Calgary is the most optimistic market in Canada with 60 per cent of consumers stating the economy is getting better and just 17 per cent saying it is getting worse, according to the 2011 Major Market Retail Report study, conducted for the 15th year by KubasPrimedia.
The report, released Thursday, found that consumers across the country are more optimistic about the economy with 48 per cent stating the economy is getting better and only 28 per cent saying things are getting worse. “This is a stark contrast to the 2008 findings, where 44 per cent of respondents felt the economy was getting worse,” said the report.
According to a report by RBC Economics, retail sales in Alberta are forecast to grow by 6.0 per cent this year and by another 5.8 per cent in 2012 — both years leading the nation in year-over-year growth.
The MMRR report said Montreal is the most pessimistic market in Canada with 35 per cent of survey respondents saying the economy is improving and 40 per cent saying the economy is getting worse.
“Despite the increased economic optimism, we do not expect to see significant increases in consumer spending this year,” said Ed Strapagiel, executive vice-president of KubasPrimedia. “Nearly 70 per cent of consumers told us they expect their retail spending to be the same or less than in 2010.”
The survey also showed that the Apple Store is Canada’s highest-rated retailer. The other retailers rounding out the top five are Lowe’s, La Maison Simons, Jean Coutu, and Holt Renfrew. Walmart, Canadian Tire, and Shoppers Drug Mart are the three most-shopped retailers in Canada.
“The Canadian retail landscape is about to undergo a significant change with the arrival of Target in 2013,” said Strapagiel. “While MMRR found significant consumer interest in shopping at Target, the company faces two big questions as they prepare to enter the Canadian market. Can they challenge Walmart’s popularity – Walmart is the most shopped retailer in 15 of 33 product categories and the second most shopped in eight others. Or, conversely, are Walmart shoppers anxious for a new retail option?”
MMRR, based on surveys with over 1,500 Canadians in Vancouver, Edmonton, Calgary, Toronto, Ottawa, and Montreal, examines consumer behaviour in 33 product categories at 147 retailers.
“The retail spending power of consumers in this survey is impressive. We estimate the top six Canadian markets will generate a projected $223 billion in retail sales in 2011, or about 49 per cent of the national total of $460 billion,” said Strapagiel. “Despite these big numbers, retailers have to pay close attention to their competitive position in the marketplace, because retail is growing only modestly and waves of new competitors are moving in to Canada from the U.S.”
Read more: http://www.calgaryherald.com/business/Calgary+consumers+most+optimistic+country/4919136/story.html#ixzz1Ou7goNET
The report, released Thursday, found that consumers across the country are more optimistic about the economy with 48 per cent stating the economy is getting better and only 28 per cent saying things are getting worse. “This is a stark contrast to the 2008 findings, where 44 per cent of respondents felt the economy was getting worse,” said the report.
According to a report by RBC Economics, retail sales in Alberta are forecast to grow by 6.0 per cent this year and by another 5.8 per cent in 2012 — both years leading the nation in year-over-year growth.
The MMRR report said Montreal is the most pessimistic market in Canada with 35 per cent of survey respondents saying the economy is improving and 40 per cent saying the economy is getting worse.
“Despite the increased economic optimism, we do not expect to see significant increases in consumer spending this year,” said Ed Strapagiel, executive vice-president of KubasPrimedia. “Nearly 70 per cent of consumers told us they expect their retail spending to be the same or less than in 2010.”
The survey also showed that the Apple Store is Canada’s highest-rated retailer. The other retailers rounding out the top five are Lowe’s, La Maison Simons, Jean Coutu, and Holt Renfrew. Walmart, Canadian Tire, and Shoppers Drug Mart are the three most-shopped retailers in Canada.
“The Canadian retail landscape is about to undergo a significant change with the arrival of Target in 2013,” said Strapagiel. “While MMRR found significant consumer interest in shopping at Target, the company faces two big questions as they prepare to enter the Canadian market. Can they challenge Walmart’s popularity – Walmart is the most shopped retailer in 15 of 33 product categories and the second most shopped in eight others. Or, conversely, are Walmart shoppers anxious for a new retail option?”
MMRR, based on surveys with over 1,500 Canadians in Vancouver, Edmonton, Calgary, Toronto, Ottawa, and Montreal, examines consumer behaviour in 33 product categories at 147 retailers.
“The retail spending power of consumers in this survey is impressive. We estimate the top six Canadian markets will generate a projected $223 billion in retail sales in 2011, or about 49 per cent of the national total of $460 billion,” said Strapagiel. “Despite these big numbers, retailers have to pay close attention to their competitive position in the marketplace, because retail is growing only modestly and waves of new competitors are moving in to Canada from the U.S.”
Read more: http://www.calgaryherald.com/business/Calgary+consumers+most+optimistic+country/4919136/story.html#ixzz1Ou7goNET
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