The upscale Toronto-based grocer is already building its fourth store which will open next year. Its business model includes stocking products not found elsewhere, as well as owning the buildings where its stores operate.
Industry expert Sylvain Charlebois says retailers are missing opportunities as consumers gravitate to voice-assisted searches and other technology. Not getting on board could leave some companies in the dust.
A flood of store closing announcements this year are causing concern to the industry, while international retailers continue to enter the country seeking a piece of the pie. Despite economic and other challenges, there are bright spots.
The neighbourhood boasts Canada’s highest density of grocery retailers that are contained within blocks of the intersection of Yonge and Bloor Streets. It is seeing intense competition from new entrants as well as existing stores that are renovating and expanding.
“Grocerant,” a word combining “grocer” and “restaurant.” The term has been around for a few years, but it seems to have gone mainstream in recent months. Or at least it’s a term most of us will be hearing more often.