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Learn moreMar 2021
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Apparel and footwear specialist retailers faced several headwinds in 2020, including a declining consumer interest in once popular fast fashion and mid-market brands, closing down of shopping malls during COVID-19 as well as the decreasing consumer purchasing power due to higher unemployment rates. Store closures across multiple brands also continued to close, partially as a result of higher rents and also due to intensified competition, as many brands of apparel and footwear specialist retailers have entered the Canadian market over the course of recent years, necessitating a change in strategy for many existing retailers.
In 2020, brick-and-mortar stores continued to suffer in a challenging retailing environment, a situation that got worse after the outbreak of COVID-19. Some large retailers restructured their businesses by shutting down stores and switching focus to e-commerce.
Another retailer that announced plans to close numerous outlets in Canada in 2020 was L Brands, parent company of the US-based lingerie and fashion retailer Victoria’s Secret, following a temporary shutdown brought about by the COVID-19 lockdown. In May 2020 L Brands revealed its decision to substantially reduce its Canadian store count by permanently shuttering nearly 35% of its Canadian network, or 13 of Victoria’s Secret’s 38 Canadian stores, as well as one Bath & Body Works location in the country.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Clothing and Footwear Specialist Retailers industry in Canada with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Clothing and Footwear Specialist Retailers industry in Canada, our research will save you time and money while empowering you to make informed, profitable decisions.
The Clothing and Footwear Specialist Retailers in Canada market research report includes:
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This industry report originates from Passport, our Retailing market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.