Canada'S Top 2 Chain Store Experts: Retail Industry Is In Transition.
According to Financial Post, Schurman group, which owns greeting card company Carlton Cards and Papyrus, announced that it will close all 76 stores in Canada and 178 stores in the United States. In addition, Canada Company, Freemark Apparel Brands Group, which operates 24 branches, also plans to close all physical stores.
Michael LeBlanc, senior retail consultant of Retail Council of Canada, Canada, pointed out that retail industry is undergoing "transformation" period, and enterprises have to "keep pace with the times". Some companies consider the physical store's influence on its brand is not large enough, and then choose the mode of cooperation with other stores, such as Carlton Cards choose to enter Shoppers Drug Mart exhibition.
The growth of online retail sales also has an impact on retail sales. Most companies estimate that Internet sales in 2019 will account for 10% of the total retail sales in Canada.
LeBlanc consultants believe that retailers do not have to panic at the same time when many chain stores are closed. Many companies choose to make the final decision after the Christmas holiday, hoping to make as much profit as possible from the peak holiday shopping season, and then announce the closure.
The Canadian shopping center study in 2019 analyzed the top 30 shopping centers in the country, and calculated productivity (productivity) based on sales per square foot. The study shows that compared to 2018, only 9 of the 30 shopping centers showed a drop in productivity. Therefore, the transformation of retail entities remains to be seen.
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