$1 B Mall, and Canada invaded by Amazon and Japanese retailers
The theme of this week in retail is that the market is booming in Canada, but that attracts foreign retailers looking for a piece of the action.
Square One Hits $1 Billion in Retail Sales.
Amazon sets sights on Canada after dominating the US.
Amazon is pushing aggressively into the Canadian market after seeing our online shopping habits haven’t changed much relative to the US. Canadians spend $730 per person per year on online purchases, while the US consumer spends $1,230. Only 7% of Canadian households are Prime (Amazon’s loyalty program) members, while 37% of US households are. US retailers were caught without adequate e-commerce systems and distribution centers, so the only question is: can Canadian retailers fare any better with the extra time to prepare?
Source: As Amazon.com Inc continues its Canadian push, retailers are being forced to step up their e-commerce game by Financial Post: Retail & Marketing
MINISO Expanding to 500 Stores in Canada.
Chinese retailer MINISO might open up to 500 stores in Canada after the success of their first store opening in Vancouver. MINISO considerers itself a ‘Japanese lifestyle brand.’ MINISO faces competition from Japanese retailers MUGI and UNIQLO who also have aggressive Canadian expansion plans after testing the market with single stores each.
Source: MINISO Launches Aggressive 500 Store Canadian Expansion by Retail Insider