Despite the e-commerce disruption, the retail market in Canada’s key markets is expected to remain strong through 2019.
In fact, according to Marcus & Millichap’s 2019 Retail North American Investment Forecast, downtown storefronts are proving impervious to the convenience proffered by online retail. The report notes that service-oriented businesses, like fitness and dining, are thriving.
“Visitor expenditures rose 2.4% in the third quarter of 2019, carried higher by strong domestic demand,” read the report. “Tourism spending has been a substantial driver to luxury brand expansion as visitors comprise a large portion of all high-end sales, lifting investor interest in high street assets as they are often more e-commerce resilient.”