While Nordstrom and Saks Fifth Avenue have slowly been moving into Canada – Nordstrom already has 3 Canadian locations and Saks Fifth Avenue has been diligent in Canadian promotions – Holt Renfrew has been busy preparing for their arrival and the upcoming holiday season.
It has been almost a year since we first caught wind of Holt Renfrew’s plan to launch e-commerce and now, the Canadian luxury retailer’s online shop is finally live! The launch comes as a response to competitive pressures. The online shop currently offers fragrance, skin care and cosmetics and boasts over 7000 products from brands such as Charlotte Tilbury, Dior, Christian Louboutin and more for men and women. According to an article published by the Globe and Mail, Holt’s will take on more product categories in 2016.
In terms of e-commerce, Holt’s is a little late to the game. Its Canadian competitors, Hudson’s Bay, Harry Rosen, Sporting Life and Simons, all run impressive online shopping avenues, while Holt’s American competitors are slowing inching their way across the border and already run impressive online shops. It’s better late than never for Holt’s, however, as online shopping sales are expected to rise 12.3 per cent in the next 5 years, a massive growth compared to overall retail, which is only expected to grow 2.6 per cent. As Canadian cities will soon have more luxury department stores than in the U.S., it will be interesting to see if Holt’s, Canada’s dominant luxury chain, can compete under pressure.