Nearly half of Canadians regret their debt as persistent ‘debt blind spots’ leave many financially vulnerable: MNP

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March 2, 2026

As financial pressures persist, five years of national tracking data compiled by Ipsos on behalf of MNP LTD show that debt concern remains elevated, financial preparedness has declined, and debt literacy lags.

More than two in five Canadians (44%, +2 pts 2025 vs. 2020) say they are concerned about their current level of debt, and nearly half (47%, +2 pts 2025 vs. 2020) regret the amount of debt they have taken on over their lifetime. Confidence in long-term financial stability remains fragile, with only half of Canadians (51%, -2 pts 2025 vs. 2020) believing they will be debt-free in retirement. Debt anxiety is especially pronounced among younger generations. Concern about current debt is highest among Gen Z (55%, +13 pts 2025 vs. 2020) and Millennials (55%, unchanged 2025 vs. 2020), while three in five Millennials (59%, +2 pts 2025 vs. 2020) say they regret the amount of debt they have taken on in life, the highest of any age group, said MNP in a news release on Monday.

Source: Ipsos on behalf of MNP LTD

From 2022 onward, measures of debt concern, debt regret, and confidence in being debt-free in retirement among Canadians show greater quarter-to-quarter variation, consistent with a period of economic adjustment. In 2024–2025, the three measures move within a narrower range than in prior years, suggesting less separation between Canadians’ views of their past, present, and future debt.

MNP said a debt literacy gap persists. While borrowing has become more common amid cost-of-living pressures, many Canadians remain unclear on how interest works in practice and how rate changes affect their own financial position. One in five Canadians (20%, -5 pts 2025 vs. 2020) still say they do not have a solid understanding of how interest rate increases impact their financial situation, indicating that although there has been modest improvement over five years, significant knowledge gaps remain, it explained.

“The data underscores the need for stronger debt literacy across the country. Awareness of balances owed is not enough. A practical understanding of compounding interest, rate sensitivity, and contingency planning is increasingly important in today’s environment,” said Grant Bazian, president of MNP LTD, the country’s largest insolvency firm. “The compounding effect of interest can carry significant long-term consequences. Over a five-year period, for example, debt can behave like financial quicksand: borrowing costs compound quietly, and even small rate increases can deepen the burden over time. What begins as manageable can gradually extend repayment timelines and inflate total interest paid.”

MNP said it is marking Debt Literacy Month this March with a focus on ‘debt blind spots,’ helping Canadians better understand where their financial vulnerabilities lie, how quickly circumstances can change, and why planning for life’s ‘what ifs’ matters.

“Financial shocks are often what push people into debt, or deepen existing debt, and debt literacy is what helps Canadians recognize the warning signs early, understand the trade-offs of relying on credit, and know their options before a situation escalates,” said Bazian.

Compared with five years ago, Canadians report feeling less equipped to handle unexpected life events, as unresolved debt blind spots leave households more vulnerable when unexpected income loss or expenses arise. The most recent data shows that Canadians recorded negative confidence scores (those who are confident minus those who are not confident) for every unexpected life event tested — and those scores have all worsened since 2020, underscoring that many of the same risk-readiness blind spots persist today, said the company.

Source: Ipsos on behalf of MNP LTD

In a side-by-side comparison of 2020 and 2025, Canadians’ net confidence in coping financially with unexpected life events is lower across all categories, and all measures now fall in negative territory.

Unexpected financial shocks such as education costs (-13%, -5 pts 2025 vs. 2020), job loss (-8%, -4 pts 2025 vs. 2020), death of an immediate family member (-8%, -1 pt 2025 vs. 2020), and an illness preventing work for at least three months (-7%, -8 pts 2025 vs. 2020) showed the greatest vulnerability. Relationship changes such as divorce or separation (-1%, -5 pts 2025 vs. 2020) and unexpected auto repairs or vehicle purchase (-2%, -8 pts 2025 vs. 2020) also remained in negative territory, though to a lesser degree, according to the report.

Source: Ipsos on behalf of MNP LTD

Starting in 2022, Canadians’ confidence in handling unexpected life events exhibits greater quarter-to-quarter fluctuation, reflecting a period of economic adjustment, and in 2024–2025, the measures remain firmly in negative territory, underscoring that many Canadians report low confidence in their ability to cope with major financial shocks.

“Sudden changes in circumstances can strain household finances quickly, particularly for individuals who are already relying on credit to manage everyday expenses,” explained Bazian. “The most common triggers that push people into unmanageable debt are relationship breakdowns and job loss or reduced income. Seeking qualified advice early can help individuals understand their options and make informed decisions before financial pressures escalate.

“Misunderstanding interest can lead people to underestimate how quickly balances grow, rely too heavily on minimum payments, or delay seeking debt help until their situation becomes more difficult to manage,” says Bazian. “Making only minimum payments can mean carrying debt for decades and paying several times the original purchase price in interest. As compounding interest builds over time, it’s easy to misjudge how serious their situation is becoming. That’s why having access to clear, impartial guidance about their financial situation is so important.”

Closing debt blind spots and finding the right support, MNP suggestions

Calculate the true cost of your debt, not just the balance.
Do not focus only on what you owe today. Use an amortization calculator to determine how much interest you will pay over time, especially if you are making only minimum payments.
Stop relying on minimum payments as a strategy.
Minimum payments often extend repayment for years or even decades. Paying more than the minimum whenever possible helps reduce the long-term impact of compounding interest.
Build a financial buffer, even if it is modest.
Start with a goal of one month of essential expenses. Even small emergency savings can reduce reliance on high-interest credit during unexpected events.
Review your repayment timelines, interest rate type and exposure.
Revisit your debt plan each year to ensure you remain on track and are not drifting further from repayment due to compounding interest. Know which debts are variable, fixed, promotional, or nearing the end of an introductory period. Blind spots often arise when low rates expire.
Use free assessment tools to benchmark your situation.
If you are hesitant to seek in-person advice, start with objective tools to evaluate whether your current repayment path is sustainable. Free online Do-It-Yourself debt assessment tools allow users to better understand their situation.
Separate lifestyle normalization from financial reality.
Borrowing may feel common, but that does not make it low risk. Normalize reviewing your debt regularly rather than carrying it indefinitely.
Create a written ‘what if’ plan.
Outline how you would respond to job loss, illness, or a major expense. Having a plan in place reduces reactionary borrowing decisions.
Seek guidance from a Licensed Insolvency Trustee, the only federally regulated debt professional.
Licensed Insolvency Trustees are the only federally regulated debt professionals who can provide a full range of solutions for Canadians facing financial difficulty, including consumer proposals, bankruptcy, debt consolidation options, and guidance on budgeting and repayment strategies. In many cases, they help indebted individuals explore alternatives to bankruptcy and regain stability. This often includes clarifying how interest compounds over time, how minimum payments affect overall balances, and what realistic timelines for becoming debt-free actually look like.
Do not wait until the situation feels urgent.
Many people delay seeking help until financial pressure feels overwhelming. Speaking with a Licensed Insolvency Trustee early typically means more available options and greater flexibility. Because life shocks such as job loss, illness, or relationship changes can occur without warning, having that conversation sooner can help prevent a temporary setback from becoming a long-term financial crisis.

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KRWN founder says Quebec barber brand broadens retail push as network grows to eight locations (Video)

By

Mario Toneguzzi

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March 2, 2026

A Quebec barbershop brand that began as a single location in 2014 has grown to eight outlets across the province and is now expanding its retail footprint through a partnership aimed at reaching the mass market.

Maxime Bellemare, founder and chief executive of KRWN, said the company has steadily built a network of seven barbershops and one tattoo shop while developing its own line of hair products designed by barbers rather than laboratory technicians.

“We officially started in 2014,” Bellemare said in an interview, noting the concept had been in development for up to a year before opening. “We have seven barbershops and one tattoo shop.”

The company’s locations stretch from Beauce–Saint-Georges near the Maine border to Quebec City, where the business began, as well as Trois-Rivières and Montreal. In addition, KRWN supports what it calls a certified partner salon in Gaspé operating under a different name Au 55. The entrepreneur there approached the company seeking guidance after seeing its model, Bellemare said.

“He said, ‘I saw what you guys are doing. I want to do the same. There’s a market here,’” Bellemare recalled. The company provides ongoing coaching and training to the salon and its staff.

KRWN’s growth has also included an expansion into branded hair-care products. Bellemare said the line was developed “behind the chair,” with barbers working directly with chemists to create formulas tailored to practical needs in the shop.

“One of the main differentiators for us is that instead of having a bunch of lab guys building formulas, we really depended on and based it on the behind-the-chair aspect of it,” he said. The company began with four products and now offers between 10 and 12.

Initially, distribution focused on professional channels. The products are sold in KRWN’s own locations and in other barbershops and hair salons, including female-only salons. Bellemare said the line was designed to be inclusive, with scents and formulations suitable for a broad clientele.

“We wanted to be the barbers for the barbers in making products for them,” he said.

More recently, the company adjusted its strategy to pursue broader retail distribution. Bellemare said KRWN partnered with a large Quebec-based company, Eleganza, which operates in the professional hair-product retail sector.

“Along with them, we worked on a project, and then we were able to open accounts with all of the retailers in the province,” he said.

Bellemare described the shift as consistent with the brand’s positioning. While emphasizing product quality, he said the company does not intend to target the luxury segment.

“We have high-quality products, but we don’t want to reach a market of luxury or anything. We want to make it for the people,” he said.

That philosophy extends to the barbershop model itself. Bellemare said KRWN aims to be a “traditional modern barbershop” serving a wide cross-section of clients.

“We have people who are millionaires coming to get a haircut, and we also have people from all kinds of trades,” he said. “We have people coming out of jail and judges sitting next to each other in the chair. Once they have that cape, they’re equal.”

The company’s name reflects both branding ambitions and trade terminology. KRWN stands for “Crown,” referencing the crown of a king as well as the crown of the head, which Bellemare described as a technical foundation point for haircuts.

As the company launched, Bellemare said he deliberately chose a stylized spelling as part of a broader branding strategy.

“We wanted to write history our own way and do things our own way,” he said.

The name was developed with his brother, Pierre Alexander, an artist who had worked in graffiti and tattooing. Bellemare said his brother selected the letters K, R, W and N because they were his preferred characters to tag and design in graphic art, while Bellemare focused on articulating the business’s values and vision.

“It was kind of a joint venture between the two brothers — one very creative, very artistic, and the other one more visionary and value-oriented,” he said.

While Bellemare did not outline specific financial targets, he framed the retail push and provincial footprint as steps in building a brand rooted in accessibility rather than exclusivity.

“We always saw KRWN, our brand and our ethos, as a brand for the people, as a company for the people,” he said.

From a single opening in Quebec City in 2014, the company has expanded across multiple regions of the province, added a tattoo operation and built a growing product line now reaching retailers provincewide. Bellemare said the strategy has evolved, but the underlying focus remains constant.

“That’s the base value for everything that we do,” he said.

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Nutrius CEO says trade uncertainty has had no impact on operations as company pushes innovation pipeline

By

Mario Toneguzzi

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March 2, 2026

Nutrius, a Canadian company specializing in personal care items, says ongoing tariff and trade uncertainty has had no effect on its business, with its chief executive arguing that existing North American trade rules continue to shield the company’s operations.

Charles Wachsberg, CEO of Nutrius, said the company’s products are fully compliant under the Canada-United States-Mexico Agreement and therefore carved out from tariff exposure.

“Nothing at all,” Wachsberg said when asked about the impact of tariff and trade uncertainty. “We are and have always been CUSMA-compliant, or USMCA-compliant, depending on which side of the border we’re on and what your vernacular is. All of our products tuck into that compliance.”

He said those products are “completely domestic to the American experience” and fall “completely outside of any tariff impact.”

Wachsberg acknowledged broader political and legal developments around tariffs but said he expects the core structure of the North American trade agreement to endure.

He noted that while a recent Supreme Court ruling has gone against tariffs, that does not eliminate the risk of new measures. Still, he argued that sweeping changes would be economically disruptive.

“This is too disruptive. It’s too impossible to contemplate unraveling,” he said. “There’s no product that is uniquely Canadian or uniquely American.”

Wachsberg said sector-specific tariffs have existed historically and may continue, but he does not see a wholesale dismantling of current trade arrangements as workable.

“I believe that CUSMA, by and large, will probably, as it should, for the benefit of both countries, exist largely in the same way it is now,” he said.

The company’s confidence in the trade framework underpins its broader growth plans, which centre on innovation and speed to market.

Wachsberg said current political rhetoric in the United States has influenced consumer sentiment in Canada, creating what he described as a “gravitas toward Canadian content.”

“Canadians obviously appreciate Americans. They appreciate the American way of life. They just don’t appreciate the current narrative,” he said, citing references to Canada as a potential 51st state or talk of annexation as examples that “cross the line.”

Support for Canadian brands

He said that shift has encouraged support for Canadian brands, particularly in categories where consumers do not have to sacrifice quality or selection.

In some sectors, he said, supporting domestic production may require trade-offs. “If you like bourbon, you’re not going to drink bourbon if you’re supporting Canada, because there is no bourbon in Canada,” he said.

By contrast, he argued that Nutrius products allow consumers to buy Canadian without compromise. The company operates with 650 employees producing goods through Apollo Health and Beauty Care, with Nutrius positioned as a core house brand.

“Canadians get to benefit from a true Canadian success story and be purchasing Canadian product, which is already recognized as being the best on a global stage,” he said.

An ecosystem of products

Wachsberg described Nutrius as an ecosystem of products offered at what he called a unique value point, supported by innovation and a 35-year corporate history.

Beyond Canada, Wachsberg said the company sees opportunity in international markets, citing preferential duty rates and Canada’s political positioning.

“We are the American lifestyle without the American politics at present,” he said.

As some countries face heightened trade barriers with the United States, he said Canada has not imposed similar restrictions, creating what he described as both a technical and social advantage for Canadian exports.

“Canadian products have always been well received. They’ve always been highly regarded and respected for their quality,” he said.

He added that Canada’s perceived neutrality on the political stage contributes to the appeal of its goods abroad.

Wachsberg framed this as an opportunity to deliver North American-style products without what he called the “overhang” of current U.S. trade realities.

Large and continuous product development pipeline

Central to the company’s growth strategy is a large and continuous product development pipeline.

Wachsberg said the company commercializes roughly 800 products a year, while experimenting with thousands of different formulations that may or may not reach market.

Products that are not immediately commercialized are stored in a library for potential future use in retail or distribution channels when market conditions shift.

“There’s always an innovation engine. There’s always a fleet-footedness to our operations,” he said.

That approach is particularly pronounced at Nutrius, which he described as an aspirational brand built on “innovation and newness and sensorial advantage.”

Speed to market and resonance with consumers are critical, he said.

“We’re always launching new. We’re always first. We’re always appreciating that speed to market and resonating with the customer public is the secret sauce in our space and perhaps in any sector class,” Wachsberg said.

He characterized that focus on rapid commercialization and responsiveness as the company’s operating ethos.

“That is the ethos of our company and, of course, the Nutrius brand,” he said.

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Why Easter and other seasonal retail items hit shelves months early now: EY Canada

By

Mario Toneguzzi

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March 2, 2026

Due to the long and rigid lead times that come with seasonal goods, it often forces retailers to place orders months in advance. In some cases, inventory arrives earlier than anticipated, especially for holidays like Easter that have a very short selling window.

Georgianna Ma, Partner, EY Canada, said when people talk about seasonal in retail, it’s a natural theme that they’re creeping in earlier.

“It’s not necessarily a new thing because the actual cycle starts way before the actual holiday hits. The ordering, the inventory, and even a lot of the planning starts months ahead. So what we typically see as consumers as too early is usually in the final steps of that process,” said Ma.

“Why does seasonal merchandise and even décor come earlier? Most of the time they’re designed, manufactured, and ordered probably six to nine months in advance. A lot of them are obviously imported from other countries, especially in Asia. So now we have to build in production time, freight time, and unexpected delays as well.

“Technically, a lot of the products actually reach the store months in advance. Most retailers are looking to either sprinkle the inventory throughout earlier and earlier, especially the ones that don’t take up a lot of space, and then really let the floodgate open by putting a lot of the bigger items on the shelves earlier.

“Part of it also helps with not storing it for a longer period of time. We don’t want overflowing warehouse spaces and in-store space, especially for bulky items. They want to make sure they don’t have to store it for a longer period of time. Sometimes they introduce smaller seasonal items earlier, and then the bigger items gradually expand as it gets closer.”

Ma said there are definitely benefits of being first to shelf.

“There’s the first-to-market advantage and a competitive element to it. When you get it on the shelf first, that early placement makes sure that you get that advantage,” she explained.

“A lot of the time you’re putting the holiday in the consumer’s mind before it even comes. It signals to them that the season is coming and that you kind of need to act on it. More and more retailers move earlier, and once competitors see others putting it on the shelf, they follow because they don’t want to lose that share.

“There’s a natural tendency where people are just pulling it forward and having that inventory earlier. They also face a cost because if you don’t put it out, there’s a cost of storing it. So they want to sell it earlier and put it on the shelf earlier. That way, you capture the revenue sooner as well.”

Ma said the longer holidays get planned and retailers have a little bit more buffer room to play with. But when you’re talking about Easter or Valentine’s Day, which are one-day holidays or only a few days, there’s even more urgency to get it out sooner. If you don’t sell it for that day, you actually have to heavily discount the product afterward.

From a merchandising perspective, getting that timing right is quite crucial. If you’re not capturing the sale before the holiday or before that couple of days, then you have to do some pretty deep markdowns afterward if you didn’t get the demand right properly, she added.

“Most of the time, when it comes to merchandising and inventory planning, depending on the specific retailer or even the subset of retail, some have a pretty good idea of what they’re going to sell anyway. Some SKUs are maybe not as replaceable,” said Ma.

“Sometimes they might have very specific SKUs where it’s less about the timeline, they have to get those specific products in. Versus others that are more interchangeable, that’s where the timeline will come into play.

“At the end of the day, they usually plan these calendars in retail months in advance. Like we said, it’s a pretty fixed calendar. Most of the time it’s a repeat. They literally have that plan and just turn it on every year at that time. So I would say it’s quite predictable.

“The only unpredictable part is the disruption that we’ve been getting. For example, the pandemic, port congestion, shipping delays, or unexpected supplier shutdowns. That’s where they would have more of what we call a just-in-case model, where we have buffer stock. If those are critical items, then you will order earlier in advance to make sure you don’t miss the window.”

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Loblaw and Flashfood helped Canadians save $58 million on groceries in 2025

By

Mario Toneguzzi

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March 2, 2026

image - 2026-01-19T112301.285 — Loblaws store. Photo: Loblaw Companies

A partnership between Loblaw and Flashfood has been successful in reducing food waste across Canada. Through the program, quality food nearing its best-before date ends up on tables instead of going to waste – creating value for customers and reducing environmental impact across hundreds of Loblaw banner stores nationwide, said the company on Monday.

In 2025, the partnership saw more than 21 million pounds of food diverted from landfill and saved customers more than $58 million on groceries. The partnership also continued to expand its reach, welcoming more than 92,000 new Flashfood shoppers nationwide, it said.

Through Flashfood, customers can save up to 50 per cent on everyday essentials. Deals span a wide range of categories, including meat, dairy, seafood, fresh produce, prepared foods and more. Purchases are completed directly in the app, with orders picked up from the designated Flashfood Zone inside participating Loblaw stores.

Since launching in 2019, the partnership has diverted more than 105 million pounds of potential food waste from landfill supporting the goal of Loblaw to send zero food to landfill by 2030.

“Reducing food waste takes practical solutions at scale – and it works best when it’s easy for our customers to take part in,” says Jonathan Carroll, SVP, Superstore Operations and enterprise champion of food waste reduction initiatives at Loblaw. “Through our partnership with Flashfood, shoppers can purchase good food at a discounted price before it goes to waste, helping keep it out of landfill while getting great value on everyday groceries.”

“Loblaw has been an exceptional collaborator from the beginning of our partnership together,” said Jordan Schenck, CEO of Flashfood. “They have consistently demonstrated industry leadership by embracing innovation that improves the lives of their shoppers. Their commitment to our shared mission has brought Flashfood to every province across the country and helped thousands of Canadians put fresh, affordable food on the table.”

First launched at Maxi grocery stores in 2019, Flashfood is available in over 900 Loblaw grocery stores and franchise locations across Canada, including select No Frills, Maxi, Real Canadian Superstore, Real Atlantic Superstore, Loblaws, Real Canadian Wholesale Club, Zehrs, Your Independent Grocer, Provigo and Dominion stores in Newfoundland and Labrador.

For all Loblaw and Flashfood partner locations, visit flashfood.com/locations/home.

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Henri sells 2 million bars across Canada in one year

By

Mario Toneguzzi

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March 2, 2026

Henri Nutrition-Henri sells 2 million bars across Canada in one — Vanessa and her son Henri (CNW Group/Henri Nutrition)

Henri Nutrition, the project of a mother and her 9-year-old son, has grown from a local startup to a national player in the healthy snack sector. The Quebec-based company now has products in 1,300 retail locations across Canada, up from just 40 this time last year. The result: two million bars sold and a tenfold increase in production capacity to meet the needs of families.

This rapid growth is driven by perfect market timing: Henri Nutrition arrives as consumers are actively seeking alternatives to ultra-processed products, with ingredients they can understand. Henri will be the first Canadian company to obtain the NON-UFP (Non-Ultraprocessed) certification, a new standard to help consumers make better choices, said the company.

Henri said its bars rely on a simple formula: a maximum of seven ingredients, no added sugar, and no priority allergens. This simplicity meets a real need in people’s daily lives, whether for lunchboxes that comply with school food policies, post-workout snacks, or busy mornings. One thing all Henri customers have in common: a refusal of ultra-processed foods without sacrificing convenience.

“Every week, we receive several messages saying our bars make daily life easier, whether for those looking for simple, allergen-free solutions or those wanting a source of protein on the go. Our bars were highly anticipated, and a year later, we can confirm they truly meet a market need. The repeat purchases speak for themselves,” said Vanessa Grondin, founder of Henri Nutrition.

For 2026, Henri Nutrition said it aims to double its number of retail locations and revenue.

“To achieve this, a move to larger premises allowing for greater automation and increased production will be necessary. The company, whose factory is based in Quebec City, will continue its expansion mainly in the rest of Canada, with a strong presence already established in several provinces. Currently, 20% of Henri Nutrition’s retail locations are outside Quebec,” it said.

In Quebec, the company added it wants to strengthen its presence in existing banners while targeting new networks, such as pharmacies, and by launching new flavours. Henri bars are available at IGA, Metro, Avril, Maxi, Marchés Tau, many independent markets, online.

Henri Nutrition has donated 22,000 bars to Moisson Québec and developed a partnership with the Pointe-de-l’Île School Board to distribute snacks in 20 underprivileged schools in Montreal. The company was born from a mother’s desire to provide her son, Henri, with a healthy and balanced snack. It is based in Quebec City.

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AI fraud hits Canadian companies’ bottom lines: KPMG

By

Mario Toneguzzi

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March 2, 2026

AI fraud is quickly emerging as a major threat to Canadian organizations, with nearly three-quarters (72 per cent) losing as much as five per cent of their annual profits to AI-driven scams last year, new research from KPMG Canada shows.

The findings underscore an increasingly complex fraud landscape as 81 per cent of businesses that experienced fraud in the past year say they faced an AI-enabled attack with seven in 10 being targeted more than once. As a result, nine in 10 (94 per cent) business leaders say they are concerned about encountering AI-powered attacks in the year ahead. Yet despite the risks, only 26 per cent have a comprehensive and tested response plan to defend against AI–enabled attacks such as deepfakes and voice clones, said the company in a report released on Monday.

“AI–powered fraud is changing the ground rules. Canadian organizations aren’t just seeing more attempted attacks – they’re more sophisticated, harder to spot and faster to execute, leaving many businesses vulnerable and unprepared to fight back,” said Myriam Duguay, Partner and National Leader of Forensic Investigation, Integrity and Dispute Services at KPMG Canada.

“Beyond the immediate financial hit, the reputational fallout from a fraud attack can be devastating. A single scam can shatter customer confidence, result in lost business, and leave lasting damage to a company’s brand. Now, with rise in AI-powered attacks that can mimic legitimate business interactions with alarming accuracy, the margin for error becomes razor-thin and having strong fraud defences is even more essential.”

The most common attacks they encountered were AI-generated phishing emails/chats (60 per cent), deepfake documents (39 per cent) and voice–clone executive impersonation calls (24 per cent), said the report.

Key poll highlights:

72 per cent say they lost between one and five per cent of their business profits to AI-powered fraud attacks in the past 12 months
81 per cent of 251 Canadian business leaders surveyed by KPMG who experienced fraud in the past 12 months say the attack was AI-enabled
72 per cent of organizations which experienced AI-enabled fraud attacks last year say they were targeted more than once
94 per cent say they are concerned about the risk of AI-powered attacks targeting their organization in the next 12 months
26 per cent say they have a formal, comprehensive and tested fraud incident response plan that explicitly covers AI-enabled attacks

As AI–enabled fraud becomes more frequent and difficult to detect, Canadian businesses are increasingly deploying AI as a defensive tool, with over half (52 per cent) saying they are directly “fighting AI with AI” by leveraging the technology to identify anomalies, authenticate users, and detect manipulated content. Recognizing the need to bolster their defences, six in 10 respondents plan to increase their fraud prevention and detection budgets by up to seven per cent this year. Further, 81 per cent of companies conduct employee fraud awareness training every six-to-12 months. Key investment areas include detection technology, employee training and transaction controls, added KPMG.

“Businesses recognize that they are facing a new reality in the fight against fraud, and they’re deploying advanced tools to keep pace with fast–moving threats,” said Marilyn Abate, a partner in KPMG Canada’s Risk Services practice who specializes in fraud and forensic investigations in the financial services industry. “While that’s a good step forward, technology alone isn’t enough. It’s not just about buying technology; it’s about equipping people to use it well, closing skills gaps, and running programs that evolve just as quickly as the threats.

“The good news is that organizations are no longer standing still – they’re starting to invest, adapt, and treat AI–enabled fraud as a strategic business risk. While momentum is building, many organizations still have significant work ahead to fully modernize and strengthen their defences against rapidly evolving AI–enabled fraud.”

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Galeries de la Capitale Adding Retail Tenants

By

Craig Patterson

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March 2, 2026

@Galeries de la Capitale_Cour centrale_1 — Galeries de la Capitale in Quebec City. Image supplied

Galeries de la Capitale is adding a wave of new retail tenants as the Quebec City shopping centre strengthens its merchandising mix. The leasing momentum includes a 36,000 square foot Winners opening March 2, alongside confirmed arrivals across fashion, beauty and quick service dining. The activity reflects sustained tenant demand at one of Eastern Canada’s most productive enclosed shopping centres and signals a strong start to the year for the Primaris REIT-owned property.

Among the most anticipated additions is lululemon, which will open a 3,750 square foot store this fall in the heart of the main mall corridor. The athletic apparel brand joins a growing roster of fashion and beauty tenants that reinforce the centre’s positioning as Quebec City’s dominant super regional retail destination.

Additional concepts will broaden the property’s merchandising mix in the months ahead. Kiokii and…, a retailer specializing in Asian inspired beauty and skincare products, is scheduled to open this fall. It will follow the April arrivals of Lovisa, café boutique Chaudron Bavard, and artisan workshop boutique Beau et Bon.

By summer, Boustan will join the quick service dining lineup, introducing its Mediterranean and Lebanese offerings to the centre.

Looking ahead to later in 2026, Les Ailes de la Mode is confirmed to occupy approximately 50,000 square feet, adding another major fashion anchor to the property and further strengthening its apparel category depth.

The wave of openings signals a particularly active start to the year for the shopping centre, with eight new retailers spanning fashion, beauty, accessories, food service and specialty concepts.

New Winners store at Galeries de la Capitale in Quebec City. Image supplied

Les Ailes de la Mode Expands Footprint with Quebec City Location

Scheduled to open this year, Les Ailes de la Mode will occupy approximately 50,000 square feet at Galeries de la Capitale, marking a step in the Quebec-based retailer’s continued expansion. The fashion banner already operates a handful of locations across Quebec, and another location is set to open at Promenades St. Bruno near Montreal, according to sources.

The Quebec City opening also follows a closely watched legal dispute involving a proposed move into the former Hudson’s Bay space at Yorkdale Shopping Centre in Toronto. That arrangement did not proceed after the Ontario Superior Court declined to approve the plan. While the Yorkdale proposal ultimately stalled, the Galeries de la Capitale lease demonstrates that Les Ailes de la Mode’s owners continue to pursue strategic growth opportunities within high-performing regional centres.

March Break Programming to Drive Traffic

The leasing activity at Galeries de la Capitale coincides with a robust March Break activation program. In partnership with Ashton, the centre will host a range of family-oriented activities in the central court, including a mechanical surf ride, creative workshops, face painting, airbrush activities and mascot appearances. Players from the Quebec Remparts hockey team are also scheduled to appear.

On March 2, the opening day of the new Winners store, stylist Mélissa Cauchon will be on site to offer personalized advice and help customers discover their ideal colour palette.

These initiatives are designed to drive traffic during a key seasonal period while reinforcing the property’s role as both a retail and entertainment destination.

Galeries-de-la-Capitale, Winners — New Winners store at Galeries-de-la-Capitale, image supplied

A Strategic Asset Within Primaris REIT’s Portfolio

The Galeries de la Capitale expansion is unfolding within the broader strategy of Primaris REIT, which acquired the property on October 1, 2024 from Oxford Properties and organization for $325 million. The transaction was completed on an unencumbered basis and funded through a mix of $170 million in cash and Primaris units.

As Quebec City’s largest shopping centre, Galeries de la Capitale spans approximately 1.3 million square feet and welcomes an estimated 9.5 million visitors annually. The property is home to more than 280 retailers and 35 restaurants. At the time of acquisition, committed occupancy stood at 98.3 percent, with annual sales reported at approximately $350 million.

Sales productivity has remained strong. As of late 2025, same store sales reached $859 per square foot, outperforming many comparable regional malls across Canada.

Entertainment Anchors Regional Draw

A defining feature of the property is its integrated entertainment component. Méga Parc, the indoor amusement park located within the mall, underwent a $52 million renovation in 2019 and features 18 rides, including the Zénith Ferris wheel and the Patinarium indoor skating trail. The property also hosts the only IMAX theatre in Quebec City.

This entertainment offering continues to differentiate the centre within the Primaris portfolio and strengthens its regional trade area.

Redevelopment and Long-Term Intensification

Primaris positions itself as Canada’s only publicly traded REIT focused exclusively on enclosed shopping centres. Since its 2021 spin off from H&R REIT, the company has acquired more than $2.4 billion in assets, including Promenades St Bruno in Montreal, Oshawa Centre in Ontario, Southgate Centre in Edmonton, CF Lime Ridge Mall in Hamilton, Halifax Shopping Centre and Conestoga Mall in Waterloo.

At Galeries de la Capitale, redevelopment opportunities remain significant. A primary focus is the lease up and repositioning of approximately 110,000 square feet of former Sears space. More broadly, Primaris is investing between $175 million and $225 million nationally to redevelop former Hudson’s Bay spaces into modern multi tenant formats, with several openings targeted for mid 2026.

The property’s location at the intersection of Highways 40 and 73, combined with its role as a major regional bus terminal serving more than 400 buses daily, enhances its long term intensification potential. The upcoming Quebec City Tramway project is expected to further strengthen accessibility and support future mixed use development on the 91 acre site.

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Kit and Ace Opens Victoria Flagship Store

By

Craig Patterson

-

March 2, 2026

Canadian technical apparel brand Kit and Ace has opened its new Victoria flagship, marking another milestone in the company’s accelerating national growth strategy. The 2,200-square-foot boutique at 1221 Government Street occupies a prominent heritage location at the intersection of Government Street and Trounce Alley, reinforcing the brand’s renewed focus on disciplined, Canada-first expansion.

The Kit and Ace Victoria store takes over roughly half of the historic space previously occupied by W&J Wilson, Victoria’s oldest continuously operating business, before its flagship closed in 2021. The move signals both a symbolic and strategic return to Vancouver Island for the brand, which has been rebuilding its physical retail footprint.

Under the ownership of Unity Brands Inc., co-founded by David Lui, Joe Mimran, and Frank Rocchetti, Kit and Ace has grown from just four stores in 2023 to 15 locations across Canada as of February 2026.

Blending Heritage With Brand Identity

CEO David Lui said the Victoria location reflects a thoughtful balance between heritage preservation and the brand’s modern identity.

“It is heritage buildings, and we honour all the guidelines,” Lui explained. “We wanted to have a bit of a blend of who we are and a blend of heritage. It may not come out in the pictures, but it’s a bit more localized, something that speaks to the community.”

The boutique follows the company’s updated retail concept, emphasizing minimalist design, high-performance fabric storytelling, and intuitive navigation intended to encourage longer dwell times. However, the Victoria execution incorporates localized elements tailored to the surrounding historic streetscape.

Lui noted that the opening generated immediate local interest. “We already had a mini lineup at the opening,” he said. “That was good to see without advertising really pushing.”

Capturing Local and Tourist Demand

The Government Street corridor is Victoria’s busiest pedestrian zone, drawing both residents and tourists throughout the year. While peak summer tourism has yet to arrive, early indicators appear positive.

“One good thing is we get to track from our e-commerce sales and guests coming into Vancouver where they’re from,” Lui said. “We have a lot of existing guests that reside in Victoria, in the mainland and the island. Of course, we expect tourism to be a big contributor over the summer.”

He added that even during the softer winter season, ferry traffic remains steady. “The ferries are quite busy too, which is good for the local economy.”

The initial customer mix reflected a broad demographic range. “You’ve got people walking by, mixed demographic, which is great to see,” Lui said. “We serve a wide range of demographics.”

Womenswear Gains Momentum

Product evolution has played a central role in the brand’s resurgence. While Kit and Ace initially built its reputation around technical fabrics and elevated essentials, recent data shows meaningful growth in womenswear.

“Women’s has been increasing in terms of overall share of incremental revenue,” Lui said. “Women’s has been around fifty-five, forty-five percent roughly. We’re attracting a lot more women, which is great.”

He added that women represent nearly three-quarters of store traffic. “That’s good because our men’s sales are very strong. It’s telling us she’s buying for him, which is good.”

The Victoria store carries a full assortment of men’s and women’s technical apparel, including the brand’s well-known Navigator pants, core essentials, French Terry pieces, and expanding sweater and outerwear programs.

“Our sweaters are very strong, both men’s and women’s, and we practically sold through,” Lui said. “So we’re increasing our sweater programs. We’ve expanded our outerwear. We have our Oslo, our legendary Oslo, but we’re expanding the range and the detail and some of the designs.”

The company is also building out its parka program for next fall. “Sweaters and outerwear will be a very key component,” he said.

Women’s pants continue to be a standout category. “In womenswear, it’s hard to find the right fit. If they find the right fit, they’re loyal. Our pants have been selling really strong.”

Fabric First, including in-home

Beyond apparel, Kit and Ace is expanding its partnership with TJX banners, including T.J. Maxx and HomeSense in the home category.

“We started some throws with them. That was a big program,” Lui said. “Then some sheets. As we continue to grow with them, you’ll see a broader range. Throws have been selling really well. Bed sheets, bedding, pillows, a pretty broad range of home.”

Lui emphasized that the extension into home remains consistent with the company’s core philosophy.

“It’s all built around what our brand stands for, fabric first,” he said. “We have a separate production team that works on all of that.”

Disciplined Expansion Across Canada

The Kit and Ace Victoria store forms part of a broader rollout planned for 2026. Lui confirmed that five or six additional Canadian openings are targeted for this year.

“After Victoria, we plan to do five or six more for this year in Canada,” he said. “We want to be up to about twenty or twenty-one stores by the end of this year.”

The Victoria opening follows a high-velocity expansion in late 2025, including the November 2025 openings of a 3,500-square-foot store at Park Royal in West Vancouver and a new boutique at CF Rideau Centre in Ottawa. Earlier that fall, the brand debuted at Bayview Village in Toronto and completed a full-scale renovation of its CF Market Mall location in Calgary in September 2025. These milestones built upon the brand’s major summer move in July 2025, when it relocated to a 4,100-square-foot flagship at the CF Toronto Eaton Centre, following successful 2025 launches at The Well in downtown Toronto and Metropolis at Metrotown in Burnaby.

“We’ve been happy with most of the new stores we’ve opened,” Lui said. “Not everyone is one hundred percent, but in most cases, yes.”

E-commerce remains an important complement to physical retail. “E-commerce has been really strong. It went down a bit and then it went back up this year. We’ve seen growth in e-commerce and growth in comp stores.”

A Broader Unity Brands Ecosystem

Lui’s leadership extends beyond Kit and Ace. Unity Brands’ portfolio includes Tilley and other retail ventures, with additional expansion underway.

“We just signed a lease for Tilley at Bayview Village,” Lui said. “We’re also opening Tilley at The Well in Toronto and in Victoria. There’s a lot happening on that side of the business as well.”

The company is also advancing franchising initiatives under other banners, underscoring a multi-brand growth trajectory.

Still, Kit and Ace remains a central pillar. The Victoria opening reinforces the brand’s recommitment to premium Canadian markets, particularly high-traffic urban corridors with strong local communities.

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AI Reshaping Canadian Consumer Shopping Journey

By

Craig Patterson

-

March 2, 2026

image - 2026-02-28T235918.749 — Consumer spending patterns are shifting with AI usage in Canada, according to Environics/RCC. Image: SmartDev

Artificial intelligence is rapidly changing how Canadians discover products, evaluate options, and make purchase decisions, according to new research presented during a recent webinar hosted by the Retail Council of Canada and Environics Analytics. The session explored how AI is already embedded across the AI consumer shopping journey, with nearly half of Canadian shoppers now using AI tools at some stage of the process.

Presenters emphasized that AI is actively influencing how consumers search, compare, and buy products today. The research suggests that retailers are entering a period where expectations are being reset by technology-enabled shoppers, particularly younger and more digitally fluent households.

AI Already Embedded Across the Shopping Journey

The presentation highlighted that AI is now present in multiple stages of the AI consumer shopping journey, from early inspiration to final purchase. According to the data, 42 per cent of consumers use AI to understand product features, compare specifications, and synthesize reviews before buying. Another 28 per cent rely on AI-powered tools to track discounts, compare offers, and identify the best prices.

This marks a shift away from the traditional linear purchase funnel. Consumers are increasingly moving in a loop where inspiration feeds research, research feeds new inspiration, and AI tools sit at the centre of that process.

Presenters also noted that AI is moving beyond traditional shopping tasks. Consumers are using it to plan meals, manage budgets, organize travel, and support health goals. As a result, retailers are no longer competing solely within product categories. They are competing for attention inside broader daily routines shaped by AI-assisted decision making.

Adoption Led by Younger, Urban, and Diverse Households

AI adoption is not evenly distributed across the population. The research shows that early adopters tend to be younger, more diverse, and concentrated in urban or suburban environments. Many are singles, couples, or diverse families who use AI to save time, manage budgets, and create more personalized experiences.

Three consumer groups were identified as leading adoption.

The first group, described as suburban sophisticates, includes higher-income, diverse households motivated by technology and aesthetics. These consumers use AI to visualize outcomes and make confident decisions around higher-value purchases, particularly in the home.

The second group, multi-generational families, uses AI primarily to find value. These households rely on AI tools to compare grocery prices, identify deals, and stretch budgets across larger families.

The third group, younger urbanites, integrates AI into everyday life. These consumers use AI for inspiration, product discovery, and decision support, shaping expectations around speed, personalization, and relevance.

Wealth and Spending Power Shifting Toward AI-Fluent Generations

The research also highlighted a demographic and economic shift that reinforces the importance of AI-driven behaviours. While baby boomers still hold a large share of national wealth, their share is declining. At the same time, Gen X, millennials, and Gen Z are gaining both wealth and spending power.

Gen X has already overtaken boomers in total consumption spending, and younger generations continue to increase their share of discretionary spending. These groups are also more comfortable using AI to research, compare, and validate purchases.

This combination of shifting wealth and changing behaviour suggests that AI-driven expectations will increasingly define the mainstream retail experience in the coming years.

Hybrid Model Emerges as Stores Remain Central

Despite rapid digital adoption, physical retail continues to dominate the final transaction. More than 80 per cent of consumers still complete purchases in store, even as AI-assisted research becomes more common.

This creates a hybrid model where AI-enhanced digital discovery shapes in-store decisions. Consumers increasingly arrive at stores with more information, clearer preferences, and stronger expectations for personalization and service.

Personalization Gap Remains Significant

One of the most striking findings from the research is the gap between consumer expectations and actual experiences.

According to the data, 71 per cent of Canadian consumers expect retailers to anticipate their needs through relevant, tailored interactions. However, only about 20 per cent feel they currently receive that level of personalization. Just nine per cent are willing to pay extra for it.

This indicates that personalization is no longer a premium feature. It has become a baseline expectation for the AI consumer shopping journey, and retailers that fail to deliver it risk losing relevance with key customer segments.

What Canadians Actually Want from AI

While the technology continues to evolve, the research suggests that Canadian consumers are looking for practical benefits rather than novelty.

The most desired uses of AI include help finding better prices, providing more effective customer service, and tools that simplify decision-making. Consumers also want AI to synthesize reviews, identify trustworthy information, and deliver curated product recommendations.

In many cases, AI is replacing premium services such as personal styling or product advice, making those experiences accessible to a wider audience.

Loyalty and Trust Still Critical

Even as AI adoption grows, loyalty dynamics are changing. Younger, AI-forward consumers are less brand loyal than older segments, but they are more likely to engage with retailers that offer personalized experiences through loyalty programs.

At the same time, privacy concerns remain a barrier. More than 30 per cent of Canadians express concerns about data protection, and a larger share worries about misuse of personal information. This creates a delicate balance for retailers, who must deliver personalization while maintaining trust.

Retailers Enter a New Competitive Landscape

The overall message from the webinar was clear. AI is not just changing how businesses operate. It is fundamentally reshaping how consumers behave.

As younger, tech-forward households gain more spending power, their expectations around speed, relevance, and personalization will increasingly define the retail landscape. Retailers that adapt to this AI consumer shopping journey will be better positioned to connect with emerging customer segments, while those that lag risk losing relevance in an increasingly personalized and AI-driven market.

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A Strategic Asset Within Primaris REIT’s Portfolio

Entertainment Anchors Regional Draw

Redevelopment and Long-Term Intensification

More from Retail Insider:

Kit and Ace Opens Victoria Flagship Store

Blending Heritage With Brand Identity

Capturing Local and Tourist Demand

Womenswear Gains Momentum

Fabric First, including in-home

Disciplined Expansion Across Canada

A Broader Unity Brands Ecosystem

More from Retail Insider:

AI Reshaping Canadian Consumer Shopping Journey

AI Already Embedded Across the Shopping Journey

Adoption Led by Younger, Urban, and Diverse Households

Wealth and Spending Power Shifting Toward AI-Fluent Generations

Hybrid Model Emerges as Stores Remain Central

Personalization Gap Remains Significant

What Canadians Actually Want from AI

Loyalty and Trust Still Critical

Retailers Enter a New Competitive Landscape

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