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Apr 4, 2024 · The report said Canada emerged fourth among eight major countries in making retailing a simpler, friendlier and more convenient experience for consumers. “Canadian retailers are making significant strides to build bridges across multiple channels – online and bricks and mortar – to become more efficient and improve the consumer shopping ...
- Immigration and its effects on the Canadian market. Canada's newcomers have been shaping the Canadian retail market for years and will continue to do so.
- Inflation is here, so let’s beat it. Inflation has become a topic of great concern in many parts of the world and has had a disproportionate impact on the Canadian market.
- E-commerce is here to stay. The Covid-19 pandemic had a significant impact on the Canadian economy, leading to a rise in online shopping. The top three reasons for online purchases include cost/savings, shopping costs (e.g., transportation costs and time spent), and the access to a greater assortment of items.
- Focus on ethical and local sourcing and production: The preference for locally and ethically sourced products is a significant trend in the Canadian consumer market.
- Optimism Around Growth and Concern About Profits
- Strengthening Supply Chains
- The Fight For Retail Talent
- Environmental, Social and Corporate Governance
- Focus on Customers, Brand and Agility
- Overcoming Challenges
- Related Retail Insider Articles
One of the things that Deloitte uncovered within its 2022 Canadian retail outlook is the fact that executives within the country are feeling quite optimistic, even confident, about the near-term future of their companies. The survey reveals that an incredible 77 per cent expect their revenues to increase, with 93 per cent believing in their organiz...
As unsung as it may have been, escaping much of the spotlight prior to the pandemic, the supply chain is a pivotal component of the retail operation and integral to the overall customer experience. And, responses within Deloitte’s outlook reflect its importance, revealing a number of priorities for executives, including avoiding stockouts (95%), ma...
In addition to digitizing the business through automated supply chains and artificial-intelligence-aided demand forecasting, there’s also a growing need for retailers to ensure that they have the human capital required to keep the operation, and all of its bells and whistles, operating optimally. In fact, more than three-quarters (77%) of Canadian ...
Another aspect of an organization’s culture that links very closely with diversity, equity and inclusion are issues related to environmental, social and corporate governance (ESG). It’s yet another precipitation of the pandemic, one that’s rooted in the Canadian consumers’ increased focus paid toward their values and things they care most about. An...
One of the key takeaways of the COVID-19 global pandemic, as we hopefully begin to approach something of an end to its impacts, is the fact that agility within the retail business is paramount. Those that already had it baked into their operations were more easily able to adapt and pivot to evolving consumer demands and behaviour. And, those with m...
Despite the amount of disruption that’s occurred over the course of the past two-plus years, and the uncertainty that it’s created across industries and the world, Weintraub believes that the resilience of Canadian retailers will continue to serve them well, helping them withstand many of the challenges that they face. And, although he recognizes t...
Mar 7, 2024 · CBRE said elevated interest rates are having a material impact on business operations. “Coupled with a cost-of-living crisis and pullback in consumer spending, business insolvency filings started to creep up across the country in 2023, increasing over 40% from the prior year. The Federal government deadline to pay back pandemic loans happened in early 2024, the impact of which will be most ...
In fact, the connection between these two worlds is critical: today’s consumers are seeking a consistent brand experience through every possible interaction with retailers. What could that entail? For Canadian retailers, the future of customer experience (CX) will be rooted entirely in hyper personalization and conveniences that extend beyond traditional shopping experiences.
Sep 3, 2024 · Canadian consumers increasingly expect customer experiences that are equally frictionless and trustworthy. Retailers who meet this expectation can set themselves apart in the market. Collaborating across internal teams and departments empowers you to create a safe customer-centric customer experience.
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Jun 21, 2023 · This year, at the Retail Council of Canada’s (RCC) STORE Conference, we explored the key trends currently shaping the retail landscape. From leveraging changing consumer behaviors to harnessing data, and embracing new technologies, retailers are adapting to meet the demands of today's consumers. The 2023 RCC STORE Conference, held in Toronto ...
