Welcome to the third, of our four part series on Canada's Changing Retail Environment. We will be exploring the current trends in marketing and development for retail and how these changes are affecting Canada and Manitoba. In part one, we addressed How Retail is Changing and in part two we discussed how those changes are Shaping Development.
Retail is changing due to the internet and development is being shaped through innovation and experience.
Across Canada there have been many openings and closures of retail and food establishments. New retailers to Canada include Nordstrom and Saks Fifth Avenue while some well know retailers such as Future Shop, Danier and Quiznos have closed up shop.
One of the most infamous closures is Target. Target ventured into Canada and opened 133 stores. All of the locations closed in 2015, leaving 17,000,000+ square feet to be absorbed.
The chart below illustrates how the National retail vacancy rates for Super Regional, Regional, Community Centre and Neighborhood were comparable in December 2012 and December 2013.
Check back next week for the final installment of the Canada's Changing Retail Environment series, How Retail is Changing in Manitoba.
Sandy G. Shindleman
President & CEO
