Mon Dec. 26 2011 6:48:12 AM | The Canadian PressTORONTO —
The influx of U.S. and foreign chains to Canada shows no sign of slowing as we head into a new year.
Marshalls, Express and Topshop were some of the retailers that opened up shop in Canada in 2011.
Another U.S. company appears poised to launch.
Catherine Fisher of Ann Incorporated, the parent company of Ann Taylor and Loft, says a formal announcement hasn't been made.
But she says they're "actively pursuing entry into the Canadian market" expected for late in 2012.
And U.S. discount giant Target is set to enter the Canadian market in 2013.
Daniel Baer of Ernst and Young says Canadian retailers will need to exploit their knowledge of the consumer and use the fact that they're homegrown to their competitive advantage.
He also notes companies won't just be battling for dollars.
Baer foresees more competition for retail talent like personnel to fill management and head office positions.
Kathy Perotta of The NPD Group says Canadian retailers need to work towards keeping -- and growing -- their existing share of the pie.
She says the total apparel and basics market is worth roughly 23.3 billion dollars, so new entrants to Canada are going to take their share from somebody.
http://www.cp24.com/servlet/an/local/CTVNews/20111226/121226_retail_US_Canada/20111226/?hub=CP24Home
1 comment:
An increasing amount of foreign chains have been moving to Canada with no sign of slowing down. Marshalls, Express, and Topshop have already opened their doors in 2011. Catherine Fisher of Ann Incorporated plans to enter Canadian markets in 2012, and Target is set to enter in 2013. These retailers will be taking a piece of a $23.3 billion industry. Increase in foreign chains will create an investment in Canadian human resources as they hire workers. Competition to find retail talent to fill management and head office positions will be created. These industries will create jobs and boost tax revenues through the investment in Canadian markets and human resources.
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