Canadian shoppers continue to attract attention from U.S. retailers in a big way.
High-end department store Nordstrom is one of the latest U.S. businesses to move into the Canadian market – and into Calgary.
Investment Advisor with TD Waterhouse David Popowich says there’s a reason why Nordstrom chose Calgary for one of the four locations.
The upscale chain puts a big focus on marketing lifestyles, not just merchandise.
Calgary’s population is booming, and wages are high, which means there’s a lot of disposable income to be spent.
“So all of these things would be data points that these U.S. retailers would look at. In particular, at the high end retailers, like a Nordstrom’s.” Popowich explains.
And Popowich says Nordstrom is only the beginning.
“I think that we’ll continue to see high-end retailers of all kinds. Calgary will be on the map now for sure.”
The new Nordstrom location will open in 2015 at Chinook Centre.
Three other locations are set to open in Vancouver, Ottawa and Toronto.
U.S. discount chain Target also has prospects north of the border. They plan to set up shop for the first time in Canada next year.
President and CEO of Cadillac Fairview John Sullivan, left, and President of Nordstrom Blake Nordstrom, right, hold symbolic keys as they announce that the U.S. retailer will open four Canadian stores during a press conference in Toronto on Thursday, September 13, 2012. THE CANADIAN PRESS/Michelle Siu
Economist says Calgary is an ideal location for high end retailer Nordstrom
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