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The past few years have been quite challenging for some Saskatchewan malls and shopping centers. The rise of E-commerce retailers and online shopping, in general, has evidently caused a decrease in foot traffic and a relatively significant drop in profits.
Luckily, there’s a silver lining. Many of Saskatchewan’s most prominent malls are adapting to the changing trends and are quickly becoming consumer hotpots once again. If you have an interest in Canadian retail and commercial real estate, this might just be the right time for investing.
New Types of Stores Opening up Across Canada’s Malls
As one door closes, another one opens. And while some of the biggest tenants are leaving Saskatchewan malls, Regina’s Cornwall is set to become the home for many renowned brands. Urban Planet, Ardene, and Eclipse are just some of the newcomers in this downtown mall.
When it comes to shoe and apparel stores they might be the minority in the malls of the future; however, expect to see an increase in the number of medical offices across Canada’s malls.
Dentists, optometrists, private general practitioners, and more are expected to set up shop in malls in Saskatchewan, Alberta, Ontario, and other provinces. Even more so as events like global pandemics and the normal flu season and other diseases continue to occur.
Experience-Based Malls Are Here to Stay
Besides medical offices, Canada’s malls will boast a few more types of businesses. The malls that thrive and survive are those that don’t just offer shopping, but those that offer experiences.