What is the state of retail convenience in Canada?
The Retail Space Strategy Council of Canada suggests that Canadians are becoming “less satisfied with what they have.” The CRED Analytics report says that Canadians are satisfied with their shopping experiences at six out of seven stores. However, the retail industry is not sharing this positive outlook in its report. In fact, Canadians are becoming dissatisfied by their shopping experiences at just three out of seven stores. This is a pretty significant finding.
Canadians are also getting less satisfaction with service at seven out of seven retail locations. Surprisingly, the report finds that Canadians have an “increasingly negative” view of their retailers. This is much worse than the report from the American Retail Opportunity Research Institute, which found that Canadians have a “positive” impression of their retailers. The difference is that the ROCI report found that these perceptions are negative for all retailers.
What does this all mean for the state of retail convenience in Canada? If consumers do not have confidence in the retail environment, it means retail stores will not be as profitable or successful as they should be. Canadians do not have faith in large corporations, like Walmart. Their buying patterns indicate that they don’t trust larger retail stores.
Many retail experts believe that the reason Canadians have such a “positive” view of their retailers is because they have access to multiple sources of income. The report indicates that Canadians have become increasingly reliant on employment in the oil and gas sector to earn a living. Employment in the oil and gas sector typically pays well and provides excellent benefits. With a lack of investment opportunities in traditional retail, Canadians have opted for retail convenience stores. Although the retail situation in Canada is not perfect, Canadians have more options than ever before.
In order to understand the state of retail convenience in Canada you must look beyond the surface. Consumers are becoming less willing to make impulse purchases. Studies show that the increased interest in social media sites like Twitter has contributed to the decrease in retail purchases. People are choosing to share what they’re looking at in magazines or newspapers rather than walking into a store to purchase what they’re interested in. Instead of the typical fast food style hamburger, Canadians are opting for sit-down meals. People are also taking their lunch outside of the home instead of going to a restaurant.
This can be good news for Canadians who wish to take advantage of increased sales and services. The recent downturn in the Canadian economy has made it necessary for consumers to look for ways to save money wherever they can. Online shopping is one of the best ways to save money when shopping for products or services in the Canadian retail convenience stores. With a wide selection of quality products offered by reputable companies including brands that are known throughout the United States and Europe, Canadians can find the products that are right for them without having to drive too far.