article by Retail Pro, Apr 30, 2024

The retail landscape continues to evolve: big retailers are simultaneously expanding and contracting, and malls are examining their place among consumers. Somewhat paradoxically, customers seem to be gravitating toward smaller, more curated experiences from well known and respected brand names.Operational shifts and expansion like this requires flexibility and a broad network from a point of sale software system.

Retail Pro is an ideal partner for such moves, with Retail Pro Prism’s flexibility and partners spanning the US as well as across the world. While a significant — and growing — number of sales are made online, brick-and-mortar shopping continues to appeal to shoppers, especially those who have immediate needs, or want to inspect a product before buying.

article by Retail Insider, Apr 25, 2024

February retail sales continued on a path of growth in Canada with All Stores growing 4.4% YOY. Discretionary spend grew to a similar extent with All Stores Less Automotive, Food, and Pharmacies up 4.5% YOY in February.

2024’s Valentine’s Day, as with previous years, has an impact on February’s retail sales. However, with continuous inflation in 2024, it was likely that sales would be impacted. RCC performed a study for 2024 Valentine’s Day, with some notable results for those taking part in the occasion:

article by RSPA, Apr 25, 2024

The Wait is Over: RetailNOW 2024 Returns to Las Vegas!

The retail IT channel’s #1 trade show, education conference, and networking event is making its long-awaited return to the strip after a seven-year hiatus. RSPA is thrilled to host RetailNOW 2024 July 28-30 at the Paris Hotel in Las Vegas. 

RetailNOW will bring together leaders, innovators, and channel players to develop relationships necessary for any successful business within the restaurant, retail, grocery, and cannabis verticals. The diversity of attendees and exhibitors allows for the very best in education, thought leadership, and product availability.  

article by Retail Insider, Apr 23, 2024

There is increased demand for retail space in Edmonton amid slowing retail sales, according to the latest Edmonton Retail Insight Spring 2024 report by commercial real estate firm JLL.

The Edmonton retail leasing market is experiencing increased net absorption and consistent leasing volumes and major international retailers, particularly in the athletic, fashion, and luxury sectors, are actively expanding their presence in the market, it said, adding that Edmonton’s consumer spending remains robust, suggesting that growth is still expected in the retail sector this year.

article by Retail Insider, Apr 18, 2024

In a rapidly changing retail environment, understanding consumer preferences and behaviours is key to success. Sander Meijers, Adyen’s manager in Canada, discusses insights from the newly released Canadian Consumer Report, which includes a detailed analysis of consumer shopping habits, expectations, and current trends. 

Based on a survey of 2,000 Canadian consumers and 500 businesses, it reveals new information on Buy Now, Pay Later options, different payment methods, and a demand for faster, technology-driven shopping experiences, especially regarding self checkouts. 

article by Retail Insider, Apr 16, 2024

Sustained demand and decreasing availability are driving Calgary’s retail leasing market, according to a recent report from commercial real estate firm JLL.

The report, Calgary Retail Insight Spring 2024, said Calgary’s retail leasing market remains strong, with steady leasing volume and decreasing availability due to high demand and limited supply.

article by RSPA, Apr 10, 2024

I just returned from my third Restaurants Canada (RC) Show, held April 8-10 at the Enercare Centre in Toronto, which provided me with a perspective of the Canadian restaurant market across the past three years:

• 2022 = Crawl: Surviving restauranteurs, bruised and battered, were finally beginning to emerge from COVID
• 2023 = Walk: While the U.S. was back near a pre-COVID brisk pace, the Canadian restaurant market was still playing catchup and nursing persistent wounds
• 2024 = Run, but with a slight limp: RC Show 2024 boasted the largest expo hall and strongest attendance I’ve seen to date, but many at the event were still not hitting full stride yet

article by Retail Insider, Apr 10, 2024

As Canada welcomes an increasing number of diverse immigrants each year, retailers are urged to adapt to be inclusive. Ian Large, the executive vice president of Leger, discusses the challenges newcomers face, the impact on retail, and retail strategies coming from the first ever study: Cracking the Newcomer Code.

The report by Leger, which surveyed over two thousand recent immigrants, explores how newcomers are reshaping retail trends, from their immediate needs upon arrival, to their growing influence on the Canadian retail landscape. Leger is a national research and marketing company and has been around for about 37 years and has offices across Canada. The study was subdivided by those who have been here for less than five years and those who have been here from six to ten years.

article by RCC, Apr 2, 2024

What drives over 300 retail loss prevention experts from across North America to meet in one location? The answer: The 2024 Retail Secure Conference. Hosted by the Retail Council of Canada (RCC) on March 21, 2024, in Mississauga, Ontario, this event was a defining moment in our joint efforts against retail crime. As RCC’s Loss Prevention Advisory Committee Chair and Regional Loss Prevention Business Partner at Giant Tiger, I felt a surge of energy and commitment from my peers, all determined to address the retail sector’s changing challenges.

article by Retail Insider, Apr 2, 2024

The new master-planned community Galleria on the Park, at Dupont and Dufferin in Toronto, is ideally located in an area currently experiencing a major development boom, which is being accelerated by this massive project.

The development, by Almadev, will consist of eight buildings totalling 2,956 residential units and 279,000 square feet of commercial space. It will also have an eight-acre public park and a 95,000-square-foot community centre.

article by Retail Dive, Mar 26, 2024

TikTok is back in the hot seat — not that it ever really left — again facing threats of a nationwide ban in the U.S. under a proposed bill now in the hands of the Senate. The bill, which would force a sale of the app if it wishes to remain in the region, raises questions of how an evolving social media landscape could play into TikTok’s fate and what the impact may be for marketers.

article by Retail Insider, Mar 26, 2024

A new report by Equifax Canada indicates insolvencies are rising in the country amid mounting financial stress on Canadian businesses.

And the Canada Emergency Business Account (CEBA) loan repayment has added to that financial burden. 

“Canadian businesses are facing a perfect storm of economic pressures,” said Jeff Brown, Head of Commercial Solutions for Equifax Canada.

article by Retail Insider, Mar 25, 2024

Despite the endless variety of retail options catering to adults, the younger demographic – especially those under 13 years-old – are highly undervalued. Lisa Hutcheson, a retail strategist and managing partner at J.C Williams Group, offers insights on missed opportunities, challenges, improvements, and new concepts and innovations such as merging toys and apparel. Currently, families are dealing with lack of quality, affordability, and diverse options – often ending with a frustrating shopping experience. 

article by Retail Dive, Mar 25, 2024

In the retail industry, high turnover and low-profit margins create fierce competition and significant challenges as an employer.     

On top of the administrative tasks that keep your organization running smoothly behind the scenes, you’re competing against a growing number of businesses and the gig economy for workers, not to mention juggling schedules and managing the challenges of seasonality. While you’re striving to build a collaborative culture and develop employees with limited budgets and time constraints, you’re also navigating compliance and labor laws.  

article by Retail Insider, Mar 24, 2024

January kicked off with stronger growth than December for Canadian retail sales, growing 2.9% YOY for All Stores. Discretionary spending grew to a similar degree, increasing 2.7% YOY for All Stores Less Automotive, Food, and Pharmacies. The year-to-date sales grew in 2023 over 2022 to 2.1% and 0.4% respectively.

article by Retail Dive, Mar 21, 2024

The ICSC’s survey adds to the evidence that e-commerce means higher levels of returns.

A great majority of consumers who purposely over-order online are shopping for apparel: 87% of those surveyed said they order extra items to try on at home and return what they don’t want. Some retailers are instructing shoppers to keep items they want to return, with six in 10 survey respondents saying that retailers had given them full refunds and told them to keep their unwanted online purchases.

article by Retail Insider, Mar 20, 2024

Pinterest is showcasing its newest and enhanced performance capabilities benefitting retailers. The platform has been expanding its functionality to make shopping an integrated part of the tailored customer experience. And get this: early results showed that the enhanced suite of lower funnel solutions drove a +90% increase in traffic1 and 28% more conversions2.

article by RCC, Mar 19, 2024

The Competition Bureau Canada’s recent release (March 4, 2024) calls attention to the alarming rise of AI in fraud. In the past decade, Canadian fraud cases have soared from 79,000 to 150,000, a testament to fraudsters’ growing adeptness, aided by AI technology. AI is being exploited to craft convincing fake texts, emails, voice messages, and visuals, often impersonating reputable brands.

article by Retail Insider, Mar 17, 2024

In its latest Toronto Retail Insight, Spring 2024, commercial real estate firm JLL predicts a softer and more stable Toronto retail market this year.

The report said Toronto’s retail leasing market is stabilizing with a deceleration of rental growth. Limited leasing options and economic uncertainty are challenges for retailers, but demand for retail space exceeds supply. Overall retail sales have plateaued, but food services and certain retail sectors show growth, including shoes, health and personal care, and sporting goods.

article by NRF, Mar 14, 2024

The banking industry will be in Washington, D.C., next week for its annual policy summit. Discussion points for the program may include topics such as how to grow its nearly 31% average profit margin (the highest of all U.S. industries) or how to deal with the numerous regulatory penalties levied against it.

The Credit Card Competition Act is certain to be on the agenda. The bill has clearly drawn the ire of the nation’s largest banks and payment networks, as they’ve spent $51 million to lobby against credit card reform. As they add more to that total when they take to Capitol Hill next week, U.S. businesses and consumers continue to feel the pain of a system that maximizes the profits of large financial institutions.

article by Retail Insider, Mar 11, 2024

Rising rents and a downtown recovery are fueling Vancouver’s retail market, says commercial real estate firm JLL.

“The Vancouver retail market is seeing increased demand even with economic uncertainty. Limited availability and rising rents are driving retailers to secure leases quickly,” said the company’s Vancouver Retail Insight, Spring 2024, report.

“Although retail sales have decelerated, some growth is expected in 2024, supported by a growing local tech sector and resilient consumer spending.

article by RSPA, May 7, 2024

In an era dominated by technology, businesses must adapt to shifting consumer preferences, especially when it comes to payment methods. From Apple watches to Venmo, mobile payments offer a combination of convenience, safety, and security that’s unrivaled by most other payment methods.

article by Retail Insider, Mar 4, 2024

As loyalty programs continue to rise in popularity, do they really meet consumer expectations? Jean-Pierre Lacroix, president of SLD, and Matthew Wilson, a communications expert at SLD, take a deeper look into the current state of loyalty programs, challenges, premium programs, and potential trends.

article by Wealth Professional, Feb 29, 2024

Working out the pros and cons of artificial intelligence can be daunting, but investors want to know how it’s being used by the companies they invest in and the risks.

A new report from the Responsible Investment Association published today (Feb. 29) highlights the concerns that retail investors have about AI with 79% saying it’s important that their portfolio companies identity and mitigate potential risks and 74% wanting information about how companies are using and investing in it.

article by Retail Insider, Feb 28, 2024

Canadian retailers and brands have a remarkable opportunity to sell to consumers in China, which has a population of more than 1.4 billion people and a middle class that spends on international goods. China is the world’s largest online consumer market with nearly 50% of global transactions, creating a great opportunity for Canadian businesses. 

article by Retail Insider, Feb 25 2024

2023 Canadian retail sales ended in a lackluster way, growing only 0.9% YOY for All Stores in December. Discretionary spending decreased in December, decreasing -1.0% YOY for All Stores Less Automotive, Food, and Pharmacies. The year-to-date sales grew in 2023 over 2022 to 2.1% and 0.4% respectively. The economic conditions in December were not ideal considering inflation remained high, and there were numerous layoffs announced at the end of the year.

article by NRF, Feb 22, 2024

A trio of charismatic and insightful thought leaders shared their thoughts on what’s to come during NRF 2024: Retail’s Big Show, highlighting trends as diverse as consumer guardianship, function versus vibe in a physical store, and the need to be age-agnostic when it comes to products and services.

article by RCC, Feb 21, 2024

The Consumer Price Index (CPI) rose 2.9% on a year-over-year basis in January, following a 3.4% gain in December. The largest contributor to headline deceleration was lower year-over-year prices for gasoline in January (-4.0%) compared with December (+1.4%). 

Price growth for food purchased from stores slowed year over year in January (+3.4%) compared with December (+4.7%), putting downward pressure on the all-items CPI.  

article by RCC, Feb 21, 2024

This Friday, February 23, 2024 representatives from Public Safety Canada will be presenting to RCC’s Responsible Sourcing Committee on the requirements of the new Supply Chains Act (formerly Bill S-211). 

Under the new law, medium and large businesses are required to issue annual reports on what actions they are taking to reduce the risk of child and forced labour in their supply chains.  In December 2023, Public Safety Canada issued Guidance on compliance and the first reports are due by May 31, 2024. 

article by Retail Insider, Feb 15 ,2024

The Canadian retail sector in 2024 is a page out of a Charles Dickens novel where we had the best of times with robust consumer real estate construction and leasing activity with new retail brands expanding in the Canadian market along with sales surges in the luxury and value sectors, says Michael Kehoe, Broker/Owner of Fairfield Commercial Real Estate in Calgary.

article by Retail Insider, Feb 14, 2024

One thing Ottawa-based Lee Valley Tools has focused on over the years has been elevating the consumer experience.

It’s what the brand has become known for in the marketplace. And recently the retailer was recognized as the top retailer in Ontario with the annual WOW In-Store study, published by Leger.

Jason Tasse, President and Chief Operating Officer, said the company is exploring pop-up locations as well as a full store in Toronto as it expands its brand in Canada.

article by RCC, Feb 13, 2024

The Canadian Sustainability Standards Board (CSSB) will be issuing proposals for its first standards, the Canadian Sustainability Disclosure Standards (CSDS) regarding climate-related disclosures and disclosure of sustainability-related financial information. The CSDS will be based on the International Sustainability Standards Board (ISSB) standards which were issued in June 2023 but will be modified in a Canadian context.

article by Retail Insider, Feb 13, 2024

Retail is seeing a growing concern of burnout among store managers due to operational pressures and the need for empathetic leadership. Miriam Feldman, a partner at fishRecruit for digital and retail practices, and Jeff Wahl, retail consultant at The Architect, share insights of retail burnout among managers. Here they dive into the issues, repercussions, and strategies.

article by Retail Insider, Feb 11, 2024

Canadian business and consumer insolvencies are surging these days across the country as people continue to try to cope with rising costs and rising inflation.Citing data from the Office of the Superintendent of Bankruptcy (OSB), the Canadian Association of Insolvency and Restructuring Professionals (CAIRP) said business insolvencies in Canada surged by 41.4 per cent in 2023 compared to the previous year, the sharpest increase in 36 years of records from the Office.

article by NRF, Feb 7, 2024

If NRF 2024: Retail’s Big Show was any indication, the retail industry believes AI stands for “all in.”

With more than a dozen AI-specific exhibitors in the Innovation Lab and many more throughout the Expo, dedicated AI sessions, and statements from executives in sessions, artificial intelligence was a constant topic throughout the show. Many noted that the technology had gone beyond hype to include practical use cases and game-changing opportunities in areas such as personalization, shopper behavior, sales and service, training and talent development, operations and more.

article by Retail Insider, Feb 6, 2024

Vancouver is poised for outstanding growth over the next five years which is good news for retailers already there and those who want to join the burgeoning market.

The latest Vancouver Urban Retail Report, by real estate firm JLL, said the growth will be driven by impressive gains in population, GDP, and employment rate − all of which exceed the national average.