Business

Winnipeg Free Press - PRINT EDITION

Manitoba: Retail wasteland?

Shopping space behind other cities

By: Murray McNeill

Posted: 11/20/2012 1:00 AM | Comments: 0

Mike Deal / Winnipeg Free Press A new report suggests Manitobans will spend about three per cent more this December than they did in December 2011. (MIKE DEAL / WINNIPEG FREE PRESS) Photo Store

Enlarge Image

Mike Deal / Winnipeg Free Press Manitobans are expected to spend about three per cent more in December 2012 than in December 2011. (MIKE DEAL / WINNIPEG FREE PRESS) Photo Store

Manitobans will spend more money this Christmas than in 2011, even though on a per capita basis, they have fewer places to spend it than many of their big-city counterparts, according to a new report from Colliers International.

The commercial real estate services firm said Manitobans are expected to spend about $1.67 billion this December -- about three per cent more than the $1.64 billion they spent in December 2011.

That's despite the fact Winnipeg is one of the worst-served Canadian cities when it comes to square feet of shopping mall and retail power-centre space per person, the report added. Power centres are areas with a number of big-box stores.

It said the Manitoba capital has only 10.57 square feet of shopping-mall space per person and 4.52 square feet of power-centre space. Both are third lowest among the 10 Canadian cities surveyed.

Halifax, by comparison, has nearly twice as much mall space per capita -- a country-leading 19.05 square feet. And the leader in the power-centre category -- Edmonton -- has more than twice as much per capita space as Winnipeg, at 9.66 square feet.

The only two cities with less per capita mall space are Victoria and Montreal, at 9.31 and 10.52, respectively, the report said. And for power-centre space, it's Victoria at 3.99 and Vancouver at 3.32.

But take heart, power-centre fans. A local Colliers official said our low ranking will get a big boost when the IKEA-led Seasons of Tuxedo shopping centre and several other new retail developments come on stream over the next few years.

"In 2013 and 2014, you should see us moving up quite a bit (in the power-centre rankings)," said John Prall, vice-president of retail brokerage services with Colliers' Winnipeg office.

Prall said he sees more good news than bad in the Winnipeg numbers. He noted one of the reasons our per capita numbers are lower is because Manitoba's population has been growing at a faster-than-usual rate. That bodes well for retailers and retail sales, he said.

And the fact we have a lower inventory of power-centre space means the market should have no trouble absorbing the new stores, he said, and in attracting more retailers and retail developers to the city.

Prall and James Smerdon, Colliers director of retail and consulting, also noted Manitoba is on track to finish with the fifth-strongest retail sales growth in the country for all of 2012, at a projected 4.2 per cent.

Although Alberta and Saskatchewan are looking at retail sales growth of more than six per cent this year, Smerdon said their fast-growing economies are drawing people from all over the country.

So those people end up spending their money there, rather than in their old home provinces.

"Alberta is growing at the expense of almost every other province in the country, and Manitoba is no exception," he said.

murray.mcneill@freepress.mb.ca

Republished from the Winnipeg Free Press print edition November 20, 2012 B3

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories? Please use the form below and let us know.

* Required

In which story did you find the error? *
Please post the headline of the story or the title of the video with the error.
What was the error? *
Please post exactly what was wrong with the story.
What should we have written?
Please indicate your source for the correct information.
Who else should we interview to improve this story?
Please include any contact information you may have.
Can we contact you in the future for advice on stories about this topic?
Yes

No
First Name: *
Last Name: *
E–mail Address: *
This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.
Phone: *
This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.
Colour:
Are you blue? If you can see this, leave it blank and get some CSS support.
Enter the words that you see: * This is to prevent our forms from being filled out automatically.
You have failed to correctly identify the words in the box above. Please try again.

More Business

Undock

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.