Markham Retail Shopping Scene
Ravenshoe Packaging is located in Markham, Ontario on the northeast side of the GTA region. It’s an exciting, modern area headed for rapid growth and expansion. On previous posts I discussed Markham’s growth projections and with large residential and commercial projects in the works, Markham will become one of the most vibrant cities in Canada.
Markham is in a unique situation where it has room to grow, excellent infrastructure, and a desire to be leading edge in civic infrastructure. A pro-business spirit has allowed it to become “Canada’s High-Tech Capital” and it has the highest number of high tech firms setting roots in the GTA.
And a new commercial and residential development by the Remington Group (in Markham) called DOWNTOWN Markham, will be one of the most modern of any in North America. And the design is also at the forefront of any new civic economic development trends and a good model for any municipality seeking ideas for modern economic development. This project is massive at 243 acres with a whopping $3 to 4 billion budget. It’ll be rolled out in 4 separate phases.
The retail scene in Markham is very healthy and about to get more competitive.
Figure 1 Downtown Markham Property at August 2011
The new Downtown Markham is a residential, commercial and parkland development that will offer the ultimate in retail shopping. Elegant upscale restaurants, omni-present artwork, and integrated parkland will give visitors a pleasurable time. Discover more details about the project at the Remington Group Website.
It’s a completely new development built on section of property wedged between highways 7 and 407. A new rapid transit system is being built along highway 7 to improve access to the retail shops here. It’s one more reason why large US retailers will be eager to get into the Ontario market where retail productivity is very high.
This new, completely planned development integrates millions of square feet of residential, retail, and office properties. A new aquatic centre built for the 2015 Pan Am Games is adjacent to the development. Altogether, the complete DownTown Markham development and other nearby developments will create a very unique setting for the retailers who are already opening their doors to the public. Downtown Markham is to be built in several phases. See the infographic at the bottom of this post.
Add to that, a professional sports arena is also in the works, to be built here, however there are plenty of political hurdles to overcome in it being approved and built. The latest news about this new NHL multipurpose arena is here.
Canada has significantly less mall space than the US, and Canada’s economy has fared well after the recession. That’s why our revenue per square foot is much higher. And that’s attracting big US retail chains. Many like Target, Home Depot, and Costco are already here in a big way. More are planning their entry.
Markham ranked 3rd highest in growth for Canadian cities over 300,000 population. Markham’s population grew 2.9% or 40,000 (from 261,573 to 301,709) in a 5 year period. And the most recent retail sales stats show Markham is also 3rd in Canada for growth in per capita spending, ahead of oil rich Edmonton and Calgary.
Within 30km, Markham and area shoppers are served by a multitude of retail plazas and these major malls:
- Markville Mall
- Pacific Mall
- Fairview Mall
- Pickering Town Centre
- Scarborough Town Centre
- Hillcrest Mall
- CentrePoint Mall
This New Retail Centre Has a Lot Going for It
The new Downtown Markham retail centre will give shoppers another option and in a designed retail, residential, commercial and office space that offers what these other malls can’t deliver. Markham businesses are already affected by e-commerce and m-commerce which is eating away at their bottom line.
These more progressive companies are more likely to build new retail and e-commerce websites to give them an edge on their brick and mortar competitors. Click to brick is the trend now. Markham has state-of-the-art multiple fibre-optic lines integrated into a national and global network and is very Internet friendly.
But competition is coming from outside Markham. That’s another reason why Downtown Markham is one of the best concepts to ensure local retailers will stay in business. This new shopping mecca will provide an experience that online retailers can’t. And nearby shopping centres will find some of their shoppers deciding to shop in Markham, at least once a month. That represents a significant amount of new revenue.
With the retail sector showing some signs of instability, these new projects help to encourage foreign investment (which has fallen dramatically of late) and keep small cities like Markham thriving.
Markham has some interesting economic dynamics and it really is worth watching and studying. Visit the new Downtownmarkham.ca website and download their brochure.
Learn more about shopper marketing and how the customer experience at point of purchase is critical to sales and even brand value.
Why not review how effective your POP materials are? Temporary displays work very well. Why, because promotions can be kept fresh, draw attention, and generate sales. Don’t let your POP campaigns go stagnant. New, fresh and creative is how successful manufacturers are getting an edge at retail.
Check out some interesting facts about Downtown Markham in this infographic below: