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December 2016 CANADIAN SHOPPING CENTRE STUDY DECEMBER 2016 In partnership with Developed by In partnership with design with retail soul CANADIAN SHOPPING CENTRE STUDY CF Rideau Centre Ottawa, ON An extensive four-level renovation and expansion propelled the property as the region’s primary fashion shopping destination. Signature geometric architectural forms TABLE OF CONTENTS and organic shapes create a dynamic and contemporary aesthetic. The new Dining Hall 1. Introduction .................................................................................................................................................................................. 3 elevates the overall customer experience and extends dwell time. 2. Executive Summary .................................................................................................................................................... 5 3. Top Malls in Canada and United States by Sales Per Square Foot a. Top 30 Most Productive Malls in Canada by Sales Per Square Foot ......................................................................................................................6 b. Top 10 Most Productive Malls in the United States by Sales Per Square Foot ......................................................................................................9 4. Top 10 Largest Malls in Canada and the United States by Square Foot a. Top 10 Largest Malls in Canada ........................................................................................................................... 10 b. Top 10 Largest Malls in the United States ................................................................................................ 10 5. Top 10 Busiest Malls in Canada and the United States by Annual Pedestrian Count The CORE a. Top 10 Busiest Malls in Canada ............................................................................................................................. Calgary, AB 12 b. Top 10 Busiest Malls in the United States ................................................................................................. 12 Calgary’s premiere downtown shopping destination was redeveloped into an urban 6. Canadian Regional Analysis streetscape beneath an expansive skylight a. Vancouver/Lower Mainland, British Columbia ....................................................................................16 linking three city blocks in the central business b. Calgary, Alberta .................................................................................................................................................................... district. The project’s vision was centred upon 22 celebrating the dramatic downtown skyline c. Edmonton, Alberta ........................................................................................................................................................... 26 by “bringing it indoors” through unobstructed d. Winnipeg, Manitoba ........................................................................................................................................................30 vistas to it from all levels of the complex. This e. Greater Toronto Area, Ontario ............................................................................................................................ 34 project, along with its world-class retailers, f. Hamilton/St. Catharines/Niagara, Ontario ............................................................................................ 42 enclosed urban park, and food court, has g. Ottawa/Capital Region ................................................................................................................................................44 revitalized the downtown core keeping it h. Montréal, Québec............................................................................................................................................................... 48 vibrant after office hours. i. Québec City, Québec .................................................................................................................................................... 54 j. Maritime Provinces ........................................................................................................................................................... 56 7. Top Shopping Mall Trends ...........................................................................................................................58 8. Conclusion...................................................................................................................................................................................61 let’s talk retail design! www.ghadesing.com · [email protected] · 1.844.843.5812 programing & planning · concept & schematic design · design development · design technical drawings · construction coordination · brand graphics CANADIAN SHOPPING CENTRE STUDY, 2016 II © Retail Council of Canada 2016. All rights reserved. © Retail Council of Canada 2016. All rights reserved. 1 CANADIAN SHOPPING CENTRE STUDY, 2016 1 1. INTRODUCTION WELCOME FROM DIANE J. BRISEBOIS, PRESIDENT AND CHIEF EXECUTIVE OFFICER, RETAIL COUNCIL OF CANADA Shopping centres are communities. Their potential to Microsoft is attract visitors impacts the growth and success of our retailers across Canada. Presenting three of the critical metrics retailers use to understand how shopping centres committed to rank is therefore critical and has never before been consolidated in one study in Canada. Retail Council of Canada and Microsoft are pleased to be able to provide you helping retailers with this data as well as with an analysis of the study’s findings. The study examines Canadian malls on ranking metrics including productivity, in Canada thrive size and visitors as well as provides a comparison to top U.S. properties. This groundbreaking Canadian Shopping Centre Study also shows that expansions and major renovations continue to be at the forefront of shopping Our focus is to enable retailers to embrace centre development. Those capital investments and new innovative services digital transformation and deliver personal, have helped shopping centres maintain growth in spite of an increasing seamless, and differentiated experiences to their propensity for online shopping. customers. We empower retailers by providing To access more of Retail Council of Canada’s resources, we encourage solutions that capture insights and drive growth. you to join the association. Membership information can be found at We are proud to partner with the Retail Council RetailCouncil.org/join-today. of Canada to provide you this informative and Kind regards, insightful Canadian Shopping Centre Study. Diane J. Brisebois ABOUT THE STUDY AUTHOR Craig Patterson is a retail analyst and founder of the leading Canadian retail industry news publication, Retail Insider. He holds Bachelor of Commerce and Bachelor of Law degrees from the University of Alberta, and is also the head of research at the University of Alberta School of Retailing. He has been studying the retail industry for over 25 years and has a keen interest in shopping centre real estate. CANADIAN SHOPPING CENTRE STUDY, 2016 2 © Retail Council of Canada 2016. All rights reserved. © Retail Council of Canada 2016. All rights reserved. 3 CANADIAN SHOPPING CENTRE STUDY, 2016 2 2. EXECUTIVE SUMMARY This study is the first of its kind in Canada to analyze Canada’s top malls based primarily on productivity, size, and pedestrian counts. It also provides an analysis of data comparing top centres in Canada to those in the United States. It then examines 10 Canadian regions based on demographics and provides information on top centres as well as highlights local facts about each region and its malls. Specific mall data was collected directly from landlords while reference data was collected from several sources as noted. Canadian mall productivity numbers were collected for the 12-month period ending August 31, 2016 and pedestrian counts were also measured over a period of 12 months. KEY OBSERVATIONS The overriding finding was that Canada’s malls are, on average, more productive than those in the United States. While there are a handful of U.S. centers that beat Canada’s top performers, Canada’s top malls are as busy as the leading U.S. malls. OTHER FINDINGS INCLUDED: • Malls are in the ‘entertainment industry’. • Pop-up/curated retail is increasing. • Landlords are increasing investments in • Online retailers are opening bricks and renovations and expansions. mortar stores in malls. • Shopping centres are enhancing their • Luxury stores and aspirational retailers food & beverage options. are increasingly joining other retailers in malls. • Consumer comfort while shopping is a priority for landlords. • Off-price retailers are also moving into malls. • New large-format anchors continue Crafting authentic and meaningful experiences for great retailers. Designstead understands retail. to be added to shopping centres • More outlet malls/’hybrid’ outlet centres in Canada. are opening up in Canada. DISCLAIMER: Information in this study is collated from industry data and from noted participants. Retail Council of Canada, to the fullest extent permitted by law, makes no warranty (express, implied or otherwise), or assumes any legal liability or responsibility for the accuracy, completeness, reliability and usefulness of this information. Some opinions in this report are based on current market trends and may be subject to change. 215 Ossington Ave
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