VANCOUVER (NEWS1130) – With the decision by Target to pull the plug on its operations in Canada, do other big name US-based retailers moving here have anything to worry about?
Ian David Grey, a consultant with DIG 360 says Target is a great example of how not to do things but Nordstrom, which is building a flagship store at the old Sears location in Pacific Centre in downtown Vancouver, seems to be on the right track.
“They have already been coming into Canada a lot more carefully than Target did and I have a lot of respect for how they make decisions.”
Grey explains people from the Seattle-based retailer have spent time here getting a good sense of the Canadian market but he warns with chains like Saks Fifth Avenue preparing to set up shop in Metro Vancouver, they all can’t win. “You know, there is not enough spending to go around and our economy is in a low growth phase.”
He adds there is no guarantee the retailers will be as successful in Canada as they are in the US.