Over the past year, like many others working within the Retail Industry in Canada, I’ve grown tired of hearing about all the bad news relative to retailers pulling out, closing down or shrinking their store counts here in Canada.
Other than one major ‘faux pas’ by a discount retailer which doesn’t need to be named yet again, the majority of recent store closures have actually been retailers dealing with unprofitable stores in their chain. And although painful for the individuals and areas where these actions happen, these steps are often necessary to keep the overall chain healthy in the long term.
The great news, and what we should be focusing on instead of the ‘doom and gloom’ of negative reports, is the growing number of new retail entries into Canada and the ongoing industry extensions taking place over the last year.