Vancouver’s retail scene is taking on a major transformation with many new malls launching construction in 2017 along with a slew of new retailers. With the city considering these developments as “public realm improvements,” communities will be welcoming an onslaught of major retailers.
These developments will open doors for the luxury market as well as put them front and centre for consumers to see. This will encourage consumers to step foot into stores that may have only been an online presence to them, giving them the opportunity to see first-hand why the luxury market speaks to them.
However, the U.S. government is lobbying Canada to match the $800 duty-free limit that American consumers have when making online purchases from Canadian companies. Currently, Canadian consumers can only spend $20 before qualifying for duties.
With these changes, consumers will be encouraged to buy items that they may have been hesitant to purchase before, and is expected to increase sales once construction is complete.
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
