Adapt or die. The retail landscape in Canada continues to change. Many products do not need to be seen or examined. Electronics, health and beauty merch, some clothing, are better bought online. It's cheaper and easier for busy people.
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2018 to mean more challenges for Canadian retailers
Sears Canada among the casualties in the Canadian retail scene in 2017
- CBC News
Shifting shopping expectations driven by demographic changes, the growing move to online consumerism, and evolving technologies will continue to shake up the Canadian retail scene in 2018, experts say.
Some in the Canadian retail sector may be forgiven if they seem glad to see the end of 2017, a year that brought upheaval and closures. The year was punctuated by the failure of Sears Canada. The department store chain sought creditor protection in June and ultimately went into a liquidation process that will see it close about 190 stores, ending the jobs of about 15,000 employees.
Another retailer, the venerable Hudson's Bay Co., is also facing challenges in today's competitive environment. The company said in June it was cutting 2,000 jobs as it restructured.
Meanwhile, moves by retail giants Walmart and Amazon continued to shake the market in Canada.
'Wake-up call'
As retailers count their take from this year's holiday shopping season, Willy Kruh, global chair for KPMG's consumer and retail practice, says he expects a "relatively reasonable" increase of five per cent in holiday sales, and healthy margins.
"I think the point is that Canadian retail needs a real wake-up call about what's coming in 2018 and in the future, based on what we are seeing today," Kruh told the CBC's Meegan Read in a recent interview.
Kruh said the most store closures on record in the U.S. was back in 2008, when they hit roughly 6,100 stores. However, this year, he said, that figure is projected to be between 8,500 and 9,000 stores.
2018 to mean more challenges for Canadian retailers | CBC News
---
2018 to mean more challenges for Canadian retailers
Sears Canada among the casualties in the Canadian retail scene in 2017
- CBC News
Shifting shopping expectations driven by demographic changes, the growing move to online consumerism, and evolving technologies will continue to shake up the Canadian retail scene in 2018, experts say.
Some in the Canadian retail sector may be forgiven if they seem glad to see the end of 2017, a year that brought upheaval and closures. The year was punctuated by the failure of Sears Canada. The department store chain sought creditor protection in June and ultimately went into a liquidation process that will see it close about 190 stores, ending the jobs of about 15,000 employees.
Another retailer, the venerable Hudson's Bay Co., is also facing challenges in today's competitive environment. The company said in June it was cutting 2,000 jobs as it restructured.
Meanwhile, moves by retail giants Walmart and Amazon continued to shake the market in Canada.
'Wake-up call'
As retailers count their take from this year's holiday shopping season, Willy Kruh, global chair for KPMG's consumer and retail practice, says he expects a "relatively reasonable" increase of five per cent in holiday sales, and healthy margins.
"I think the point is that Canadian retail needs a real wake-up call about what's coming in 2018 and in the future, based on what we are seeing today," Kruh told the CBC's Meegan Read in a recent interview.
Kruh said the most store closures on record in the U.S. was back in 2008, when they hit roughly 6,100 stores. However, this year, he said, that figure is projected to be between 8,500 and 9,000 stores.
2018 to mean more challenges for Canadian retailers | CBC News