Retail
The retail business is developing at a consistent rate. The retail area is building up its fundamental establishments regardless of all difficulties. The pandemic created a huge shift to e-commerce retail and the trends in retail led to sellers bringing about significant changes in their strategies for marketing and merchandising. The global retail segment is predicted to grow at a CAGR of 6.3% reaching a total of $39,933 billion by 2030.
The Canada retail sector and its opportunities
Apart from being one of the world’s biggest countries, Canada comprises of a functioning and moderate buyer market which is great for the retail businesses. There are a lot of opportunities and huge potential in the retail segment in Canada. In August 2021, the retail sales in Canada grew 8.40 percent as compared to previous year. Some of the of the top retailers who are successfully growing are Apparels, footwear, jewelry, home decor, beauty care products, and kitchen items. In terms of real estate investments in retail, investors will continue to benefit from low-cost financing for the foreseeable future. Canada's retail market is viewed as more open to European organizations mainly because of the Comprehensive Economic and Trade Agreement (CETA), which is a trade agreement between Canada and the EU.
Retail industry in the United States
The Retail Trade industry market size in the U.S. has been valued at $5.4trn in 2021 and is expected to grow at 4.1% in 2022. The United States has strong distribution channels for a wide range of retail organizations. The retail industry provides a competitive setting that encourages strong business operations and innovation, leading to an increase in efficiency and reliability. Consumer spending is predicted to increase, offering a potential opportunity for investments in the industry. Existing players are already seeing sales growth in their recent quarters and have increased their projections. Overall the North American market provides great opportunity for setting up an existing international business or buying a new one to cater to the millions of potential consumers in a particular segment.
How Prescott & Lynn can add value?
While Canada and U.S. retail markets seem positive in many ways, there are some challenges that one may face when entering the retail industry in a new country. For instance, a foreign brand has to face tough competition against well-established and popular brands in the market and there is a negative effect of retail consumption due the inflating housing market in top Canadian cities like Toronto and Vancouver. Prescott & Lynn is well-equipped to help companies in dealing with such challenges and our extensive network across pre-expansion and post-expansion business activities position us well to deal with all our client’s corporate settlement needs. We can help you not only with a smooth immigration process but also to connect your business to local resources, industry support networks, and market insight to gear up for success in the new location.