

“I thought I was going to end up being a stockbroker which is where my world originally began,” he said.

“In the last year of university I was managing a tennis club because I love tennis. It’s my number one passion and I had a little bit of extra time on my plate so I went knocking on all the doors of the brokerage houses downtown in Montreal, because I just wanted someone to let me in to polish their shoes or get their lunches.

“And actually finally one firm let me through the door and let me get their lunches, polish their shoes. This was like 35 years ago and eventually one of the brokers brought me into his office and started to let me work on some charts and some analysis with him – like his little helper. And by the end of the summer they offered me a job. It was a company called Dean Witter which is now Morgan Stanley. They offered me a job to go out to Chicago and they would train me to be a commodity broker and trade in the pits in the Chicago Board of Trade and the Chicago Mercantile Exchange.”

Image Provided by Stewart Schaefer

To his parents’ chagrin, he packed up and went to Chicago for about two years. He was transferred to New York and was there for about another year and a half. The company then opened up a commodity department in their office in Montreal. Schaefer then moved back home trading commodities from when he was 20 years old for about six or seven years.

“One of my largest accounts was this Taiwanese gentleman who lived in Taiwan and went back and forth from Canada and Taiwan with the Presidents of the Taiwanese associations in Canada. He became very close with me and he was a big trader in commodities but he also, and this is the rub, manufactured brass and wrought iron headboards and footboards in China,” said Schaefer.

“I became very, very close within the Taiwanese community. I learned how to speak Mandarin. I would play mahjong with them on the weekend and one day he asked me to leave my commodity business and help him develop his headboard and footboard business in the United States.

“So once again to my parents’ chagrin the Wall Street boy left the commodity business and I ripped out the backseats of my car and developed a company called Heritage Classic Beds. I drove all along I95 in the U.S. from upper state New York down to Florida and knocking on the doors of furniture stores and mattress stores.”

Image Provided by Stewart Schaefer

Schaefer started to build Heritage Classic Beds. The company had a warehouse in Champlain, New York, which is about 30 minutes away from New York.

“One day when I was back in my warehouse I noticed I had a lot of damaged headboards and footboards that I needed to liquidate. So I decided I was going to open a store in Montreal to get rid of my damaged headboards and footboards. I came up with the name for a company called Dormez-vous, which is ‘are you sleeping’,” he said.

“When I went to go set up my first store which is literally going to be 30 years April 1 -my 30-year anniversary is April Fool’s Day – when I went to go set up the headboards and footboards they kept on falling down so I ordered a bunch of mattresses just to hold them up. The next thing I knew when people were coming in to buy my damaged headboards and footboards they were asking about the mattresses also. And the rest is history.”

Image Provided by Stewart Schaefer

Six months later, October 1, 1994, Sleep Country opened their first four stores in Vancouver and Schaefer’s brother was attending the University of British Columbia at the time.

“He said to me ‘hey you stupid brother of mine, who quit the Wall Street world to sell mattresses for a living, there’s someone else crazy like you that just opened up here in Vancouver’,” he said. 

“So he started taking pictures of Sleep Country – the old Polaroid pictures. I even still have them. They’re in my safety deposit box. It’s like a little memory for myself. And he would send them to me and I would try and emulate everything they were doing because in my mind I used to joke and say if they ever come across the country and come to Montreal, they’ll have to buy me because I’m already Sleep Country.

“Fast forward 10 years later, six stores, I get a knock on the door from Christine Magee (co-founder) and Steve Gunn, CEO and the President, and after a six-hour lunch that we had together that was just fabulous culturally wise, ambition wise, idea wise, I knew this is the place I wanted to be and they bought my business in December of 2005.”

Sleep Country Canada Inc. Opens the Market (CNW Group/TMX Group Limited)
Image Provided by Stewart Schaefer

Schaefer, who was the President of Dormez-vous, said the brand went from six stores to 60 stores. He was then asked to take on the merchandising for the entire country and the real estate for Sleep Country. Then the marketing for the entire country. He then introduced ecommerce and then was in charge of mergers and acquisitions. 

Over the years, his title changed to Chief Business Development Officer in 2014. A few years later he became the President and CEO of both Sleep Country and Dormez-vous.

“Along that journey, another exciting part of the business was the change of ecommerce which I was the guy not only bringing ecommerce to Sleep Country because we were only a brick and mortar tactile business, I met the folks from Endy in 2015. It took me until 2018 to buy them because nobody thought ecommerce would grow in our industry. So I eventually bought Endy in December 2018,” said Schaefer.

“Then I ended up buying Hush and then last year I bought Silk and Snow and then I bought Casper, who was my number one competitor, in April 2023. We went from $6 million in sales to now close to $1 billion in sales. It’s been a wild ride.”

Image Provided by Stewart Schaefer

Schaefer said his experience in the financial world helped him navigate risk and reward in his business.

“It gives me a very strong intuition into the consumer . . . I watch a lot of things people don’t watch. Besides that, I watch spreads on interest rates and currencies, because it’s second nature to me based on the fact of being in that business, but the import/export business I was doing it 30 years ago from China when nobody was actually doing it. And I was intimate in terms of the channels, the actual shipping lines and the channels, and how they move from then until now,” he said.

“And I had the foresight luckily enough based on some of the things I was hearing and seeing and on top of it my brother living in China I knew something was going on with the supply chain and this was before COVID that we needed to adjust and change some things as it related to our business. I follow consumer confidence which is very much related to the stock market all the time.”

Fitness and Wellness Concept Sweat and Tonic to Open 18,000 Sq Ft. Location on Yorkville Avenue in Toronto

By
Craig Patterson
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Future Sweat & Tonic at 11 Yorkville (Rendering: Provided)

Fitness and wellness concept Sweat and Tonic will be opening its third location in Toronto’s Yorkville area. It’s the latest fitness business to move into the high-density, rapidly growing neighbourhood which is also home to a considerable number of high-income households. 

Sweat and Tonic’s Yorkville location will be at 11 Yorkville Avenue, at the base of a mixed-use building that will include a substantial residential tower. Sweat and Tonic will occupy about 18,000 square feet on the second floor of the building which is currently under construction and will be called 11YV. Developers of the project include RioCan, Metropia and Capital Developments. 

11YV is a 62-storey development by Metropia, Capital Developments, and RioCan Living (Image: 11YV)
​11 Yorkville Avenue (Image: Craig Patterson)

The Yorkville Sweat and Tonic will feature over 200 classes led weekly by top trainers. There will be social spaces that will “allow community connection, the sharing of ideas, and a place to see and be seen,” according to the company. 

“Drawing from the distinct characteristics and history of the Yorkville neighbourhood, the design will be classically inspired with modern, energizing, and playful reflections throughout, offering a curated, luxury aesthetic with guest experience at the forefront,” said Morgan Thomas, Chief Brand Officer of Sweat and Tonic, in a statement. 

Morgan Thomas

“As we plan the design of our spaces in collaboration with exceptional partners, we’re finding opportunities to elevate the guest experience at every turn. The space speaks to the distinction and prestige of the neighbourhood, while keeping community, technology, innovation, and hospitality top-of-mind. From our top-of-the-line fitness equipment, AV, and lighting systems, to our complimentary amenities including yoga mats, towels, cycling shoes, and fully-stocked change-rooms, to our flexible access options that are price-protected and free from annual contracts, we want the guest journey to be uncomplicated. The moment you step through our doors, we want you to feel cared for, and we’ve removed all of the traditional industry friction so you can come and sweat it out just as you are.”

Sweat and Tonic at The Well (Image: Sweat & Tonic)
Sweat and Tonic at The Well (Image: Sweat & Tonic)

The boutique fitness and wellness hub offers the widest collection of group fitness classes in Canada, according to Sweat and Tonic. The local, curated fitness experience includes spa facilities, cafe and bar offerings, including Tonic House, the multi-functional lounge, workspace and event venue that Sweat and Tonic says inspires collaboration and innovation. Locations also carry retail products from top brands including Lululemon, AZUR, and Consonant Skin+Care. 

David Ingram

“Sweat and Tonic was conceptualized in 2017 to bring the highest quality of group fitness to Canada with Yorkville as the preferred location. We have looked at many spaces over the ensuing years as we maintained a discipline to be selective, and so it’s with great pride we can finally announce another partnership with RioCan to make 11 Yorkville our third home in Toronto,” said David Ingram, Founder of Sweat and Tonic in a statement. 

Sweat & Tonic Shuter Street (Image: Sweat & Tonic)
Sweat and Tonic Shutter Street (Image: Dustin Fuhs)

Yorkville is the third location for Sweat and Tonic, which was founded in Toronto shortly before the Covid-19 pandemic. 

“Our first location at Yonge and Shuter St opened in November 2019 and, despite the impact of COVID-19, it has surpassed all expectations. Our second location at The Well has already exceeded record attendance rates. We are truly grateful to both communities for their overwhelming support and remain optimistic and excited for this next phase of our evolution in one of the city’s most iconic neighbourhoods,” said Ingram. 

The location at The Well opened about three months ago, and spans about 25,000 square feet. It includes the largest indoor cycling studio in Canada, immersive environment Yoga and cycling classes, a state-of-the-art High-Intensity-Interval-Training (HIIT) Studio, personal training services, a member’s only lounge and co-working space, event space, cafe, bar, patio, and an innovative new wellness and recovery hub opening this spring. The wellness and recovery hub will feature biohacking, high-touch, and aqua therapy treatments to support guests’ fitness, wellness and lifestyle goals, according to the company. 

Sweat & Tonic at The Well (Image: Dustin Fuhs)

RioCan is also a landlord of The Well, which opened several months ago and in May will see the opening of a new 70,000 square foot food market. Sweat and Tonic is a key tenant at The Well, occupying a second-level space in a unique purpose-built building at the centre of the project. 

Oliver Harrison

“RioCan is thrilled to expand our partnership with Sweat and Tonic by introducing their second location within our portfolio at 11YV. Following their successful launch at The Well in 2023, we are eager to extend Toronto’s premium boutique fitness and wellness experience to one of Canada’s most exclusive shopping and dining districts,” said Oliver Harrison, Senior Vice President, Leasing and Tenant Experience at RioCan. 

David Wedemire and Stan Vyriotes of DWSV Realty represented Sweat and Tonic in the Yorkville lease deal.

The 11YV tower will rise 65 floors above Yorkville Avenue and will have about 600 condominium apartment units. The building will have about 24,000 square feet of retail space, 18,000 of which will be for Sweat and Tonic’s new fitness facility. 

Sweat and Tonic will be the latest upscale fitness facility to move into Toronto’s Bloor-Yorkville area, which already boasts a high number of fitness facilities. This week we reported on Innovative Fitness, which recently opened its Canadian flagship location at 33 Bloor Street East. The concept focuses on personal training in a 6,500 square foot facility. 

Graham Smith and Brandon Gorman from JLL represented the landlord in the transaction.

11 Yorkville Ave Leasing Map (Image: JLL)
Innovative Fitness Bloor, Toronto, ON (Image: Nick Lachance)

Next year it will be joined by AVANT by Altea Active, a luxury concept gym that will open on the second floor of the former Nordstrom Rack store at 1 Bloor Street East. A source told Retail Insider that memberships would be about $700 a month in terms of pricing. 

Future Altea Active at One Bloor East (Image: Craig Patterson)

The Bloor-Yorkville area is home to three GoodLife Fitness gyms, which have a membership rate at about a tenth of that to be offered by AVANT — and Equinox, which is an upscale US-based fitness concept, has a large facility at the Yorkville Village shopping centre. The area is also home to various smaller boutique fitness concepts such as Barry’s Bootcamp at the back of 100 Bloor Street West, and F45 at 110 Bloor Street West, among others. Sweat and Tonic will bring another offering to the area that will include a mix of fitness and social. 

The next five years will be a transformational time for Bloor-Yorkville as thousands of new residents move into the area, which is seeing new residential construction in the form of condominium apartment towers. Some units are small and will be housed by students at institutions such as the University of Toronto. And some buildings will have units priced well into the millions of dollars each — Yorkville is seeing an unprecedented amount of wealth moving into the area with a considerable number of condo units expected to sell for in excess of $10 million. The expanded wealth in the area is expected to expand the market for upscale fitness facilities in the coming years. 

We’ll follow up on this story when Sweat and Tonic opens its new Yorkville Avenue facility. 

Canadian Retail News From Around The Web For March 21st, 2024

By
Retail Insider
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Canadian Retail News From Around The Web

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 48 hours.

Alimentation Couche-Tard reports lower earnings amid economic headwinds (CityNews)

Couche-Tard supports planning with AI (Chain Store Age)

Leon’s Furniture Limited Announces Change to Senior Management Team (Yahoo Finance)

Grocery store price fatigue prompts Loblaw boycott (CityNews)

Empire Company Eyes Private Brand Growth (Store Brands)

Canada Goose’s Store Strategy Has Fundamental Challenges (Seeking Alpha)

All grocery retail segments gaining in Canada (REMI Network)

Canada grocery prices: Canadian Shoppers guffaw at ‘unbelievable’ $40 tub of feta at Loblaws store in Ottawa (Yahoo)

This business owner brought most of her manufacturing home from China — and feels punished for it (CBC)

Cannabis industry wants rules loosened on joint in-store promotions (CBC)

41 employees impacted as Metro to close its Ottawa distribution centre (CTV)

Healthy Planet opening new store in west-end Toronto (Grocery Business)

Georgia Main Food Group opens first Asian grocery store Meiga Supermarket: Shop Walk (Grocery Business)

Stong’s Market opens third location in B.C., in Squamish (Grocery Business)

First-Ever Health-Focused ‘KaleMart24’ Opens in Montreal with Plans for Major North American Store Expansion [Interview/Photos]

By
Mario Toneguzzi
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KaleMart24 Montreal Berri-UQAM Metro Station (Image: KaleMart24)

KaleMart24, the “Whole Foods Market” of convenience stores, has opened its first store in Montreal at the Berri-UQAM Metro Station. 

KaleMart24 is being spearheaded by Oussama (Sam) Saoudi, who is the founder and CEO of Montreal-based Toro Beverages, which revolutionized the energy drink industry by introducing Canada’s first matcha-powered energy drink.

“Our aim is to seamlessly integrate convenience and sustainability, empowering customers to make informed choices that support their well-being and the health of our planet,” said Saoudi.

KaleMart24 Montreal Berri-UQAM Metro Station (Image: KaleMart24)
KaleMart24 Montreal Berri-UQAM Metro Station (Image: KaleMart24)

He said a second location is opening soon at the Jarry Metro Station and a third one opening under construction is expected to open in June near the Bell Centre in downtown Montreal.

“These three are confirmed but we have some more coming but they’re not confirmed yet,” added Saoudi. 

He said the milestone opening signals KaleMart24’s unwavering commitment to providing urban communities with easy access to wholesome, nourishing food options that prioritize both personal wellness and environmental sustainability.

With a carefully curated selection of products, organic snacks, and eco-friendly household essentials, this pioneering store concept offers a holistic shopping experience tailored to the discerning tastes of health-conscious individuals on the go, added Saoudi.

“The main reason we started in Montreal is because we’re here. I’m from Montreal. I live here. So I decided to start with this market. That’s one of the reasons. But the other reason it’s a very good market to test out a new concept because it’s kind of a hard market. So if you make it in Quebec, in my opinion, with this type of concept you can make it anywhere outside of Montreal,” he said. 

The brand worked with renowned architecture and design firm, Benoy, to complete the project.

KaleMart24 Montreal Berri-UQAM Metro Station (Image: KaleMart24)
KaleMart24 Montreal Berri-UQAM Metro Station (Image: KaleMart24)

Technology is at the forefront of the KaleMart24 concept: Mobile-savvy customers will benefit from a loyalty program, as well as contactless and mobile payments options for easy shopping 24/7.

Saoudi said KaleMart24’s store at Berri-UQAM embodies the company’s core values of quality, integrity, and environmental stewardship. From biodegradable packaging to energy-efficient operations, every aspect of the store is thoughtfully crafted to minimize ecological impact and promote a more sustainable way of living.

“We look for locations with high traffic. We’ve started with locations with high foot traffic but eventually we’ll be looking for locations with high car traffic close to gas stations, strip malls when it’s not downtown,” he said.

“In Montreal, we already have some other prospects with franchisees. I would say we’re targeting in Montreal to grow to about 10 to 15 in the main Montreal area.

“For Ontario, we already have a franchisee. Our model is we started with three corporate stores but now we’re only franchise moving forward. We already have a franchisee that signed up for Ottawa. We’re just finalizing the location and once that’s done that will be our first location outside of Montreal and Quebec. But we also have some prospects for Toronto.

“The next step, once our first stores are open here, we’ll be opening some more stores in Montreal and at the same time opening in Ontario, mainly Toronto.”

KaleMart24 Montreal Berri-UQAM Metro Station (Image: KaleMart24)

Think Retail is working with KaleMart to grow the brand.

Tony Flanz, CEO of Montreal-based Think Retail, said the first location is 1,200 square feet in Berri-UQAM, the largest station in the city’s Metro system and a busy commuter hub.  

Tony Flanz

A second 600-square-foot KaleMart24, will open later this month in Jarry Metro in the borough of Villeray–Saint-Michel–Parc-Extension, followed by a 2,055-square-foot store at 1055 de la Montagne (adjacent the Bell Centre) in late April. 

“Positioned “where convenience meets wellness in perfect harmony,” KaleMart24 is ready to revolutionize the convenience store concept with a fresh product mix designed to appeal to a new generation of busy health-conscious consumers seeking better-for-you and sustainable products,” said Flanz.

“KaleMart24 is embarking on an aggressive expansion plan, with a focus on high-traffic street-front locations of 1,000 to 1,500 square feet. Next up, the plan is to open in Toronto by the end of the year, with the ultimate plan of having dozens of stores across Canada, and, eventually, North America,” he said.

Swimco Opens New Stores in Canada, Bounces Back from COVID Hardships [Interview]

By
Mario Toneguzzi
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Swimco Park Royal (Image: Swimco)

After experiencing some tough financial times through COVID which included a bankruptcy, Calgary-based retailer Swimco is back in the retail game and expanding its presence in the Canadian market.

It recently opened its third store in a former Swimco location in Park Royal Shopping Centre in West Vancouver.

Dave Bacon, co-owner and President of Swimco, said the company is continuing to grow its sales and looking at different opportunities.

“Capital expenditures are the challenge. And financing. And capex is everybody’s challenge but when you’re a small business like us now, I joke about being a 46-year-old startup because we’ve got all the experience. We don’t have the credit we used to have. We don’t have the resources we used to have so we have to be a bit more creative and a little more careful. And that’s what we’ve been doing,” said Bacon.

“We managed to more than break even. Our brand is well-known in the markets we’re in so people are finding us as we open up. We’re looking at opportunities in Western Canada certainly.”

Swimco Park Royal (Image: Swimco)

Lori Bacon, who used to run the company, is a co-owner but isn’t involved today in the day-to-day operations of the retailer.

Dave Bacon said the company bought the assets from the receiver in December 2020. 

Initially, Swimco ran its operations online only all of 2021 except for a two-month period where it did a pop-up in Willow Park Village in Calgary. 

“We did so well there and we were so happy with the results and our customers were super happy having us in that location that we decided we would pursue a full-time location,” he said. “It obviously took a while before the opportunity came up. In 2022, we opened in WestHills (Towne Centre) for the summer so we had a store open during the summer as the space in Willow Park Village wasn’t available until the fall. We moved in full-time to Willow Park Village in the fall of 2022.

“We also opened up in South Edmonton Common that fall. We were in a temporary location in South Edmonton Common and we just recently relocated to a permanent spot in that same centre. We quite like South Edmonton Common. They’re great people to work with. It’s kind of a different centre for us. We’ve been in the big malls for so many years but we’re finding we’ve got a lot more control in that outdoor mall type like South Edmonton Common, WestHills, Willow Park Village. You can control your overhead too, not having to be open 9 until 9 for one and certainly the rent is a lot more approachable in those outdoor centres than in the big malls.

“We got a call a year ago from the people in Park Royal in Vancouver. Our former space which had been renovated before the bankruptcy had come vacant and they made a call asking us if we’d like to go back into our space. Of course, we said yes. It was a no brainer to be able to open up a store in a beautiful space perfectly built out to our specs and with no expenses. It just cost us $10,000 to put a sign up . . . In terms of capital expenditures it was an easy store to walk into. It’s as strong a market in Vancouver as any of those malls and we really like that North Shore area and the customers are really happy.”

Swimco South Edmonton Common (Image: Swimco)
Swimco South Edmonton Common (Image: Swimco)
Swimco South Edmonton Common (Image: Swimco)

Swimco closed its retail store locations after 45 years in business. In 2020, the national swimwear company had filed a Notice of Intention, under creditor’s protection, to restructure its operations as it responded to the devastating impact of the COVID-19 pandemic.

But on October 13, 2020, a Certificate of Assignment into Bankruptcy was filed to the Office of the Superintendent of Bankruptcy Canada by Deloitte Restructuring Inc., which was the licensed insolvency trustee in the matter.

Swimco Willow Park Village (Image: Swimco)
Swimco Willow Park Village (Image: Swimco)
Swimco Willow Park Village (Image: Swimco)
Swimco Willow Park Village (Image: Swimco)

The retailer opened its first store in Calgary in 1983 but Swimco actually had its roots as a home-based, mail-order business started by Lori Bacon’s mother Corinne Forseth a few years before the retailer opened its first location.

“We’re looking to be a smaller company. We’re at 20 (stores) and we envision staying there,” said Lori Bacon in an interview with Retail Insider during the summer of 2020. At that time, she confirmed that the company had about $6.5 million in unsecured claims and that included about $1.6 million in landlord rent.

Swimco had reduced its head office by about half. The company had 45 staff in its corporate head office but that was reduced to about 20. Retail staff was about 200 but fell to about 120 during that summer.

Changes in Toronto’s Yorkville with Pusateri’s and Flo’s Diner Closing [Podcast]

By
Retail Insider
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Flo's Diner.

Craig and Lee discuss the recent announcement of closures of two long-standing establishments in Yorkville, Toronto – Pusatiri’s grocery and Flo’s Diner. Pusatiri’s, known for its upscale grocery offerings, is closing due to a strategic decision by the owners, with plans for the space potentially converting into a restaurant. The closure of Flo’s Diner, a beloved local eatery, follows a landlord dispute, leaving its future uncertain. These closures signal significant shifts in the neighborhood, emphasizing the changing dynamics of retail and community spaces in Yorkville.

The podcast delves into the broader transformation of the Yorkville area, which includes not only retail changes but also significant luxury residential developments. Craig highlights the influx of super-wealthy residents through new high-end condominium projects, suggesting a continued evolution towards an even more upscale neighborhood. This shift is anticipated to further influence the types of retail and dining establishments that will thrive in Yorkville, potentially attracting more luxury brands and high-end restaurants to cater to the affluent demographic.

Finally, Craig and Lee reflect on the mixed reactions from the Yorkville community, ranging from disappointment over the closures to excitement about the neighborhood’s future. They discuss the potential for new opportunities and spaces that could emerge from these changes, emphasizing the importance of maintaining a vibrant, diverse community amidst the luxury developments. The conversation underscores the dynamic nature of urban neighborhoods and the continuous cycle of change, highlighting Yorkville as a case study in balancing growth with community needs.

Changes in Toronto’s Yorkville with Pusateri’s and Flo’s Diner Closing [Podcast]

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Pinterest Showcases Enhanced Performance Capabilities to Power Retail Sales 

By
Retail Insider
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Pinterest is showcasing its newest and enhanced performance capabilities benefitting retailers. The platform has been expanding its functionality to make shopping an integrated part of the tailored customer experience. And get this: early results showed that the enhanced suite of lower funnel solutions drove a +90% increase in traffic1 and 28% more conversions2.

“It’s a new era of performance at Pinterest,” said Kristie Painting, Managing Director for Canada, Enterprise Sales at Pinterest. “For Canadian retailers, our expanded suite of performance products presents a remarkable opportunity to drive conversions in the lower funnel. Today, Pinterest’s audience is bigger than ever, and they come with active shopping intent; in the past year we’ve seen clicks and saves up 50% for our buyable content formats3.” 

Now ads are more relevant, thanks to improvements in how Pinterest uses intent signals. AI is powering ad delivery through the full funnel, putting the right content in front of users with the right context. For retailers, that means that searches, as specific as “galactic metallic vibes” to more exploratory like “living room ideas,” can lead to a purchase. 

“It’s easier than ever for retailers to reach shoppers on Pinterest who are primed to act,” said Martin Svensson, Director, Retail Sales Management at Pinterest Canada. “From mobile deep links and direct links to improved shopping ads, retailers can reach their audience in the right context, with the right ad to move their business forward.” 

Many marketers are bracing themselves for the upcoming loss of third-party cookies, they won’t have the same ability to optimize and target as they do now. As the digital landscape evolves, Pinterest is providing tools to address the challenge of signal loss for ad partners. Pinterest API for Conversions is a secure and reliable way for brands to send their conversions directly to Pinterest to help maximize conversion visibility. 

As Canadian retailers continue to navigate the changing ad landscape, join the brands that are seeing better results with Pinterest’s new suite of performance products. Explore solutions. 

Youtube video

(1) Pinterest Internal Data, Global, June 2023 to September 2023, based on beta results comparing 289 advertisers with consideration campaigns before and after enabling with direct links for consideration

(2) Pinterest internal analysis, advertisers adopting the API for Conversions compared to using only the Pinterest tag. Global, Sep 2022.

(3) Pinterest Internal Data, Global, Q2 2023 vs. Q2 2022.

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Note: This article is partner content. For more information, contact Craig at craig@retail-insider.com

Couche-Tard/Circle K Adding Over 1,500 DAVIDsTEA In-Store Locations, Begins Partnership with Second Cup [Interview]

By
Mario Toneguzzi
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Second Cup Cafe at Couche-Tard / Circle K (Image: Foodtastic)

Two popular Canadian beverage chains, Second Cup and DAVIDsTEA, are expanding big time into Couche-Tard/Circle K locations.

Recently, in a LinkedIn post, Peter Mammas, President and CEO of Foodtastic which operates the Second Cup brand, said the brand has opened its first Second Cup inside one of the convenience stores.

“We’re proud to announce the long-awaited launch of Couche-Tard’s first Second Cup,” shared the official Foodtastic LinkedIn account. “This iconic collaboration between two giants of the Quebec and Canadian industry opens up exciting new perspectives in our fields.

“Congratulations to the people on our Foodtastic team, as well as at Couche-Tard, whose tireless efforts over the past few months have been able to bring this project to life!”

Retail Insider reached out to Foodtastic last week to discuss the expansion, but further comment was not provided.

Image: Foodtastic

And on Tuesday, DAVIDsTEA announced it will be offering a premium Tea-2-Go in-store experience at over 1,500 convenience stores across Canada.

“We are proud to become the exclusive supplier of high-quality teas across Canada to an industry leader like Couche-Tard,” said Sarah Segal, Chief Executive Officer and Chief Brand Officer, DAVIDsTEA, in a statement. “This landmark agreement enables DAVIDsTEA to introduce a whole new segment of customers to our wide variety of flavourful teas. It also represents a key step in our omnichannel growth strategy to expand our footprint while driving profitable growth.”

The company said its curated assortment of eight best-selling flavours, available in a convenient sachet format, will provide consumers on the move with an elevated tea-drinking moment, while complementing Couche-Tard’s extensive offering of beverages and snacks.

Image: couche-tard.com

Alimentation Couche-Tard, operating under the Couche-Tard and Circle K banners, has a coast-to-coast presence in Canada and is a global leader in convenience and mobility, operating in 29 countries and territories, with more than 16,700 stores, of which almost 13,100 offer road transportation fuel.

“The introduction of quality products from the renowned DAVIDsTEA brand in our stores across Canada will enhance our customers’ drinking experience and allow us to further develop our hot beverage category. We are very pleased with this new partnership,” added Daniel Lapalme, Foodservice Director, Eastern Canada Division, Alimentation Couche-Tard, in a statement.

DAVIDsTEA said the tea collection selected for Couche-Tard customers includes organic flavours such as Cream of Earl Grey, Silk Dragon Jasmine, David’s Breakfast Blend, Cold 911 and Cinnamon Rooibos Chai; herbal, caffeine-free varieties like Forever Nuts and Just Peachy; and popular coffee replacement black tea, Vanilla Cappuccino. In addition, DAVIDsTEA will establish a full tea bar concept at seven Couche-Tard stores to offer a wide variety of hot and iced teas.

Rendering of the full tea bar that will be available in 7 locations only. (Image: DAVIDsTEA)

DAVIDsTEA offers a specialty branded selection of high-quality proprietary loose-leaf teas, pre-packaged teas, tea sachets, tea-related accessories and gifts through its e-commerce platform at www.davidstea.com and the Amazon Marketplace, its wholesale customers which include over 4,000 grocery stores and pharmacies in Canada and over 330 grocery stores in the United States, as well as 18 company-owned stores across Canada. 

Couche-Tard is a global leader in convenience and mobility, operating in 29 countries and territories, with more than 16,700 stores, of which almost 13,100 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States and it is a leader in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics, as well as in Ireland. 

Some Foods at Grocery Stores in Canada are Cheaper Now than Before the Pandemic [Op-Ed]

By
Sylvain Charlebois
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Sobeys in Saint John (Image: Field Agent Canada)

Four years ago, we were all in lockdown. It was total confusion. With empty shelves, many wondered if Canada was facing a food shortage and if prices would be affected, of course. With varying health restrictions from region to region worldwide, supply chains were heavily strained.

And almost two years later, it was a catastrophe in Ukraine. Russia’s illegal invasion pushed the prices of most agri-food products to record levels. For example, the price of wheat reached $12 per bushel for the first time in history. Indeed, our food inflation rate reached 11% over a year ago, much to the dismay of consumers here and elsewhere.

Some believe that food prices have doubled since 2020. Well, if you believe Statistics Canada’s data, prices have increased by 21% since March 2020, across all categories. It’s not double, but 21% is a lot. Due to price volatility, many people feel like the increase is closer to 100%. The product that has increased the most is olive oil at 83%, followed by cantaloupes at 76%. These two categories have been affected by production issues related to climate change. Cantaloupes were even affected by a major recall a few months ago. Vegetable oil has increased by 72%, canola oil by 51%, margarine by 67%, and strawberries by 58%. All products are more expensive than in 2020, but there are exceptions.

Some will be surprised to learn that some products are cheaper than they were in March 2020, four years ago. Yes. First, almonds are 19% cheaper than in 2020. Pork shoulders are 14% cheaper than in March 2020. Pork ribs are also 13% cheaper. Canned tuna is also less expensive, at 14%. Even chicken breasts, according to Statistics Canada, are 3% cheaper. A year ago, a viral photo of expensive chicken breasts angered everyone, leading to a social media campaign condemning possible grocer abuses. It was panic, or almost.

Metro in Old Toronto (Image: Field Agent Canada)

Products roughly the same price are whole chicken, spinach, canned salmon, the famous banana, pears, and tomatoes.

If all this is hard to believe, it may be because our trust in Statistics Canada is not very high. Perhaps.

Despite this data, it is certainly not what people feel when paying for groceries. While some food categories may have some immunity to inflation, likely, our perceptions are often influenced by price volatility. Let’s look at the standard deviations of prices over the past four years.

Since March 2020, the category with the highest standard deviation is beef. Not surprising. Depending on the cut, the standard deviation varies between 4 and 5. The standard deviation of food prices can tell us how much food prices vary compared to their average. Salmon has a standard deviation of over 4. Chicken breasts and vegetable oils also have high standard deviations compared to the average. As well as margarine, tomatoes, peppers, white rice, and mayonnaise.

Interestingly, meats have increased about as much as plant protein products like hummus, tofu, lentils, and dry beans, but popular perception is that meat counter prices have skyrocketed more than elsewhere in the store. Perceptions often deceive us.

Innovative Fitness Launches Flagship Location on Bloor Street in Toronto, Eyes Expansion and New Wellness Services [Interview]

By
Shelby Hautala
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Innovative Fitness Bloor, Toronto, ON (Image: Nick Lachance)

Innovative Fitness, a personalized wellness and fitness gym in Canada, has recently opened its newest flagship location on Bloor Street in Toronto, has ambitious expansion plans, and is looking to add new services.

Unlike a traditional gym, Innovative Fitness focuses on one-on-one services such as personal training, nutritional coaching, rehabilitation and wellness services, and will keep innovating new services to meet consumer needs – distinguishing Innovative Fitness from other fitness companies in Canada. It is also the largest personalized wellness studio in North America. 

Curtis Christopherson

Innovative Fitness currently has locations in British Columbia and Ontario with a total of 16 locations, including Innovative Fitness Toronto (The Ritz-Carlton), Forest Hill, Riverside and Club Apex at The Maple, The Selby and The Taylor, along with its newest location at 33 Bloor Street in Toronto

“Innovative Fitness has been around for more than 25 years. We are an established brand as we are one of the first personal training businesses in the market in North America, and we have become the leaders in personalized wellness and fitness,” says Curtis Christopherson, the CEO of Innovative Fitness. “Bloor Street was actually signed before Covid and we were getting ready to launch in Spring of 2020, unfortunately we had to navigate close to four years of determining how we were going to launch. It was destined to be our flagship in Canada and we are so excited to have that as our flagship location of the brand.”

Moving forward 

Innovative Fitness Bloor, Toronto, ON (Image: Nick Lachance)
Innovative Fitness Bloor, Toronto, ON (Image: Nick Lachance)

As for expansion plans in Canada, the company is looking to expand by ten locations in Ontario and is exploring potential growth opportunities in British Columbia. The Ontario locations will primarily be surrounding the Greater Toronto Area and in BC, Christopherson says they will be looking at Burnaby and Richmond – locations and timeline for both provinces are unknown as of right now. 

“We believe that Ontario is a significant market for us and is our primary focus, we believe that there is a unique opportunity to continue to grow our brand. We believe that Ontario and British Columbia offer significant opportunities for future franchise growth there. We have a couple of areas to explore, such as Burnaby and Richmond, but other than those two regions, we have really captured most of the markets we are looking for.” 

The Lundrigan brothers, David and Ryan, are the driving force behind opening new locations and establishing the brand in the Toronto market. They have an extensive background in the health and wellness industry and have made the Bloor St location a reality.

Innovative Fitness Bloor, Toronto, ON (Image: Nick Lachance)

As for other provinces in Canada, Christopherson says they will not be expanding further in Canada right now as its main focus is directed towards Ontario, British Columbia, and into the United States.

Christopherson says the brand plans to enter the United States by 2025 with focus on the West Coast. Locations Christopherson is interested in include the State of Washington with key interest in Seattle and Bellevue; California with key interest towards San Diego, and the East Coast with interest in Chicago, Boston, and Miami.  

Expanding Services 

Innovative Fitness Bloor, Toronto, ON (Image: Nick Lachance)

In addition to its expansion plans, Innovative Fitness continues to innovate its service offerings. Christopherson says the brand has introduced assessment tools, video screening, and body composition testing. 

The brand has also recently launched a digital recommendation tool where its professional training coaches can recommend products that “they love and trust, helping people reach their goals. So whether it is supplementation, equipment, or nutritional offerings, they can now recommend through a digital platform. They can offer products to the client without having to go to a store or buy online, so it is a unique innovation that we just launched.” 

As for future services, Christopherson says the brand is looking into hot and cold therapy, including saunas and cold plunges. The brand is also looking at external partnerships to include full body MRIs as well as blood profiling assessments that are going to evaluate both hormone and immune health.

“We are just going through the process right now. I mean, our big focus is personalization and optimization as that is a primary focus of our business going forward. And so, we are planning on launching some of these new services by Q4 of this year.” 

Innovative Fitness Bloor, Toronto, ON (Image: Nick Lachance)

All Innovative Fitness locations Christopherson says are mostly the same as some locations offer other wellness services such as osteopathy and massages, but “for the most part, it is personalized one-on-one training as well as nutritional coaching.” 

Christopherson says he is in the process right now of getting all its services approved by insurance company health spending accounts so more people can access Innovative Fitness. 

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