Canada being eyed as strong market for retail growth
Many nations throughout the world were hit hard during the economic recession of the past few years. However, as conditions continue to improve around the globe, businesses that experienced a downturn are now putting more effort into enhancing their operations. For the retail industry, this means merchants are expanding into new markets, and one such region that is getting more attention from these companies is Canada.
According to CNBC, only just a few short years ago, Canada was considered by global merchants to be too small of a market in which to expand, but now this opinion has drastically changed. The source explained that now, Canada is seen as a particularly strong region for retail growth, as consumers throughout the nation have a limited amount of shopping options. For example, big-name brands such as Target and Wal-Mart have opened storefronts in Canadian cities.
But these kinds of retailers are not the only ones launching new storefronts in the Canadian market, the source stated. Luxury and high-end merchants like Nordstrom and Saks currently have or plan to have locations in cities across the nation to spur growth.
For brands that are expanding into new markets, whether domestic or foreign, having a solid retail management software solution in place ensures that operations remain as streamlined as possible.
