It's not always easy to predict which companies will succeed in Canada's retail landscape, but those that are able to innovate and bring customers new experiences are most likely to succeed, according to one analyst.
Analyst Doug Stephens gave CTV's Canada AM a rundown of his retail “winners,” and how they're distinguishing themselves in a crowded market. Here are some of his picks:
Frank & Oak
Montreal-based men's retailer Frank & Oak started online and have now opened a small number of stores in Vancouver, Toronto and Montreal.
But rather than a traditional bricks-and-mortar store, the company offers shoppers more of a "club house" experience, with men's barbershops and cafes on site.
"They're really great places where you can go and figure out your style, and what looks good on you," Stephens said. "And then you can order either in-store or online. They've really done a good job at reinventing how retail is done."
Simons
The 175-year-old department store brand is expanding across the country, opening another eight stores over the next few years.
Stephens said the department store offers a great mix of products and a "cool" in-store atmosphere.
"I think we need a shake-up in the department store category, especially in the rest of Canada where it's only been The Bay and Sears," he said. "I think they're going to do well."
Starbucks
Stephens gives the coffee giant credit for "hanging in" and finding new ways to keep customers lining up.
Recently the company announced plans to offer customers new products, including beer and wine in certain stores.
"They're talking about delivering coffee… they've done a really good job, whenever we think it's over for them, they reinvent themselves," he said.
Nordstrom
The high-end U.S. department store is already operating in Calgary and Ottawa , and has plans to open locations across the country.
Nordstrom is renowned globally for its service, but also for its innovation, Stephens said.
"They're a very traditional company that looks at things unconventionally," he said. "They're looking at things like technology, experimenting with things like mobile commerce."
