Advertisement
Advertisement
Home Blog Page 875

Second Lockdown a Threat to Small Businesses in Canada with Innovation Being a Solution

By
Sean Tarry
-
Outer Layer on Queen Street West. Photo: Dustin Fuhs

Impacts resulting from the COVID-19 global pandemic and the subsequent public health protocols and restrictions concerning public gatherings imposed by government have already left an indelible mark on the retail industry and the year 2020.

Current circumstances have caused significant and ongoing disruptions to most businesses across the country, disruptions that are most noticeable in the operations of small ‘Main Street’ retailers that serve local communities and depend on footfall and physical interaction to survive and thrive. And while many small businesses are still working through recovery from the effects of the first wave of the virus and resulting lockdown, the warning of impending announcements from Premiers across the country regarding further restrictions and another possible lockdown present them with some serious challenges to consider over the days and weeks to come.

The effects of the first wave of the virus’ spread were catastrophic for some small businesses. A study conducted by CIBC in May of this year found 54 per cent of business owners in Canada citing that their sales had dropped as an initial implication of the pandemic, while an additional 28 per cent said that they were forced to temporarily close their storefronts and halt operations altogether. Even more dramatic than those numbers, according to Statistics Canada data, businesses with less than 100 employees were more likely to report that their revenues from Q1-2020 were down by 20 per cent or more from Q1-2019 (60 per cent of those with 1 to 4 employees and nearly 56 per cent of those with 5 to 19 employees). Small businesses were also more likely to have laid off more than 80 per cent of their workforce (47 per cent of small businesses with 5 to 19 employees), more likely to have requested credit from financial institutions to cover operating costs (40 per cent of small businesses with 5 to 19 employees) and were more likely to have their rent deferred (22% of businesses with 5 to 19 employees).

Those that survived the initial lockdown have continued to struggle in its wake. And now, nearly nine months on, small businesses across the country are bracing themselves and their operations for another potential shutdown, which could result in potentially debilitating ramifications for Main Street purveyors in areas of restriction across the country. However, in their quest to endure the impacts of the pandemic, there are some critical questions that require answering as well as the need for small businesses to look outside of traditional parameters to truly pivot their thinking and operations and support growth during this difficult time.

E-Commerce Small Business. Photo: Bench Accounting

Is Your Business Online with E-Commerce Capabilities and Functionality?

Making your product available online is no longer a ‘nice-to-have’. In light of store closures related to government restrictions on business, whatever product you specialize in providing for your valued customer has got to be made accessible to them in order to continue selling during any potential imposed lockdown.

CIBC research shows that of the 26 per cent of responding business owners who conduct online operations, 30 per cent of them have seen an increase in sales since impacts of the pandemic began as compared to pre-COVID-19 levels.

Services including those offered by Shopify and others can help your business set up online so you can keep selling.

How are Your Services and Products Being Delivered to Your Customer?

Relying on product to be purchased off shelves is obviously out of the question when operating during a lockdown. Small business owners have got to assess the means and ways by which products and services are delivered to their customers.

Making sure your product is available to purchase online is one thing. But by ensuring that your customer can receive their purchase in as many ways as possible will provide them with the convenience and security that they’re looking for. Does your store have the ability to offer curbside pickup? Are you able to offer customers contactless home delivery?

Reviewing your current methods of product delivery and thinking creatively about the ways in which you can leverage local courier services and other alternate modes of delivery could not only help your businesses withstand the impacts of reintroduced restrictions, it could also differentiate you and your offering in the long-term.

Google Search Results. Photo: Pixabay

Do You Have the Tools Required to Increase Your Google Traffic?

With an online presence and e-commerce capabilities, small businesses should ensure that they are effectively being found by their customers. There’s a lot of clutter online.

Taking advantage of the latest services and offerings from Google’s search engine team and the resources it offers will allow you to stick out from the crowd and be seen by customers who are looking for you.

Optimizing search engine terms and keywords to capitalize on local digital traffic, and ensuring that your online offering is optimized for mobile, will pay dividends for you and your business, opening up your offering to a whole new audience and host of opportunities.

What Are the Modes of Customer Engagement That You Currently Employ?

Again, resting on the laurels of footfall to your store will not suffice during a period of further restrictions on your business. Social media channels, including Instagram, Twitter, Facebook, YouTube and others, offer a great means by which to connect with your customers, both existing and prospective, and to tell them the story of your brand and the product you offer.

These channels can be used to livestream, provide customer testimonials and promote your business in ways you may not have thought of until now.

There is no doubt that these are trying times for many small business owners across the country. However, within these challenges are opportunities for Canadian entrepreneurs to show their resilience and spirit of innovation to continue to succeed and thrive.

For more information concerning the tactics that small business owners can deploy in the days, weeks and months ahead, continue visiting Retail-Insider.com as we unpack the ramifications of the pandemic and restrictions on businesses, offering resources and expert advice to help you navigate through the challenges at hand.

Read More Retail Insider Articles About Small Businesses in Canada During the Pandemic:

Lolë Reopening Downtown Montreal Flagship after Shutting Over 30 Stores [Photos]

By
Mario Toneguzzi
-
Exterior of Lolë concept store on Rue Sainte-Catherine. Photo: Lolë
Exterior of Lolë store on Rue Sainte-Catherine. Photo: Lolë

Montréal-based lifestyle brand Lolë is reopening a store on the iconic Rue Sainte-Catherine in Montreal after the COVID-19 pandemic forced the closure of all of its stores in May.

Lolë Forced to Close 31 Stores Amid COVID-19 Pandemic

The retailer had to close its 31 stores (20 stores in Canada from Vancouver to Halifax, seven stores in the US, four stores in France) due to the financial challenges presented by the coronavirus. The company at that time had about 200 employees.

“The world has gone through a challenging time and so has Lolë,” said Todd Steele, CEO. “Our stores closed across the country and it was a heartbreaking time for our employees and the company overall.

“We’re excited to welcome our customers to a brand new and revamped space that will be safe, stylish and full of the Lolë essentials they’ve missed enjoying in a store environment since lockdown.

“We closed our stores at the outset of the pandemic. We closed them globally and ultimately we went through a formal restructuring process where we exited the leases of those stores, we sold the assets of the company and re-started the company as Lolë Brands which is the new company name. This Sainte-Catherine opening will be essentially the first reopening of any retail we’ve had since the start of the pandemic.”

The company was started about 30 years ago.

“We make functional fashion product. We say that we’re at the intersection of outdoor active and fashion. Our brand for most of its history was female only, kind of women inspired brand. Essentially it was founded on the goal of helping women access the outdoors and lead a more wellness focused lifestyle but doing so in a very fashionable way,” said Steele.

“The company’s got a long history of building great outerwear and active products all designed here in Montreal and a great heritage.”

The Sainte-Catherine store is in the space of Lolë’s former Montreal flagship store near Simons and the Eaton Centre.

“It’s a space that we were in and we were fortunate enough to be able to return and open it up and began to kind of test and understand what the new retail looks like here in Montreal and here in Canada,” said Steele, of the store which is about 2,200 square feet.

It is larger than the typical former Lolë stores. The new store opened this month.

“The key for us is focusing on products. It’s not a huge transformation in our strategy. We believe we make incredible products, best in class products in our segment, and our goal is to continue to focus on that,” said Steele.

“Like a lot of other retailers pre-pandemic, in some cases, we grew too quickly and kind of got too large too fast. And so the idea is to more thoughtfully kind of begin to return to retail. We want to spend some time understanding obviously how we operate a store like this in a time of a pandemic when there’s restrictions here in Montreal and protocols but even assuming we get beyond those challenges we do think the entire process that the world’s gone through over the last several months has transformed how people think about and engage with brick and mortar retail.

“And we want to understand what consumers are going to do and what they want out of their retail experience going forward. We think of this store a little bit like a laboratory for us to begin to do some experimentation on retail for the future.”

The pandemic has changed everything. Comfort is key right now and we have to dress and think differently, said Vanessa Ladovan, VP of Product at Lolë. “People are being more mindful about what they are purchasing, they are looking for long lasting, versatile and functional products rather than quick purchases,” she said. “At Lolë we respect the art of design and are committed to making long-lasting apparel. We have gorgeous and sustainable fabrics that are leading the way in fashion: breathable, comfortable and functional for the new world we live in.”

Lolë Rethinking Model Representation as Part of Brand Rejuvenation

The brand is undergoing a change to make Lolë feel new and fresh in every way: including rethinking the way it showcases models and representation in its ads.

“It’s time for change,” said Glynnis Mapp Jacquard, Head of Marketing at Lolë. “Customers want to be inspired by the brands that they buy: they want to see themselves in the brands they love.

“We want to continue to celebrate the beautiful diversity of Canada and showcase our clothing in an inclusive way. We as a team are committed to that journey and process.”

Steele said the company is hoping it can expand in the future to more stores.

“We’re long-term believers in brick and mortar and physical experience. We think that customers want to engage with product. They want to find ways to become part of a community and find a brand that they believe aligns with their values. There’s something about the physical experience. It’s going to be different likely than it was but we think it’s going to continue to be an important part of retail and of selling product going forward.

“We’re going to take it slowly and one store at a time.”

Premium Streetwear Retailer PLUS Continues Canadian Expansion with New Locations

By
Sean Tarry
-
Exterior of PLUS flagship at Yorkdale Shopping Centre. Photo: PLUS
Exterior of PLUS flagship at Yorkdale Shopping Centre. Photo: PLUS

As far as categories go, the premium streetwear space is a scene. With a tapestry of product that ranges from the plain and uncomplicated to the opulent and outrageous, it captures the essence of today’s youthful, aspirational consumer, revealing a taste that is as eclectic as it is cultured. It’s a scene typified by rare and limited-run items that are often the product of exclusive, high-profile collaborations, and is one that has been represented by an outlying niche audience for the better part of the last couple decades. However, a surge over recent years in the popularity and interest in acquiring these difficult-to-obtain products has resulted in their increased demand and a broadening of the segment to include more of a mainstream clientele. It represents an interesting shift in the space. And, for retailers that can recognize the shift, like Vancouver-based consignment streetwear purveyor, PLUS, the opportunities that arise are as unique as the products it sells.

Founded in late 2017 by Ibrahim Itani and Andy Zhu – a pair of young entrepreneurs sharing a friendship and mutual enthusiasm related to streetwear – the retailer is a relative newcomer to the industry. Offering a scope of product that includes limited streetwear and footwear produced by contemporary brands like Supreme, Off-White, BAPE and Nike, as well as collectors’ items and other obscure memorabilia, the company opened its first location in Vancouver’s lively and trendy Gastown. The store was intended to fill what Itani and Zhu perceived as something of a vacuum in the city and surrounding area – a need and want for the range of premium, curated, exclusive goods that it makes accessible to its customers. And in very short order, the pair’s high-end boutique concept proved a success, almost immediately becoming one of the city’s most popular streetwear fashion destinations. Today, just three years following its introduction to the scene, PLUS enjoys the standing as the only premium streetwear retailer in Canada with a national presence, operating four locations in Ontario, Alberta and British Columbia.

Strong Customer Connections

It’s a standing that Itani recognizes as an important one concerning the growth of the company, describing it as the result of its belief in its customer and dedication toward supporting the expansion of the segment. And it’s a belief and dedication that are at the moment paying dividends for PLUS, allowing it to cultivate strong connections with its fashion patrons, fueling the retailer’s early success. It’s a customer-first philosophy that Itani explains is deliberate, and has even been captured in the meaning found within the company’s name – an acronym that stands for ‘People Like Us’.

“The PLUS customer is unique,” he explains. “They have unique tastes and preferences and possess a style and perspective on fashion that’s usually pretty niche. They’re often prepared to search for the specific items they want and are willing to spend money on them when they find them, too. And that’s very much a part of who we are as a company and as individuals. Our customers are people like us, sharing the same tastes, aspirations and desires as fellow streetwear collectors. We’re just in the position as a retailer to be able to satisfy their tastes and begin to cater to the interests of a bit of an underserved and growing market in Canada, of which we’re a part of as buyers.”

Collectors at Heart

Itani and Zhu, both in their early twenties, started as collectors during their high school years, each developing a fascination and keen passion for discovering these hard-to-find items that could complement their wardrobes and collections. Today, leveraging a flexible, multi-source buying strategy, PLUS is able to maintain an impressive inventory at its locations in Vancouver’s Pacific Centre, Chinook Centre in Calgary, Square One in Mississauga and its recently opened flagship store in Toronto’s prestigious Yorkdale Shopping Centre. The quick growth experienced by the company could seem to represent quite a feat for the two young streetwear enthusiasts. But, don’t for a second underestimate the business acumen that they’ve already collectively acquired, a way of running the business that seems to come naturally to the duo as they continue to monitor market trends to identify opportunities for further growth and expansion of the PLUS brand.

“The premium streetwear segment within the fashion industry has changed quite a bit through the years,” says Itani. “As a result of the explosion of social media, combined with the world we live in which is becoming increasingly connected through the internet and other digital technologies, there’s greater exposure to these styles and types of product. What was once a very niche market has now started to cross over into the mainstream. We wanted to get in front of this trend. To do that, we made the decision to open locations in major malls across the country. The decision allows us to continue growing organically, making our offering available to an even wider audience, connecting with even more people like us.”

A Unified Brand Experience

It’s with this confident attitude and adept understanding of the market and the customers that the retailer serves that allows PLUS it’s greatest advantage, separating it from others operating in the secondary resale realm. That and, of course, the product that it carries. With price tags that range from $150 to many-thousands of dollars, the retailer offers an array of exclusive, limited-run footwear and streetwear items, as well as art, branded accessories and just about everything else in between. It also leverages a clever and tasteful store design that’s complementary to the brand and the products it offers, and is one that’s consistent across PLUS’ growing network of stores.

In addition, PLUS has also managed to seamlessly integrate its online and in-store experiences for customers. It offers a robust website and e-commerce platform enabling online browsing and ordering while maintaining and leveraging its many customer profiles across its network, ensuring the same consistent engagement and service in all of its stores. In speaking with Itani, it’s clear that the uniformity of the PLUS brand and its national presence is a real point of pride for the company, and one that continues to drive the company forward.

“We want our customers to enjoy the same excellent experience with us, whether online or in one of our four stores across the country,” he asserts. “By providing them with the same high-quality product and expert service and advice with every interaction they have with our brand, we’re able to develop deep, meaningful relationships with them. It allows us to continuously understand changes in the market and the ever-evolving tastes and preferences of our audience and the styles that interest them.”

Plans for Continued Growth

PLUS’ understanding of its customer, combined with an uncanny awareness of frequently changing styles and an acute sense of the trends that help shape these evolutions, is also reflected in the ongoing modifications and alterations the company makes to the product and items it carries. Itani explains that there’s something of an ebb and flow to the streetwear market and the fashions customers of the segment are looking for, and that it’s PLUS’ job to ensure that those appetites and inclinations are mirrored in its offering. It’s an attention to these details of the business that further differentiates the company. And, on top of going out of its way to provide its customers with the brands and styles that satisfy their fashion desires, Itani points to the value of the creative relationships and partnerships that PLUS has developed. Within an industry and segment sometimes blighted by fraudulent knock-offs and counterfeit product, PLUS can guarantee by virtue of its connections that the items for sale in its locations are genuine and authentic. It serves to legitimize the brand as an honest source for streetwear product and another way in which it connects with its clientele, providing a solid platform for future growth.

And, with respect to the company’s future growth plans, Itani is as bullish about the opportunities that lay ahead for PLUS as he is about the continued growth of the premium streetwear category. Though he curbs his excitement just a bit, recognizing the unique pandemic period that we’re all currently living through and the ways in which many within the retail industry have been so negatively impacted, he remains optimistic, still seeing a lot of untapped potential for the company to reach even more fans of the unique product that the company carries.

Restaurant Industry on Verge of Collapse in Canada Without Government Support: Interviews

By
Mario Toneguzzi
-
Chef wearing face mask hanging closed sign on restaurant door.
Chef wearing face mask hanging closed sign on restaurant door.

Many restaurants across Canada are on the brink of collapse as they face further restrictions on how they can operate as a second wave of COVID-19 sweeps across the country.

In a recent public letter, Restaurants Canada, with more than 40,000 members, called on all levels of government to stop system-wide restaurant closures as we undergo a second wave.

Restaurants Invest $750 Million to Protect Patrons but Shutdowns are Still Happening Across Canada

“Restaurants have invested over $750 million in training, sanitizer stations, PPE, air purification systems, and other protective equipment, all designed to provide the highest levels of safety for our customers. And national research indicates that 87 percent of Canadians agree that restaurants are doing a good job of keeping consumers safe,” wrote Todd Barclay, President and CEO of the organization.

Todd Barclay. Photo: LinkedIn
Todd Barclay. Photo: LinkedIn

“Despite these investments, we are still being shut down. Our industry wants to be a part of the solution. We want to welcome customers back to our dining rooms, but without the transmission data and additional government support, half of all local restaurants are at risk of closing within a year. We have already seen 188,000 jobs lost, and recent closures could see that number rise by another 100,000 jobs. We all deserve to know why and what we can do to stop these closures.”

A recent survey by Statistics Canada found that close to three-fifths (57 percent) of businesses in the accommodation and food services sector reported that they were unable to take on more debt and 29.2 percent of businesses in the accommodation and food services sectors reported that they could continue to operate at their current level of revenue and expenditures for less than six months before considering further staffing actions, closure or bankruptcy.

Recently, Canada’s premier, multi-brand hospitality group King Street Company Inc. announced it had gone under the Companies’ Creditors Arrangement Act, in order to restructure its businesses and financial affairs, as a direct result of the COVID-19 crisis.

“Alongside the entire hospitality sector, the COVID-19 pandemic has put us in an extremely difficult situation that was beyond our control,” said Peter Tsebelis, Managing Director & Partner of King Street Company Inc., in a statement. “We are grateful to our loyal clientele, our tireless staff, our supportive financing partners, and all of our stakeholders that have helped us through these very challenging circumstances. This was an emotional decision for us but we are confident that the CCAA process will give us time to stabilize our business and ultimately put us in a stronger position to build on our successful brands as we emerge from the COVID crisis.”

The company was founded in 2006 by Tsebelis and Gus Giazitzidis and its brands include Jacobs & Co. Steakhouse, Buca Osteria & Enoteca, Bar Buca, Buca Osteria & Bar, La Banane, and CXBO Chocolates.

The company said its growth “came to a devastating halt due to the COVID-19 pandemic bringing unexpected and staggering financial difficulties for much of the hospitality industry, including The King Street Food Company.”

Restaurant Industry in Dire Straits Due to Pandemic Restrictions

Michael Kehoe. Photo: Troy Media
Michael Kehoe. Photo: Troy Media

Michael Kehoe, a retail specialist with Fairfield Commercial Real Estate Inc., in Calgary, said pandemic restrictions on the restaurant industry have put that category in dire straits.

“We’re seeing it first hand across Alberta and we know it’s happening in other parts of Canada. There are bright spots. I’m hoping to see continued innovation in restaurants like robust curbside, pickup and take out menus. Many operators are catering events as well as those that are creating meal kits for customers to pick up or deliver. Refrigerated, packaged dinner options are popular right now. We’re seeing restaurant operators becoming very creative in the way they serve their customers and that’s a good thing.

“But some independents and the chains have been pushed to the brink during the pandemic and they’ve already filed for bankruptcy protection, others have decided just to shutter their locations. Many were already gasping for air but the COVID crisis likely accelerated their demise.”

For casual dining restaurants, in-house dining service makes up the bulk of their revenue and now they’re incurring additional expenses in health and safety measures. Also, there continues to be no rent relief in place.

“With the capacity limits in place and further lockdowns on the horizon, many restaurants don’t have the full potential for revenue to pay their contracted rent. Landlords need to determine which restaurants are truly in distress and can’t survive without some form of assistance,” said Kehoe. “It’s a negotiation between tenant and landlord.

“Right now we’re moving into the next phase of restaurant survival. One way to protect the financial stability of the restaurant and provide a cushion to recover from the COVID is to structure a percentage only rent arrangement and fix the restaurant’s rental expenses with an acceptable percentage of gross sales. This is an industry with notoriously thin profit margins. They need a lifeline more than ever.”

But unfortunately, Kehoe said, the percentage rent setup won’t be enough to save some restaurants.

“Landlords have to decide. A restaurant that’s empty is not a good situation anytime. It’s even more damaging to landlords today. It’s better to have some dollars flowing in with a restaurant that’s open rather than having an empty restaurant.”

In Conversation with Iain Nairn, President & CEO of Hudson’s Bay, on November 23

By
Retail Insider
-
RCC banner 'In Conversation with Retail Leaders in Canada'
RCC banner 'In Conversation with Retail Leaders in Canada'

On November 23, Retail Council of Canada will host an exciting online session with Diane J. Brisebois, President & CEO of RCC, and Iain Nairn, President & CEO of Hudson’s Bay. Iain will discuss in detail how Hudson’s Bay is reinventing itself as a digital institution.

Hudson’s Bay is not only innovating as an e-commerce retailer, but in new digital spaces such as the Nintendo game Animal Crossing: New Horizons where players can dress their avatars in classic HBC prints. This is just one example of how this iconic company is integrating itself into Canadian consumers’ lives in creative and unexpected ways.

Iain will also discuss the future of fashion and beauty and the new role of the department store in today’s retail environment.

In Conversation with Iain Nairn of Hudson’s Bay

In Conversation with Iain Nairn, President & CEO of Hudson’s Bay

November 23, 2020

3 pm ET

Tickets: RCC Members $50 | Non-members $75

About the Series

In Conversation with Retail Leaders in Canada is an online series of one-on-one sessions between RCC President & CEO Diane J. Brisebois and Canada’s top retail leaders. This series offers an insider’s view of some of the most powerful and innovative retail companies in the country.

*Partner content. To work with Retail Insider, email: craig@retail-insider.com

Second Round of Pandemic Lockdowns Could See 225,000 Small Businesses Close in Canada

By
Mario Toneguzzi
-
Row of small retailers on Toronto's Queen Street West. Photo: Dustin Fuhs
Row of small retailers on Toronto's Queen Street West. Photo: Dustin Fuhs

Many small businesses and retailers in Canada are far too fragile to survive another round of pandemic lockdowns, says the Canadian Federation of Independent Business.

As cities, provinces, and the federal government move toward new business closures in many parts of the country, the national organization is urging them to provide immediate and full financial support to affected businesses. Earlier CFIB estimates suggest 160,000 small businesses across Canada may permanently close due to COVID-19, with the potential for the number to rise to 225,000.

CFIB Estimates 160,000+ Small Businesses in Canada to Close Due to COVID-19

Dan Kelly
Dan Kelly

Dan Kelly, the CFIB’s President, said that “business owners should not be asked to cover the costs of protecting society through fresh lockdowns of the economy alone. They need full, immediate and ongoing support in any jurisdiction where new restrictions are introduced”.

George Minakakis, a global retail executive with over 25 years of experience and CEO of the Inception Retail Group, said the retailers and small business owners who have enough liquidity to raise capital to see themselves through operationally over the next six to 12 months are the ones that are going to survive.

“That depends on how good their balance sheets look and so much of this is also dependent on what happens with this holiday season. They’ve always counted on this to break even. I shudder to think what it really is going to look like. It’s difficult to say. I don’t think there’s a business out there in the consumer sector that tries to forecast this out more than a month or two months at a time. It’s just difficult to do because it’s such a wild card,” said Minakakis.

“Look at what a difficult time the government is having to try and predict the virus itself. The virus grows and shifts. So does the consumer psyche. And without that level of confidence being there that erodes the ability of these businesses to bounce back. It really comes back to how strong their financials are and whether or not you can weather it out.”

It is the smaller retailers that will face the stiffest challenges.

George Minakakis
George Minakakis

“It’s not impossible. If this was an economic depression, what would you be doing differently to bring traffic in. That’s what I ask everyone,” said Minakakis.

The possibility is there for the consumer to retract even more as governments and media continue to sound the alarm over the second wave of the virus.

“That worries me more than anything,” said Minakakis. “If you don’t have a decent holiday season as a retailer, then I wouldn’t be counting on Boxing Week for anything. The messaging right now from the government and whatever tactics they take I think all of this is affecting the consumer and without consumer confidence what have you got? You don’t have a lot,” said Minakakis.

“And I’m worried that’s going to permeate into the first quarter and in the first quarter we’re probably going to see some other larger businesses that didn’t fare well or haven’t been faring well look for credit protection or even bankruptcy.”

StatsCan Reports 5.2% of Canadian Businesses Considering Bankruptcy

A recent Statistics Canada survey found that 5.2 percent of Canadian businesses reported that they were actively considering bankruptcy or closure.

Over three-quarters (76.9 percent) of businesses had the cash or liquid assets required to operate. Over two-fifths (43.9 percent) of businesses reported that they were unable to take on more debt, while nearly one-fifth (19.4 percent) could not say whether they could take on more debt, said the federal agency.

StatsCan said close to one-third (30.4 percent) of businesses did not know how long they could continue to operate at their current level of revenue and expenditures before considering further staffing actions, closure or bankruptcy, while nearly one-fifth (17.5 percent) reported they could continue for less than six months.

Bruce Winder
Bruce Winder

Bruce Winder, author of RETAIL Before, During & After COVID-19 and President of Bruce Winder Retail, said additional lockdown activity and restrictions will have a fairly negative impact on certain sectors of the retail industry.

“For a lot of them, we’re sort of in the Super Bowl time right now. There’s this fourth quarter. It’s the worst time to have this happen. You’re already going to see this, but now you’re going to see an even greater sense of it, is a move to online shopping,” said Winder. “More and more people are going to look at this and say I probably don’t want to go to a mall or won’t be able to go to a mall or a store potentially so I still need to do gift giving for the holiday and I’m going to try and do as much as I can via online shopping or curbside pickup or something like that.”

For many retailers, this is make or break time.

“A lot of them have been sort of holding on by a thread and they were counting on some good business, enough to pay some bills, generate some cash. Some have bought inventory and they’ve waited to pay suppliers until they get cash in the fourth quarter. Not the big guys. I’m talking more the small and medium guys. This could be make or break for them. This is sort of like their last stand to try to make it work,” said Winder.

“There’s been some lateness in terms of government programs with rent support. Sadly for retailers that’s really been one of the nails in the coffin for retail, especially small and medium sized retailers. The original program, and the failure of the original program that the government put forth, and then in the second wave of it that they’ve updated it . . . it’s been a little late. All this adds up.

“But I think the thing unfortunately that’s going to be the biggest impact is that we’re in the second wave now. If we could have avoided the second wave, some of them might have survived because they’d have some cash in flow. Yes they are going to do business online and that helps. But it’s not enough. It’s not enough to make up for it. For some retailers. There’s some retailers out there who are well capitalized, they’ve been able to negotiate with their landlords, they already had a robust online business before this hit. They’ve got deep pockets and they’re going to get through this. But it’s that small to medium size or fringe retailer. Even the medium size ones. Look at the Reitmans of the world and the Aldo’s. Every week or two we hear about another Canadian retailer going bankrupt. You’re going to see more of those sort of medium size fringe retailers going bankrupt. A lot of them will probably wait until January just because they’re going to try and make a go of it but you’ll probably see a fairly large uptick in bankruptcies in January or worse February when all the bills come due and they realize they don’t have the cash.”

Read More Retail Insider Articles about Small Businesses in Canada During the Pandemic:

PR Maven Natasha Koifman Launches Drop004 Concept Store to Support Local Entrepreneurs [Photos]

By
Mario Toneguzzi
-
NKPR Founder, Natasha Koifman.
NKPR Founder, Natasha Koifman.

The unique e-commerce retailer ShopNK has launched its new Drop004 which is a curated assortment of giftable products spotlighting local entrepreneurs, small businesses, as well as hard-to-find items to support those businesses during the challenging COVID-19 pandemic.

Natasha Koifman created the platform just over a year ago as a curated site with a conscience where a portion of sales are directed to certain charities and causes.

Every time new product is introduced to the site it’s called a new Drop.

“I felt that it was more important now than ever to support small businesses and causes. When I started ShopNK or had the idea for ShopNK last year, it was very much grounded in how do we support our community and how do we ensure that every person that shops on the site makes a deliberate decision and a deliberate choice to support certain causes because there’s a drop down where you get to choose yourself which cause to support,” said Koifman.

“Fast forward a year later we’re in the middle of COVID and what I’m seeing all around me is small businesses, just like charitable causes, need our support. So much of what I’ve curated for this Drop is showcasing our support for local businesses. So you’ll see things like Mary’s Brigadeiro. She’s a young black woman entrepreneur that owns a chocolate business locally here in Toronto. And we wanted to partner with her.”

The site also features for example an exclusive leather jacket in collaboration with Toronto-based leather brand NAMESAKE as well as cashmere winter accessories by local knitwear companies, LINE and The Cashmere Shop.

“What’s important to note is that the product on the site we buy outright. They’re not consignment. So we really are supporting local but at the same time people do get to choose where they want their charitable dollars to go. Ten percent of every sale goes back to a charity of their choice and they get to choose from a variety of charities that are on the site,” said Koifman.

Koifman created public relations firm NKPR in 2002 to combine her two passions: sharing stories of substance and championing important causes. She is recognized as one of Canada’s most powerful and innovative women in public relations and has been honoured with awards from the Women’s Executive Network (WXN), Notable magazine, BizBash, and others. She’s a sought-after speaker and commentator on public relations, marketing, popular culture and fashion.

  • An example of gifts from ShopNK. Photo: ShopNK
    An example of gifts from ShopNK. Photo: ShopNK
  • An example of gifts from ShopNK. Photo: ShopNK
    An example of gifts from ShopNK. Photo: ShopNK

The launch of ShopNK came at an opportune time as the retail industry continued to see the growing popularity of online shopping. Today, it’s even more so as the COVID-19 pandemic has forced many people to increasingly adopt e-commerce for their spending.

Koifman said those numbers will continue to rise.

“I think if you’re going to a brick and mortar store it’s for something very specific. It’s deliberate. There’s also a shift now where consumers are browsing online.

“I also think what we’re also seeing is that people care about where their products come from. People care who they’re supporting and they care about giving back to their community. I think we’ve heard it so much this year that we’re all in this together. We need to demonstrate that because if we are truly all in this together then we need to make sure we’re doing our part to support one another. That’s the sentiment and I think people are taking action.”

With 34% of Canadians Willing to Pay More for Local, has Drop004 by ShopNK Come at the Perfect Time?

Koifman cited statistics indicating that 42 percent of consumers believe that the way they shop will fundamentally change as a result of COVID-19 which is a high number. And 34 percent indicate they would pay more for local product.

“I don’t know if before COVID we necessarily thought about it in the same way. We definitely thought about community giving and giving back but we didn’t put faces necessarily in the same way to the businesses that are in our community. Now we do and we are because we feel for them,” she said.

During this holiday season, one of the big questions for retailers is how open will consumers be to spending especially given the fact that the second wave of coronavirus has apparently hit the country and economic uncertainty prevails.

Koifman said she believes people will be more mindful of what they spend but there will still be a spend. She cited a recent stat showing that 71 percent of Canadian shoppers will shop more at local small businesses.

SmartCentres Redeveloping Vaughan Property into Mixed-Use High-Density ‘Crown Jewel’

By
Mario Toneguzzi
-
Rendering of SmartVMC. Rendering: SmartCentres
Rendering of SmartVMC. Rendering: SmartCentres

SmartVMC, the massive 100-acre development at the Vaughan Metropolitan Centre located at Highways 7 and 400 near Toronto, is the crown jewel of SmartCentres REIT’s evolution ‘from shopping centres to city centres’. Redevelopment in the area will result in the creation of a vibrant new downtown Vaughan which will be a centre of culture, recreation, commerce, open spaces, and urban life.

The area was first identified for intensification and development in 2006 with the announcement of the extension of the TTC Subway Line 1 from Toronto. Construction on the TTC’s Vaughan Metropolitan Centre station was completed in 2017.

“Having the subway extend right onto our property was a game-changer in terms of the growth potential for the area. When the Vaughan Metropolitan Centre Subway station was announced, SmartCentres and the City of Vaughan collectively saw an opportunity to create something truly special – a world-class city centre from the ground up,” said Paula Bustard, Executive Vice-President of Development for SmartCentres REIT.

“The potential on our 100 acres of land is unprecedented. Diverse transit and accessibility options make the location exceptional, and it’s all being built on mostly vacant land which is allowing us to develop an urban core right out of the gate.”

In addition to the subway, the site is also serviced by a rapid transit bus system as well as the new York Regional bus terminal which is connected by underground tunnel to the Vaughan Metropolitan Centre Subway station. The bus terminal creates complete transit connectivity between North GTA neighbourhoods and Toronto’s downtown core.

The subway ride from the Vaughan Metropolitan Centre to Toronto’s Union Station takes less than 45 minutes.

“The subway extension, rapid transit access and bus terminal represent a public transit and structural investment of approximately $4 billion on these lands,” said Bustard. “Additionally, we maintain excellent vehicular access via Highway 400 with close proximity to Highways 407 and 401.”

Province of Ontario Identifies Vaughan Metropolitan Centre as Urban Growth Centre

The area had been identified for many years by the Province of Ontario as an urban growth centre and now that the transit infrastructure is in place, the area is primed for high density intensification.

As the transit hub was being planned, SmartCentres set out to develop a master-planned community unlike anything in the area. At the heart of SmartVMC there will be a 9-acre central park that will stretch across the property, designed by world-renowned landscape architect Claude Cormier.

“We’ve planned the area around the park,” said Bustard. “The intention is to make the area feel like a park with buildings around it, rather than the inverse.” Groundbreaking for the first phase of the park is set to occur in spring 2021.

The Vaughan Metropolitan Centre’s new skyline is already well underway, with a proposed 20-million-square feet of new development planned for the area in coming years.

Construction of KPMG Tower, the first new building erected in SmartVMC, was completed in 2017. This 15-storey, Class-A, 355,000-square-foot office tower is fully leased to some of the world’s best-known companies such as KPMG, Harley Davidson Motorcycles, and Marc Anthony.

Click for interactive Google Map of Vaughan Metropolitan Centre and surrounding area.
Click for interactive Google Map of Vaughan Metropolitan Centre and surrounding area.

Until KPMG Tower was built, Class-A office towers were uncommon/unconventional in Vaughan. SmartCentres was looking for the kind of tenants who wouldn’t otherwise be located in a typical suburban office towers.

“World-class cities have world-class office towers. Class-A towers legitimize our vision of a world class downtown. With thousands of people already working in SmartVMC’s office towers, plus daily subway commuters, you will really feel the energy of a metropolitan centre,” added Bustard.

SmartCentres opened a second office tower, continuing its strategy of opening office towers to generate buzz and energy in the area, with the recently completed PwC-YMCA building. The building not only features offices for PwC but also a 120,000-square-foot YMCA and brand-new 20,000-square-foot Vaughan Public Library, set to open in the coming months. These spaces will serve as community hubs right in the centre of Vaughan’s new downtown at the Vaughan Metropolitan Centre.

“Development in the area is centred around great architecture and a meaningful mix of uses throughout the site. Following the development of offices and community-centric amenities, our next builds were three, 55-storey SmartLiving residential towers called ‘Transit City,’” said Bustard.

“We sold all 1,750 condominium units very quickly. People are excited.” New residents recently began occupancy in the first two towers.

Not only are new residents moving into the area, but new retail tenants are as well. Toronto-based Balzac’s Coffee opened last month, and more acclaimed retail and renowned dining is expected to open in the area as development continues.

“We have over 3.5 million square feet built and/or under construction. The site is dynamic and is transforming day-by-day.” SmartCentres’ steady growth in SmartVMC has continued with groundbreaking ceremonies for three more SmartLiving residential towers: two fully sold-out, condominium towers containing 1,000 units; and one purpose-built, over 360-unit rental tower, for the first of its kind in the Vaughan Metropolitan Centre.

Rendering of future central park within Vaughan Metropolitan Centre. Rendering: SmartCentres
Rendering of future central park within Vaughan Metropolitan Centre. Rendering: SmartCentres

The three buildings will be centred around a one-acre park, also designed by Claude Cormier.

SmartCentres’ Relationship with Walmart Helped Shape the SmartVMC Development in Vaughan

SmartCentres’ longstanding relationship with Walmart has played a role in the SmartVMC development as well. As the plans for the new city centre progressed, Bustard said that SmartCentres worked in close partnership with Walmart to relocate the existing Walmart Supercentre from its current location, adjacent to the future 9-acre park, to a nearby location with improved highway visibility and access.

“We have an excellent relationship with Walmart and worked very closely and collaboratively with them to identify an optimal new location to build a state-of-the-art expanded Walmart Supercentre that will accommodate the growing needs of the neighbourhood,” said Bustard

Vaughan Metropolitan Centre Walmart Supercentre. Photo: Google
Vaughan Metropolitan Centre Walmart Supercentre. Photo: Google

The all-new, 140,000-square-foot Walmart Supercentre has strong visibility from Highway 400. The new store features a first-of-its-kind-in-Canada, 10,000-square-foot drive-through eCommerce pick up point. This new Walmart opened October 22. The move frees up space for additional residential intensification in the heart of the Vaughan Metropolitan Centre.

SmartCentres has plans to use the space as a vibrant community hub with festivals, concerts, art, world-class dining, and all the things one can expect to find in a major urban centre.

In January 2020, SmartVMC’s Transit Square, a public square the size of Toronto’s Dundas Square welcomed the community, including over 180 youth sports teams, and NHL superstars for Rogers Hometown Hockey.

“We are excited to see the spaces we are building used by the local community,” said Bustard.

“We are proud to develop SmartVMC in our backyard, next to our home office, and see the community take full advantage of the area. Over the next few years, the area will become a bustling urban downtown, with 10,000 people coming and going every day.”

Canadian Mall Landlords Innovate with Virtual Santa Experiences

By
Mario Toneguzzi
-
Santa Claus peeking out from behind festive door
Santa Claus peeking out from behind festive door

Santa won’t be coming to town this year at CF shopping centres across the country.

Cadillac Fairview, the operator of 19 malls in Canada, has announced it is moving all Santa Claus experiences to virtual and online only this year.

“We’ve had extensive conversations with government officials, conducted consumer research, and spoken directly with our guests in order to get our approach to this holiday season just right. Similar to what we’ve seen with other important events like weddings and birthday parties, we believe this temporary shift to online is the responsible thing to do in a very different year,” said Craig Flannagan, VP of Marketing, Cadillac Fairview.

Craig Flannagan

“While we know this may be disappointing for families who look forward to this annual tradition, we firmly believe this is the best decision and we are confident that our virtual Santa experiences will deliver all of the magic of the holidays.”

All across the country, shopping centres are deciding how the traditional Santa Claus experience for children will be conducted this year due to the COVID-19 pandemic. It’s really dependent on where they are located as every province has its own pandemic-related restrictions in place. Some shopping centres, like CF, are closing down personal Santa visits and going with the virtual experience. Others, like for example, Oxford-owned Southcentre Mall in Calgary will continue with the personal traditional experience but with a twist and with several health safety measures in place.

Cadillac Fairview Introduces Virtual Santa Experiences Amid COVID-19 Pandemic

Cadillac Fairview said it is introducing several new virtual Santa experiences to keep the magic and spirit of the season alive for Canadian families. CF Storytime LIVE with Santa will take place on Facebook LIVE! and feature 15-minute episodes in both English and French that will bring families together at home. Also new this season: virtual visits with Santa where families can have a video chat with Santa. Parents can arrange to receive a special video call with Santa while he’s busy at the North Pole preparing for the holiday season. For more information and to make reservations for these virtual experiences, people can visit their local property website, found on cfshops.com.

At Southcentre Mall, the Santa experience will be new this year. People will be able to capture photos at a brand-new Santa set, on the second level of the mall just outside of Hudson’s Bay, that will offer the same magical experience for families, while ensuring everyone remains safely distanced.

Enhanced sanitization protocols will also be implemented between each visit as people travel through Santa’s Christmas tree farm and make their way to his shiny red truck to have their photo taken next to the mask-wearing Christmas icon. Southcentre’s signature ‘Sensory-friendly Santa’ program will also return this year with designated booking times for children who have sensory sensitivities and mobility issues to visit Santa in a modified environment, making it possible for all families to experience this holiday tradition. Pet owners will also be invited to attend with their furry friends for pet photos with Santa on designated dates, explained Southcentre.

Southcentre Mall's Santa Instagram announcement
Southcentre Mall’s Santa Instagram announcement

It said this year’s Santa-scape will include one-way traffic flow, designated entrance and exit points, clearly marked waiting zones, minimal touch points, temperature checks and mandatory hand sanitization upon entry. People will be encouraged to book their visit in advance using the online booking system which will accommodate 10 photo sessions per hour on a daily basis up until Christmas Eve.

“We’ve pretty much revamped the whole Santa experience in order to address all the challenges with COVID-19,” said Alexandra Velosa, Marketing Manager, Southcentre Mall. “We moved from a common area into a contained space.

Alexandra Velosa (Linkedin)

“It has been a difficult year for everyone and we know it was needed just to spread some cheer and encourage good behaviour and kindness. We’ve been thinking of everything people have been through this year and Santa is such a beautiful family tradition that we took the challenge of delivering a program that is safe but at the same time brings a nice experience to the families so that they can enjoy Christmas as normal as possible.

“It’s going to be safe and social distanced but it’s not going to be the same we know that but we’re trying our best to at least build a space where memories can be taken and everyone can leave with a beautiful photo even though they are wearing a mask.”

Southcentre Mall Sees Early Beginning to Holiday Shopping Season

Southcentre Mall, like other shopping centres across the country, is seeing an earlier beginning this year to the holiday shopping season and it is responding with enhanced customer service, curbside pickup parking spots, and digital tools.

“While we recognize that holiday shopping will be different this year, we remain committed to providing shoppers with an exceptional guest experience that takes them beyond the commercialism of the season. We continue to prioritize the health and safety of all as we provide access to a number of cheerful holiday traditions, including a fresh take on visiting Santa,” said Velosa.

“We have also introduced a range of digital tools and services to help customers shop safely and efficiently and continue to be mindful of how the in-person shopping experience has evolved and impacted both our shoppers and our retailers. By planning ahead and visiting us online, shoppers can search for products before they shop, make note of curbside pickup zones and take advantage of ordering food for delivery or pickup.”

CF Pacific Centre Tour in Vancouver [Mall Tour Series – October 2020]

By
Lee Rivett
-

Retail Insider’s series of Mall Tours heads to Cadillac Fairview’s CF Pacific Centre in downtown Vancouver October 2020. Craig and Lee discuss what’s happening at CF Pacific Centre in a tour showcasing what’s open, a bit of history on the centre and what has closed recently.

Pacific Centre Shopping Centre Tour Video Tour:

Pacific Centre Shopping Centre Tour Details: 

Pacific Centre Retailers Mentioned in Tour:

Other Malls in the Retail Insider “Mall Tour” Series:

1...874875876...1,283Page 875 of 1,283

FEATURES ON RETAIL INSIDER

spot_img
spot_img

About

Contact

Media

Follow

© 2025 Retail Insider Media Ltd. All Rights Reserved. The content on this website is protected by the copyrights of Retail Insider Media Ltd. or the copyrights of third parties and used by agreement. No part of any of the content of this website may be reproduced, distributed, modified, framed, cached, adapted or linked to, or made available in any form by any photographic, electronic, digital, mechanical, photostat, microfilm, xerography or other means, or incorporated into or used in any information storage and retrieval system, electronic or mechanical, without the prior written permission of Retail Insider Media Ltd. or the applicable third party copyright owner.