Changing Retail Landscape

11 July 2017
REMAX Realtron Realty Inc

Realtron Commercial Blog

"Your #1 source for Toronto Commercial Real Estate Information"

Growth of e-commerce not slowing brick-and-mortar

Written by Richard Crenian, Founder and President of ReDev Properties Ltd.

The growth in online purchasing is real and now represents close to 10% of the overall purchases made in parts of Canada, like in Alberta. However, the growth in e-commerce isn’t turning out to be the threat everyone expected for brick-and-mortar retail.

Canadians continue to embrace shopping in physical stores and enjoys the engagement, especially when it comes to personal treatments and customer services. However, one of the biggest transformations we’re seeing for shopping centres is that it’s becoming unofficial community centres for neighbourhoods offering social sanctuary for all ages.

While retail continues to draw visitors, it’s no longer the primary motivation. Visitors are increasingly seeking shopping centres to provide an additional level of experience. Many lifestyle services such as restaurants, health care services and fitness centers and spas continues to gain popularity. While other leisure and entertainment features such as arcades, indoor waterparks and skating rinks are becoming trendier and even the norm for shopping centres.

In fact, we’re seeing the new digitally-enabled shopping experience becoming a popular way to connect brick-and-mortar with e-commerce. Technology allows retails to extend their relationship with customers well before and after the physical visit. They can further engage with consumers on multiple levels and increase the chances of their return to shopping centres.

Retail is undoubtedly changing dramatically, but physical brick-and-mortar centres is proving it is remaining a central role in society, especially within suburban neighbourhoods. 

Blog post written by Richard Crenian

Richard Crenian  Bio:

Richard Crenian is the founder and president of ReDev Properties Ltd. Since founding in 2001, Richard and ReDev Properties have grown the asset management company using a long-term approach to manage over 30 commercial properties, primarily located in Western Canada. Catching the entrepreneurial bug in his early twenties, Richard established a real estate development company based out of Saskatchewan, Canada. Specializing in the construction of multi-family residential rental buildings, the company went on to build over 11,000 apartments and condos, as well as numerous retail plazas. Sales achieved from this company reached over $1 billion dollars. Richard is devoted to sharing his experiences and helping to nurture the next generation of great minds. He is a founding member and mentor of the Young Entrepreneurs Organization in Saskatchewan and is an active participate with the Next36.

Contact information:

Richard Crenian  rcrenian@gmail.com / 415-225-5700