Could Canada Become Oversaturated With Off-Price Retailers?
Competition among Canada’s off-price retailers is growing increasingly fierce, with Saks OFF 5TH, Nordstrom Rack, Winners and Marshalls continually opening new stores. With all of this new activity, there’s a potential for market oversaturation — though according to one retail expert, this could be a trend reflecting the polarization of the Canadian retail industry.
Saks Fifth Avenue‘s off-price concept Saks OFF 5TH has already announced 14 Canadian locations, with a goal to operate about 25 stores by the end of the decade. Nordstrom Rack, which recently announced that its first Canadian store will open in 2018 in downtown Toronto, plans to open as many as 20 Canadian stores in the coming years. Homegrown Winners, now under the American TJX ownership umbrella, continues to aggressively open stores with some in close proximity — another downtown Toronto Winners store will open on August 11 at 10 Dundas Street East, within blocks of other Winners locations.
Image Source: Retail-Insider