April 27th, 2012Canada’s Shopping Hordes Attract American Retailers
Sales per square foot at shopping malls in Canada were almost 50 per cent higher than they were in the United States in 2011, with higher-than-average consumer spending in Alberta and Saskatchewan.
Canada still has a far lower retail square footage per capita than the U.S. market, making it a ripe growth opportunity for U.S. retailers and international property developers alike, according to the 2012 Spring Retail Report from Colliers International, released Thursday.
“In the Greater Toronto area we are seeing significant outlet-centre development underway and in Calgary there are millions of square feet of retail development underway,” said James Smerdon, director of retail and consulting at Colliers and co-author of the report. “I think the gap between American and Canadian retail productivity is probably as wide now as it is ever going to be.”Continue Reading »