Retail Downsizing and Upsizing: Target Not the Only Store Making Changes in Canada
Earlier this year we spoke at length about Target Canada’s choice to pull the plug on its Canadian operations, and the many impacts this had for the brand. But Target isn’t the only company to be making changes within their organizational structure – a whole host of parent companies have made the decision to downsize in recent months.
At the beginning of the year, several companies, including Sears, Mexx Canada, and Sony, announced plans to downsize. The latest in the long line of companies include the parent company for retailers Ricki’s, Bootlegger and Cleo. Back in March, Canadian Business had this to say: Ontario-based Comark Inc, “The company behind Ricki’s, Bootlegger and Cleo plans to close stores and cut jobs as part of a restructuring after obtaining court protection from creditors.”
You can check out the full article about this downsizing move here: http://www.canadianbusiness.com/business-news/rickis-bootlegger-cleo-fashion-stores-downsizing-under-court-protection/.
Does that mean the trend is just about downsizing? No. While some stores are making moves to decrease their footprint, others are increasing their square footage to meet rising demands. This includes those stores, such as Amazon, that are making the move to physical locations, having previously only sold online.
When it comes to rightsizing – whether you are downsizing or upsizing – there are few to things to keep in mind to mitigate any unforeseen consequences. The right people support, a strategy for in-store set-up and planogram compliance can all make a big difference with regard to customer satisfaction and therefore brand loyalty and brand perspective.
Downsizing? Upsizing? When it comes to rightsizing, Marketsupport can help. We can offer the tools that give you the ability to properly manage the process. Call us today at 1-877-421-5081.« Back to Blog