Sylvain Charlebois, Senior Director, Agri-Foods Analytics Lab, Dalhousie University, discusses what’s happening in the grocery store industry these days.
Charlebois talks about the industry’s relationship with the Competition Bureau, its profitability, supply chain issues, labour shortages, rising food prices, and consumer behaviour.
The Video Interview Series by Retail Insider is available on YouTube.
Connect with Mario Toneguzzi, a veteran of the media industry for more than 40 years and named in 2021 a Top Ten Business Journalist in the world and the only Canadian – to learn how you can tell your story, share your message and amplify it to a wide audience. He is Senior News Editor with Retail Insider and owner of Mario Toneguzzi Communications Inc. and can be reached at mdtoneguzzi@gmail.com.
Also check out the other series offered by Retail Insider, including The Weekly podcast and The Interview Series, which are both available on Apple Podcasts, Stitcher, TuneIn, Google Podcasts, or through our dedicated RSS feed for Simplecast and other podcast players.
The past two years or so of the pandemic have highlighted the growing importance of companies’ supply chain networks and some of the key challenges they face as an industry.
A report by EY Canada says organizations that failed to plan agilely have faltered over the last two years due to supply chain breakdowns and logistical nightmares.
The report, co-authored by KB Brinkley, EY Canada Integrated Business Planning Leader, and Georgianna Ma, EY Canada Integrated Business Planning Leader, says IBP can bring finance, operations and supply chain closer, but requires organizations to dismantle functional silos to fully unleash it.
In an interview, Ma said the change in consumer behaviour has had a drastic impact on the operations of many companies.
“If you look across the supply chain, value chain, from beginning to end, there’s definitely disruption across the board,” she said. “More from an input perspective. We’re seeing a bunch of raw materials being short, there’s a lot of pressures on that front, the costs are rising, supply shortages, there’s unexpected demand across the board.”
Abrupt inflation, geopolitical tension, soaring energy costs. Empty shelves, delayed deliveries and supply chain shortages. The pandemic may be receding, but businesses continue to face a barrage of challenges and an urgent need to plan quickly across scenarios, said the EY report.
“From supply chain breakdowns to labour woes and logistical nightmares: organizations that failed to plan quickly or agilely enough have faltered over the last two years. As planning fell short, companies in all sectors lost out on key market opportunities, earnings and growth. As a result, CEOs around the world are now rethinking operations to tackle a post-pandemic market that’s nothing like the one we knew before. Labour, energy and raw material costs are all up. Freight rates have jumped more than 400 per cent since 2019. Nearly 90 per cent of global CEOs have seen a significant increase in input prices. And more than half say geopolitical challenges are forcing adjustments to strategic investments,” according to the report.
Image: EY
“Among those CEOs, 79 per cent say they have, or will, change their operations and supply chains to cope. IBP can play a pivotal part in that transformation. By aligning key business functions through a unified strategy, it can create a fundamentally sustainable, transparent and collaborative planning approach. This generates an integrated business plan that serves as a powerful source of truth the entire organization can pursue together. It connects functions and accelerates speed to impact by empowering leaders to react more quickly in light of external challenges, shocks and disruptions.
“In today’s reality, integrating finance to supply chain planning must become the central focus of running the business. Each step in the IBP process — including product review, demand review, supply review, reconciliation and management business review — brings unique insight that can then be integrated into stronger financial planning. Linking finance and supply chain planning in this way helps companies achieve financial forecasts two to five times more quickly. It also significantly decreases the need for data consolidation. We’ve seen these results play out in the market time and time again.”
Ma said organizations have a challenge of predicting demand and matching the supply to enable that. Many times companies don’t have a good grasp of how to marry the two together. And when companies do planning, many are actually doing them in silos.
“Rarely do you see organizations all talk in the same way and when they do the planning look at it in an integrated manner,” she said, adding where she’s seeing success is with companies that marry them together.
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.
Petland Canada is looking for retail space across Western Canada to expand the brand to different markets with a focus on British Columbia.
The retailer has 42 corporate stores plus five franchised locations in smaller markets. It is opening its 43rd store next summer in the Sevenoaks Shopping Centre in Abbotsford, BC.
Grant Kosowan
Grant Kosowan, President of Orange Group Commercial Real Estate Inc. which is overseeing real estate for Petland, said the company is looking for locations of about 10,000 square feet in power centres, grocery-anchored centres and high profile streetfronts.
Petland Canada Inc., is a privately held Canadian Corporation founded in 1975.
“BC is kind of the primary focus of growth. We’ve got pretty good coverage in Alberta and Saskatchewan and Manitoba but BC’s been a bit more of a challenging market for a variety of reasons. Looking for infill markets in the Prairies and solid growth in BC because we’re good for a couple of stores a year at least and want to keep pounding away,” said Kosowan.
Petland in Fort Saskatchewan (Image: Petland Canada)Image: Petland Canada
Recently, Petland opened new locations in the Seton community in Calgary as well as Polo Park in Winnipeg.
“It’s not inconceivable that we could hit 60-70 locations in Western Canada. I certainly think there’s another 10-15 in BC that we could wind up doing and maybe a little bit infill in the Prairies. But once we start getting to low to mid 50s I think at some point in time we’ll start working our way towards Ontario that’s for sure,” he said.
The pet industry has seen significant growth in the past few years as more people have taken in pets and they’ve spent more money and time on their pets.
“These guys have been long-term players in the industry. They’ve been around for a long time,” said Kosowan.
Petland Polo Park in Winnipeg (Image: Petland Canada)Petland Polo Park in Winnipeg (Image: Petland Canada)
“Our focus is on corporate stores of 10,000 square feet in major markets. We’re a good player in that field. Not really interested in going to markets that are less than 30,000, 40,000 people.”
According to the Canadian government, the pet population in Canada has increased by a compound annual growth rate (CAGR) of 0.4 per cent from 27.5 million pets in 2016 to 27.9 million pets in 2020.
“Retail sales of pet food in Canada has increased 5.8 per cent in CAGR from Can$3.4 billion in 2016 to Can$4.2 billion in 2020 and is expected to increase in CAGR by a further 4.9 per cent attaining Can$5.3 billion by 2025,” said the government.
Image: Petland Canada
The pet population is expected to grow from 28.1 million pets in 2021 to 28.5 million pets in 2025.
According to a report by market intelligence and advisory firm Mordor Intelligence, the Canadian pet food market is projected to register a CAGR of 6.8 per cent during the forecast period ( 2022-2027).
“The COVID-19 pandemic affected the manufacturing and supply chain of the market due to the lockdowns and restrictions imposed. The worldwide restrictions on the movement of goods across countries and locally resulted in the manufacturers putting a halt to their production due to the lack of raw materials. On the other side, the demand for pet food has increased after the relaxation in restrictions as more people rely on pets during the lockdown period,” it said.
“The pet food market in Canada is a booming industry, with hundreds of pet stores across the country serving pet cats and dogs living in Canadian households. Canada has more than 2000 pet stores, with a major number in Ontario. Consumers have become progressively more concerned about the diets of their pets and spend on buying protein-rich, nutritious, and customized pet foods for their pets. Furthermore, they highly prefer natural and organic products. The factor that drives the market is pet refinement/humanization, which is influencing the purchase decisions, increasing the adoption of pets by elderly people, and increasing the trend of nuclear families.”
Aubainerie, a Quebec family owned fashion retailer, has opened up a MEGA POP concept store spanning 50,000 square feet in Montreal. As the company has recently made a few changes to its product quality and is looking to expand its presence in Montreal, Aubainerie wanted to make a big statement with size to introduce more people to the brand.
With a more challenging economy with inflation and increasing interest rates, Aubainerie has been working hard in the last two years to provide families with affordable clothing.
Ginette Harnois
“Our focus has been and will continue to be about really understanding the needs of families and that has been our core. It is about moving beyond fast fashion and into smart fashion – and to high end quality solutions at a price that is accessible to families. So for the past two years we have been working hard on improving the quality and the designs of our products as we saw the possibility of a more challenging economy,” says Ginette Harnois who is the Vice President, Customer Experience, and Spokesperson of Aubainerie.
The MEGA POP, located at CF Galeries d’Anjou, opened this month and will stay open for several months. The space is 50,000 square feet and provides a variety of affordable clothing options, such as everyday sportswear, and has been gradually expanding to include winter wear, athletic wear, lingerie, and swimwear. Customers can find products for women, men, and children in different price ranges.
Aubainerie has changed its products by increasing the quality of clothes, using more innovative fabrics. It has also taken a closer look at the design of products, fit, and detail.
“Offering the best quality at an accessible price is what makes us different from our competitors. Families are often introduced to us when shopping for their newborns and come to realize that we also sell to adults. Through every single product we offer, the balance between the quality and the price is what we are able to give to families.”
The company originally started in 1994 and has always been focused on selling well-priced fashions. Today Aubainerie has 54 stores. Four are in Montreal, one is in Ontario, one is in the Maritimes, and the rest are outside of Montreal in Quebec. As the company wants to increase its presence in Montreal, opening the MEGA POP store was a great opportunity to introduce the brand to the customers in the city.
Aubainerie at St Bruno (Image: Aubainerie)
“We are working and looking for more opportunities. Right now, our focus is to expand more in urban areas in Quebec, and then we will see what the future holds. We really believe in offering the best possible quality at accessible price, so we are looking to expand further but time will tell what we will be able to do.”
The store opening event occurred on November 2nd where Aubainerie welcomed its first 200 customers with gift cards, on the 5th it welcomed families with an event, and on the 12th it is having surprises and in-store events that are more geared towards women.
“Our focus remains on families and understanding what their needs are. We offer something in response to the present economic needs that today’s families are facing. The MEGA POP is a one time event but it is the first of more projects to come. There will be other opportunities to increase our presence in Montreal so customers should be looking forward to seeing what we will be offering them.”
No Name Brand Signage at Loblaws Maple Leaf Gardens (Image: Dustin Fuhs)
“Measuring greed can be one of the most challenging things to do in the food business. The best way to avoid abusive behaviors is to have proper and compelling oversight, which doesn’t exist in Canada. And Canadians know it.”
As food prices rise, many are quick to blame grocers for profiteering and taking advantage of consumers. The notion of “greedflation” has emerged as one of the most talked about issues in the last month. Food inflation in Canada is at a 41-year high, at 10.3%, and chances are that consumers won’t get a break anytime soon.
Finding out whether grocers have been inflating prices to benefit their bottom line is not that simple. If greed exists in our grocery sector, how do we measure it? Well, our lab tried.
In a recent report, we used publicly available data to look at the gross profit (revenue minus cost of revenue) for each of the three big Canadian grocers: Empire/Sobeys, Metro, and Loblaws. We then calculated their respective “best” and “average” performances for the past five years. Next, we compared each company’s two most recent quarters of 2022 against their best and average years’ performances and quantified the excess (deficit).
Empire/Sobeys’ performance in 2022 was over-performing relative to their best years in Q2 by $7 million, while their Q3 numbers had them under-performing by $44 million. For the most recent two quarters of 2022, Empire/Sobeys had a net deficit of $37 million relative to their best years’ performances. Metro’s 2022 performance, on the other hand, relative to its best years, over-performed in Q1 by $3 million and under-performed by $14 million in Q2. For the most recent two quarters of 2022, Metro Inc. had a net deficit of $11 million relative to their best years’ performances. Nothing overly scandalous.
Loblaws, though, is an exception. In Q1 of 2022, Loblaws outperformed their best years’ performances equivalent to $68 million; in Q2 2022, they outperformed their best years’ performances by $112 million. So Loblaws’ gross profit thus far in 2022 outperforms its best performances of the past five years by $180 million, or about one million dollars a day to date.
Does this mean Loblaws is greedy? Not quite. Loblaws’ reported revenues combine food, health, beauty, apparel, and other general merchandise into one category. Grocers are incredibly diversified, and sell cosmetics, drugs, and clothing. Margins are different for these verticals, and of course the ethics and social responsibilities of selling bananas or eggs are quite different than when selling lipstick. Loblaws’ 2022 Q2 News Release attributes its increase in sales to an increase in same-store sales for food retail (0.9%) and drug retail (5.6%). Readers of Loblaws’ financial statements cannot definitively say whether an increase in non-food sales has driven the bulk of the “excess” gross profit, which is why accusations of profiteering are pointless.
But this doesn’t mean changes are unnecessary. Perhaps, companies like Loblaws should be required to report their food operations separately from their non-food operations. Unlike selling t-shirts or perfume, selling food, a necessity of life, is inherently ethical and the stakes are very different.
We find it interesting that Loblaws can justify food and non-food (healthcare, beauty, apparel, and other general merchandise) as a combined operating segment which satisfies both IFRS 8.12(a) the nature of the product and services, and IFRS 8.12(b) the nature of the production process. It is unclear how food retail and drug retail are similar in nature, sales, or production. Canadians deserve to be informed of the details, especially when food inflation is in the double-digits. This is worth investigating.
Still, the blame game continues, and Canadians want a scapegoat. This points to another change required, and it has to do with the Competition Bureau. The Bureau has constantly failed the Canadian public by not providing forceful support to lawmakers in Canada, when it simply endorses acquisitions and oversees investigations with little or no vigor. The bread price scandal is a good example. After seven years, the investigation is still ongoing. We’ve also seen investigations into meat and salmon, neither of which have provided definitive results.
Grocers are easily blamed, simply because we know them. The more obscure part of our food supply chain has been spared by “greedflation” accusations for months, even if several multinationals like Unilever, Kraft-Heinz and Kellogg’s have posted significant profits of late. The constant food inflation politicization has led to more irrationality and confusion within the population. Farming also contributes to higher prices at retail but few are willing to point to farmgate economics as a contributing factor. The Bureau should look at the entire food system, from both ends.
The anger directed towards grocers is truly unique to Canada. Our nation may be experiencing a consumer trust crisis which is spilling over into our relationship with grocers due to the Competition Bureau’s baggage, that is, the awkward unfinished business it has with many files. Canadian consumers feel grossly unprotected.
In the U.S., things are different. Their inherent hatred for monopolies and oligopolies has pushed lawmakers and bureaucrats to act swiftly and forcefully. Kroger is currently trying to acquire Albertsons for almost $25 billion, which would make Kroger the second largest grocer in America. The deal is hitting major regulatory roadblocks. Kroger could be asked to let go of almost 400 stores, creating a rival to the new grocer. The initiative led by lawmakers has been relentless, and yes, politicized. This would never happen in Canada. When Provigo was acquired by Loblaws in 1998, or when Metro acquired A&P in 2005, or even Sobeys buying Safeway out west, barely anyone raised an eyebrow during the proceedings.
In essence, with more financial data to clarify food sales and a more authoritative watchdog in the Bureau, industry and grocers may have a shot at getting consumers’ trust back.
— Sylvain Charlebois is professor in Food Distribution and Policy and director of the Agri-Food Analytics Lab at Dalhousie University and Samantha Taylor is professor in Accounting and a Research Associate at the Agri-Food Analytics Lab at Dalhousie University.
The Time Out Market is heading to Vancouver with an opening set for late 2024 at Oakridge Park, a massive project that involves the redevelopment of the former Oakridge Centre retail complex.
The Time Out food and cultural market, which officials say will bring “the best of the city under one roof,” will be located across two levels in the shopping centre and span 69,000 square feet. Time Out Market Vancouver will showcase a curated collection of the city’s best culinary and cultural experiences. Visitors will get to taste food from top local chefs and renowned restaurateurs, sip cocktails from award-winning mixologists and enjoy music and entertainment from rising talents.
The first Time Out Market opened in 2014 in Lisbon in a historic market hall, quickly turning into one of the most popular destinations in the city, with over four million visitors in 2019. Following their success in Lisbon, new locations have since opened in Miami, New York, Boston, Montreal, Chicago, and Dubai. More Time Out Market locations are under development around the world in cities such as Porto, Osaka, Cape Town and more.
Oakridge Park will be the second Time Out Market in Canada, following a location that opened at the Montreal Eaton Centre in downtown Montreal in November of 2019.
Image: Henriquez Partners/QuadReal Time Out Market Chicago (Image: Jrivas)
Andy Clydesdale
“For Oakridge Park, we’ve always envisioned seamlessly integrating a world-class culinary experience with a carefully curated collection of brands and services from around the globe,” said Andy Clydesdale, Executive Vice President, Retail, QuadReal Property Group.
“Representing the future of culinary and cultural experiences, Time Out Market literally brings the best of the best to our collective kitchen table. The team at Time Out Market also very much appreciates and embraces our architecture and design vision for the holistic Oakridge Park project and endeavours to work with our architect and design teams to create something that the world has not seen nor experienced.”
Clydesdale said Time Out Market brings together award-winning chefs, renowned restauranteurs, up-and-coming culinary talent and much-loved local gems foodies can’t get enough of.
“In short, Time Out Vancouver at Oakridge Park will be a culinary and cultural experience – a recipe we think will be impossible to resist. Of course, the one million square foot shopping centre, when completed, is already expected to be one of the busiest and most productive in Canada,” he said.
“With over 1,400 seats (including the event space), there will be lots of indoor and al fresco dining options for guests to choose from. Of course, the design for Oakridge Park will feature a number of innovations while staying true to what makes Time Out Market such an exciting destination.”
Ian Gillespie, Founder & CEO of Westbank said Oakridge Park, which has been decades in the making, is becoming the new town centre for Vancouver.
“We have always had great ambitions for the project to become the living room for our community, one of the most diverse cities in the world. For the Food Hall, which will be the heart of the project, we took inspiration from the World Fair, envisioning a community gathering place that celebrates Vancouver’s multiculturalism through food,” he said.
“Time Out Market has created a concept that shares these values, centred around bringing together the best culinary and cultural experiences in their cities. Their values align perfectly with our vision for Oakridge Park and we look forward to collaborating together to make Time Out Market Vancouver into a destination, for the community and the world.”
Future park at Oakridge Park in Vancouver. Image: Henriquez Partners/QuadReal Time Out Market in Dubai (Image: DTCM)
Oakridge Park will be a highly sustainable, mixed-use, transit-oriented cultural hub that includes residential towers, workspace, a nine-acre public park, a civic centre and library, indoor and outdoor performance venues, and a one million square foot shopping centre expected to be one of the busiest and most productive in Canada.
Chris Öhlund
“Oakridge Park is a visionary development with a strong sense of community making it a great location for Time Out Market, at the heart of which is to bring the best of the city together under one roof. We are delighted to partner with QuadReal Property Group and Westbank to bring Time Out Market to the beautiful city of Vancouver,” said Chris Öhlund, CEO of Time Out Group plc.
Officials said the first level will feature a curated mix of 17 live cooking kitchens, three bars, a coffee shop, a stage, art and cultural spaces and an open-air patio. The mezzanine will include a signature cocktail lounge, an event space and a demonstration kitchen. With approximately 1,400 seats (including the event space), guests will have a variety of indoor and al fresco dining options.
Time Out Market is the world’s first editorially curated food and cultural market, bringing a city’s best chefs, restaurateurs and unique cultural experiences together under one roof. From cooking classes with top chefs to installations from local artists and live entertainment, Time Out Market captures and celebrates the best of the city.
Currently, there are seven Time Out Markets globally, featuring over 120 chefs and restaurateurs from James Beard award winners and Michelin-starred chefs to much loved local gems; there are also almost 30 bars plus a variety of cultural spaces.
Oakridge Park is a pivotal project to the Vancouver market according to Retail Insider’s Publisher Craig Patterson, who has authored studies on shopping centres in Canada.
“The redevelopment of Oakridge Centre will result in a new urban node for the Vancouver market, which will be a draw for the region with a flashy design and mix of attractions. The retail component of Oakridge could become one of the most productive in Canada in terms of sales per square foot, given the mix of tenant types that are said to be leasing and in discussions”.
“It appears that a number of luxury brands will be opening stores at Oakridge, which means that a new luxury retail node will be created in the Vancouver market that will compete with downtown. I expect Oakridge will even pull shoppers living in downtown Vancouver with the new retail offerings in a climate-controlled environment. Oakridge is also not nearly as likely to be impacted by some of the social issues seen in downtown Vancouver, including vagrancy and crime”.
Patterson said that retailers not able to find space downtown may end up opening stores at Oakridge instead.
“Downtown Vancouver is constricted by land and by the fact that various landlords own the buildings. QuadReal has an advantage with Oakridge in that it’s able to create desired spaces for brands while offering strong co-tenancies. I’m expecting to see new first-to-Vancouver and first-to-Canada retail announcements for Oakridge that would in the past have been downtown in areas such as Robson Street.”
Michael Ward, CEO and Chief Sustainability Manager, said the planned Scarborough store is part of the retailer’s broader investment in sustainability, affordability, and omnichannel shopping experiences that help to make it more accessible to customers.
“There are other ones scattered around the world. London, Paris, places like this. It’s an exciting way for us to get a lot closer to customers who are more in city environments,” he said.
“A few years ago, even pre-pandemic, we were getting much more interested in how can we get closer to people who live in cities. The whole trend everywhere around the world is more urbanization, smaller space living, people living, working and shopping in tighter areas in urban centres. The idea was how to respond to that.
“We’ve built the company on these really big blue boxes that are more on the outside of the city. We started to look at and experiment with some formats.”
IKEA Business at IKEA Aura – Downtown Toronto (Image: Dustin Fuhs)
IKEA at Scarborough Town Centre (Rendering: Oxford)
Ward said the format includes 2,000 to 3,000 articles that customers can pick up and take away with them. There’s also a food concept.
The company said the new ground floor location in the northeast end of the Scarborough Town Centre will be about 80,000 square feet in a building formerly occupied by a Sears department store. It said the scaled retail concept brings home to life in a new way. It takes the inspiring IKEA experience to the doorstep of urban residents and is proving popular with hundreds of thousands of customers who have made visits to the downtown store since it opened in May 2022.
When asked if more of these concepts will be coming to Canada, Ward said: “Right now we’re looking. We’re focused on the whole country. We’re, of course, interested in continuing urban expansion. So we’re looking. We don’t have any plans set right now for more of these small format stores but we’re always looking at the opportunities.”
IKEA has also released its newly-published 2022 Summary Report which reveals:
National store visits have increased by 123 per cent to 26 million, while IKEA Canada sales increased 1.3 per cent to $2.6 billion in the financial year ending August 31, 2022;
Despite the in-store sales resurgence, online shopping continues to play an important role in the IKEA Canada business. Customers made over 189 million online visits to IKEA.ca and the IKEA app between September 2021 and August 2022. 1.77 million orders were delivered, while 776,510 Click and collect orders were processed;
Food sales increased 160 per cent to $97.5 million, with customers enjoying more than 20 million meatballs, nearly seven million plant balls, more than 1.7 million hot dogs and 1.8 million frozen yogurts.
IKEA Canada 2022 Summary Report
“If you look at the year behind us, it was pretty unique, and lot of things going on, and not just us but I think everyone in the retail business as well that we needed to respond on. You start the year with the pandemic still upon us and sort of easing up as we went through the year – always leading with the health and safety of our coworkers and our customers first. That remained our prime priority,” said Ward.
“But then having to respond to several things. All of the supply chain constraints. The things that drove that in the beginning and then the War in Ukraine. And so on. It really put pressure on the whole supply chain end to end. And also on top of that, rapidly changing customer behaviours and expectations and needs and so on. For us really interesting during the whole pandemic the home became so much more important for everyone because they were doing so much more in it. Working there. Educating their kids.
“So you have all of these things going on at once and so for me the big takeaway is the fact that we could respond in a way where we really made a fantastic contribution to maintaining the health and safety in our operations with our coworkers, helping out people in our communities, but we were also able to grow. We were able to transform the business very quickly to respond to everything having to do with online and omni and the services that are required. We continued to experiment. We’ve also opened Plan and Order Points which are smaller formats in Montreal and Kitchener and we’re going to open another one in the South Shore of Montreal soon.”
IKEA Pick and Order Point Boisbriand (Image: IKEA Canada)
IKEA said the 2022 Summary Report reflects a focus on making circularity and sustainable living solutions more relevant for customers across the IKEA business – from furniture to food. For example, Canadian consumers turned thousands of preloved products into in-store credit this year through the IKEA Sell- Back program, while more than 78,000 spare parts orders were fulfilled, and hundreds of Canadians attended Care and Repair workshops to maintain and extend the life of their IKEA furniture. Meanwhile, Canada has become one of the strongest global markets for the sale of plant balls, the recently launched plant-based alternative to IKEA’s classic meatballs.
“Our impact on the planet starts with the positive impact we make in the lives of our people. The continued growth and expansion we have achieved in Canada would not have been possible without the hard work, determination and skills of the co-workers who are at the heart of the IKEA Canada business. It’s only fitting that we show our gratitude through our actions,” said Ward.
Founded in 1943 in Sweden, IKEA is a leading home furnishing retailer. IKEA Canada is part of Ingka Group which operates 389 IKEA stores in 32 countries, including 15 in Canada.
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.
FYidoctors, a division of FYihealth group, has opened its latest flagship location in Calgary as the brand continues to expand across the country in the competitive eyewear and eyecare market.
Since its inception in 2008, FYidoctors banner has more than 275 locations in Canada, employing 630 doctors and more than 2,300 people.
The company has 47 clinics in Alberta. The newest location in the Mission neighbourhood of Calgary is 3,000 square feet.
“This clinic, its design, and the technology it offers is what we have as a vision for our entire network across Canada at FYidoctors. It exemplifies that FYidoctors has become as a leader in patient care in Canada and we are very proud to provide such a wide range of services and products to our patients,” said Dr. Alan Ulsifer, CEO Chair of FYihealth group.
Image: FYidoctors
The company also has close to 40 medical aesthetic locations. Those locations currently all retain their original names, when FYi acquired them.
Ulsifer said there remain several independent practices in Canada when it comes to the eyecare and eyewear market. Research on the market indicates that more than 1,200 independents would consider joining a bigger group and eventually rolling their business into an entity like FYi.
Alan Ulsifer
“It’s an interesting market. You go into (CF) Market Mall, you go into (CF) Chinook Centre (in Calgary), it’s the same idea. So many different optical players and I guess you can break them into different categories. Obviously, the traditional players that have been here for a long time, the out of country entrants,” he said.
“There is a segment of the market that’s really built on millennials, people that want to look good, they want to have multiple pairs of eyewear, they want to identify with a brand that has a social presence, that’s cool. It’s definitely an emerging segment in the market. It’s a segment that probably we as a brand probably weren’t doing as good of a job for and I think we’ve really stepped up our game in that area in the acquisition of BonLook and offering more of that product offering.”
Image: FYidoctors
Ulsifer said FYi continues to have a vertically-integrated lens manufacturing facility and it recently acquired a frame company Westgroupe. The company so far in 2022 has made 17 acquisitions for optometry and added over 45 locations across all FYihealth group brands.
“We’re in it to win it,” he said. “Also our differentiator has always been the medical eyecare side. Technology, investing in the most recent, latest diagnostic equipment, making that standard practice in all of our locations. We believe that there’s a big segment of the population that really want high quality eyecare and also affordable but also fashion eyewear as well.”
The new Calgary clinic offers personalized eye care using state-of-the-art optometric technology and carries a wide selection of exclusive brands, including Cartier, BonLook, H Halston, Chopard and more. This clinic also has the largest FYidoctors exam room in Canada. The location carries over 45 brands of optical eyewear and offers more than 2,000 frames in clinic.
Image: FYidoctorsImage: FYidoctors
“Unique to this FYidoctors location is a fully customizable digital storefront display wall facing street traffic. New interactive digital media is utilized throughout the clinic space to educate and engage our patients,” said the company.
“Additionally, a unique “FYidoctors scent” is used throughout the clinic to stimulate the olfactory senses of patients while browsing. The clinic’s waiting area is designed to be more relaxed and comfortable, creating an opportunity for our patients to enjoy their time at the clinic. With top-of-the-line materials, the overall clinic purchasing experience is improved with exceptional acoustics, lighting, digital touch points, and interactive messaging.”
The company is headquartered in Calgary and also owns a distribution facility in Delta, BC.
Besides the FYidoctors banner, it also operates banners Visique, Renue, Grimard, Factory Optical, Optiks International and BonLook.
