Experts discuss the trend and how it can bring customers into stores, as a range of smaller brands from the affordable to luxury find space within host retailers.
A former CEO of Luxottica describes a vastly changing Canadian retail landscape which includes UK-based Specsavers which grabbed 40% of Australian market share following its entry.
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.
The eyewear industry in Canada is seeing unprecedented competition according to George Minakakis, formerly of Luxottica, with new entrants grabbing market share while locals struggle.
George Minakakis says that retailers need to understand new technologies such as ChatGPT and chatbots to stay ahead as retail shifts rapidly following the pandemic.
Experts interviewed by Retail Insider say that while things are looking positive with StatCan numbers, things could get much worse for certain sectors given new fundamentals.
The experienced retail CEO talks about what retailers should be doing to survive and thrive, labour shortages in the industry, closures of businesses, whether consumers are back spending, and how retailers need to be street smart, tech driven, customer obsessed and bold innovators.
An expert says that things will likely worsen under the stress of inflation and the withdrawal of pandemic-related government support, among other factors.
A predicted retail apocalypse hasn't happened as of yet, but a series of events could lead to chaos and struggles for some retailers as we move further into 2022.
In the last decade, technology has both increased competition and become an internal transformational juggernaut to stay competitive, according to expert George Minakakis.