globe retail outlook data

 

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Canada

Canada has long been a competitive retail market with a combination of both domestic and well-established American retailers present. International brands continue to expand and find success as well, with more than 30 retailers debuting each year in Canada since 2014. Recent major headwinds have been reshaping the retail landscape, including retail turnover, shifting consumer behaviours and an increased propensity toward technology, however, despite all this Canada experienced a banner year in 2017 in which consumer confidence, retail sales growth and the level of unemployment posted record rates.

Toronto leads the Canadian retail market with several major shopping centres and a very vibrant downtown. Different nationalities are represented in various parts of the city, which offer a unique shopping experience. Other major Canadian retail markets include Montreal and Vancouver, which have grown in popularity as a destination for luxury retailers. In these major cities, there is a combination of high street as well as suburban shopping centres.

New supply continues to enter the Canadian market with approximately 3.8 million sq. ft. scheduled to be delivered in 2018, mostly be in the form of mixed-use urban infill projects. Retailers are targeting these locations in order to be close to consumers and access the growing downtown population. Not to be out-done, large regional malls have been renovated in recent years and continue to appeal to retailers. With over $5.0 billion dollars of investment and counting going into premier regional malls since 2015, these centres have been at the forefront of retailer demand.

High-end retailers traditionally located on Canada’s high streets have also begun to look toward the increased luxury of super-regional shopping centres like Yorkdale Mall in Toronto and CF Pacific Centre in Vancouver. With changing market and consumer dynamics, the tenant mix along high streets has begun to evolve to include more experiential retailers and high-end entertainment. A lower Canadian dollar has also been an added bonus for retail destinations located close to the border, especially centres like the McArthurGlen Designer Outlet at Vancouver Airport which was named the world’s best outlet centre in 2015, and is currently undergoing a 150,000 sq. ft. expansion.

Our Top Tip For
New Arrivals

Canadians have been influenced historically by British, French and American cultures, but have developed their own unique qualities including a passion for hockey and talking about the weather. Do not be surprised if you hear "eh?" used instead of "pardon?" or "why?".

Currency

Canadian Dollar (CAD)
EUR €0.63
USD $0.78
GBP £0.55

Language

English and French
Hello: Hi or Bonjour
Thank you: Thanks or Merci

International Dialing Code

+1

Time Zone

GMT -3:30 to -8

Cost of a Pair of Jeans

100.00 CAD

Cost of a Cup of Coffee

4.00 CAD

Cities in Canada

Contact Us

Mark E. Renzoni
1021 West Hastings St., Suite 2500
Vancouver, BC V6E 0C3
+1 604 662 5180 | mark.renzoni@cbre.com