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Some retailers, like Aritzia, survived early pandemic closures, but some did not. Credit: istock/ Margarita-Young
What’s new or upcoming in the retail market? Andrea Fletcher, RI, of Lee & Associates provides a snapshot.
- Penguin Pickup is a retail outlet for the online shopper to pick up their goods in a secure environment, offering a free, convenient one-stop pickup for consumer purchases. The Vancouver market is on Penguin Pickup’s radar as the company seeks locations in high-density neighborhoods.
- Amazon wants to expand into the bricks and mortar of retailing. Their large capital investment will provide the capacity to develop their new vision of retailing.
- A notable new retail cluster has emerged in the ethnic grocery chain category. It’s a natural evolution of the insatiable West Coast appetite for specialty at-home dinners and includes the likes of Fujiya, Hannam Supermarket, H-Mart, Bosa Foods, Sabzi Mandi, Cioffi’s, Galloway’s, and Sungiven Foods. Now add Persia Foods, which has both a larger format grocery store and a new restaurant taking over the former Boston Pizza on Marine Drive in North Vancouver.
- The food hall is a relatively new phenomenon in Canada attracting the culinary foodie. Vancouver will soon have its own food hall concept occupying 26,000 square feet of the 185,000-square-foot retail footprint in Quadreal’s The Post on West Georgia Street, providing a unique and festive culinary experience. One operator will be running the entire 26,000 square feet of various food offerings.
- The revitalization of the suburban mall will introduce a new shopping experience to the mall shopper. The Amazing Brentwood in Burnaby is approximately 90% leased with tenants open for business to entice the returning customer. Lansdowne Centre Mall in Richmond will be one of the largest redevelopment projects: 50 acres along No. 3 Road will soon be a community where people will live, work, and play while enjoying a wide variety of shops, restaurants, and services, surrounded by 22 residential towers plus two office towers.
- Also in malls, pop-up stores or flash retailing is a growing movement that takes advantage of faddish trends and provides physical access for the entrepreneur to test the consumer response to their product or service. The pop-up store may be an ideal platform to migrate into a permanent brick-and-mortar location. Today, landlords see the benefit of a pop-up business as an opportunity to add to the mall’s retail mix as well as occupy vacant space in the development.
|Download Fall 2021|
Read more about the Vancouver retail market in “Vancouver Retail Market Update” in the Fall 2021 edition of Input. Download Fall 2021
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