In 2023, the Canadian retail industry adapted and shifted throughout a year of uncertainty. Major trends included growth in omni-channel, challenges with supply chain, marketplaces and inflation among other topics.
Canada also saw a number of brands enter the country through expansion and had a number of brands unexpectedly exit the market. We will be talking about the lasting impacts of 2023 for many years to come.
In 2023, Zellers relaunched, Nordstrom exited Canada, and Bed Bath & Beyond’s real estate was snapped up for new concepts. Retail leasing remained robust with shopping centres adding new tenants.
Over the course of the year, some articles published in Retail Insider saw many thousands of readers, and we’ve listed the top ones below in descending order. See them all below, starting with number 23:
23. Yorkdale Breaks Records as the Highest-Performing Shopping Centre in Canada [ICSC Study/Analysis]
The luxury-heavy Toronto shopping centre saw higher sales per square foot last year than ever, while surpassing two billion dollars in sales for the first time.
The smallest department store in the chain caters to tourists and locals in the town and had been an important retailer in Banff for over 80 years.
The 10,000 square foot premium sports-inspired dining experience celebrating the National Basketball Association will be unlike anything in the city to date, and will be within walking distance of Scotiabank Arena.
20. Yorkdale Launches Unprecedented 100,000 Square Foot Luxury Retail Expansion in Toronto [Feature/Photos]
18. Bowling and Entertainment Concept ‘The Ballroom’ to Replace Mark McEwan Grocery Store at Yonge & Bloor in Toronto [Exclusive]
15. Bed Bath & Beyond to Leave Hundreds of Thousands of Square Feet of Vacant Retail Space with Canadian Exit
New tenants will have to be found for spaces vacated by the retailer following court filings last week that will wind down the Canadian retail division.
14. Promenade Shopping Centre in Thornhill to be Redeveloped into Vibrant Urban Centre [Renderings/Exclusive Interview]
The transformational mixed-use development will include new retail to serve the area, amenities, and thousands of multi-family residences for the rapidly growing community.
Tel Aviv-based Fox Group is investing heavily into the Canadian market with other store concepts expanding that include Nike, Mango, and Laline.
11. CF Chinook Centre in Calgary to See Several Global First-to-Market Retailers Open in 2023 [Interview]
Calgary’s first Uniqlo, Nike flagship store, and Jo Malone will be among new retailers while others are expanding or relocating in the city’s top mall.
The upscale Italian brand opened three standalone locations in Canada, and locked the doors on the stores last week without any warning.
The new Zellers stores at Hudson’s Bay launch tomorrow, featuring Kmart Australia-developed brand Anko which is expanding globally after seeing commercial success in that country.
7. Royalmount in Montreal Announces more Retail Tenants Ahead of Summer 2024 Opening: Interview with Carbonleo CEO Andrew Lutfy [Exclusive]
Lutfy says that he aims to make Royalmount a world-class destination with a mix of retail, foodservice and attractions that will be unlike anything in Canada.
Following the announcement of Nordstrom’s exit from Canada, Retail Insider interviewed a panel of experts about why various retailers from the US have struggled here.
2. Salvation Army Thrift Store in Canada Faces Unprecedented Donation Slump Amid Consumer Shift [Interview]
Keep reading Retail Insider, as we’ll be reporting on Canadian retail industry stories in 2024. Let’s all have a safe and prosperous new year!