A Good Year for Canadian Shopping Centers in 2017

Major investments in recent years are starting to pay off in Canadian shopping centers. The retail giants continue to outperform their US counterparts despite significant challenges.

With the rapid growth of e-commerce, shopping centers need to use new strategies to attract consumers. In recent years, significant changes have been made: investments in aesthetics and logistics to increase the level of consumer comfort, investments in entertainment (shows, art exhibits and children’s attractions) to improve the overall experience and even investments in housing, office spaces and hotels to increase the density around shopping centers. These changes, combined with a record year with 50 new international retailers moving to Canada, have allowed the industry giants to grow significantly in 2017.

This growth is also accompanied by negative points. Several shopping centers that have not yet recovered from Target’s closure in 2015 will have even more unoccupied space with the closure of Sears in early 2018. Most of the new international retailers being small players, many spaces for newcomers remains available. This is a growth opportunity for many retailers, but still a major concern for Canadian shopping centers.

Bibliography

Shaw, H. (2018, janvier 2). Transformation over turmoil: Why reports of traditional retail’s imminent death may be premature. Consulté 19 janvier 2018, à l’adresse http://business.financialpost.com/news/retail-marketing/transformation-over-turmoil-why-reports-of-traditional-retails-imminent-death-may-be-premature

Shaw, H. (2018, janvier 3). Record number of international retailers set up shop in Canada in 2017 — but with a much smaller footprint. Consulté 19 janvier 2018, à l’adresse http://business.financialpost.com/news/retail-marketing/record-number-of-international-retailers-set-up-shop-in-canada-in-2017-but-with-a-much-smaller-footprint

McLean, S. (2018, janvier 9). 2017 a strong year for Canadian shopping centres. Consulté 19 janvier 2018, à l’adresse https://renx.ca/2017-strong-year-canadian-shopping-centres/

Sagan, A. (2017, octobre 9). Pop-up shops: retail’s latest strategy for catering to millennial shoppers. Consulté 19 janvier 2018, à l’adresse http://www.cbc.ca/news/business/pop-up-shops-retail-1.4346501

 

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