The northernmost city in North America with a CMA population over one million, Edmonton hosts 6.3 million visitors each year, contributing to a lively retail scene. The market is influenced by the oil and gas industry as Edmonton serves as the gateway to the prominent production fields of Northern Alberta. However, it’s retail economy is diverse enough to be resilient in the face of economic headwinds.
With an estimated average annual household income of $104,113 (2015), a growing population and spending rates well above Canada’s average, Edmonton is a dynamic market filled with a variety of retail opportunities. Known as Canada’s Festival City, Edmonton hosts numerous festivals throughout the year and attracts tourists from around the world. This creates a festive, inviting atmosphere ripe for shopping and dining. Revitalization projects across the city, including Roger’s Place arena, a revamped library, and the Royal Alberta Museum in Edmonton’s cultural district are bringing vibrancy to streets all around Edmonton.
The future for new retail opportunities in Edmonton is bright. New shopping centres across Edmonton are being developed, soon to be connected by new LRT lines carrying tens of thousands of passengers. Those heading downtown will enjoy the newly renovated City Centre Mall, a new arena and casino, and new projects in The Quarters just getting underway. Four of Edmonton’s existing enclosed malls are set to undergo construction in 2017. The completion of the Anthony Henday ring road makes commuting from Edmonton’s bedroom communities easy, with thousands of vehicles entering Edmonton daily.
DOWNTOWNDowntown Edmonton is undergoing a major revival with a series of major projects underway, including the renovation of the 812,142 square foot City Centre Mall. The recent completion of Roger’s Arena in Edmonton’s “Ice District” and the revamping of downtown’s cultural centres is drawing people downtown and new retail opportunities with them.
WHYTE AVENUE (OLD STRATHCONA)With over 600 businesses, Whyte Avenue boasts a vast array of trendy boutiques, cafes, bistros, and clubs. Whyte Avenue has been named one of Canada's ten best shopping districts and features as one of Cushman and Wakefield’s “Cool Streets.”
SOUTH EDMONTON COMMONSouth Edmonton Common is located in one of Edmonton's highest traffic areas. It is classified as North America's largest open-air retail development spread over 320 acres with 2.3 million square feet of gross leasable space.
OLIVEROliver, located adjacent to Downtown, is the densest neighbourhood within Alberta. Boasting some of the city’s more unique stores, Oliver is known for it’s dining scene, bars, vibrant nightlife, and newly renovated retail centers, replacing the old railways that once ran through this part of the city.
|KEY AREAS / STREETS/SHOPPING CENTERS||CONSUMER PROFILE||MAJOR RETAILERS PRESENT||NEW ENTRANTS||TYPICAL RENT FOR UNIT OF 2,000 SQFT||RANGE OF UNIT SIZES|
|Downtown||Tourists, Commuters||Coles, Club Monaco, Hudson’s Bay, Tip Top Tailors, Winners||Rexall, Cineplex, Several financial outfits||$40-$50/sqft||1,000-8,000 sqft|
|Whyte Avenue||Hipsters, Trendsetters, University Students||Chapters, American Apparel, Lululemon, Le Chateau||Several local boutiques||$35-$45/sqft||1,000-5,000 sqft|
|South Edmonton Common||Mass Market, Suburbanites||Best Buy, IKEA, Canadian Tire, Lowe’s, Superstore||Saks OFF 5th, MEC, The Rec Room||$42-$46/sqft||1,000-10,000+ sqft|
|Oliver||University Students, Young Professionals||MEC, Safeway, London Drugs, Staples||CityMarket, Goodlife Fitness||$40-$50/sqft||1,000-10,000 sqft|
Data as of October 2016
Edmonton’s dining scene is made up of over 2000 restaurants and dining establishments ranging from national chains to local eatery’s. Recent trends in the market include the rapid emergence of gourmet burger chains and frozen yogurt shops around the city, as well as a recent increase in bars, microbreweries, and food and drink establishments offering unique experiences.
|KEY AREAS||CONSUMER PROFILE||FOOD & BEVERAGE OPERATORS INCLUDING||RENT FOR 3,500 SQFT UNIT|
|Downtown||Tourists, Commuters, Young Professionals||All Ranges||$40-$50/sqft|
|Whyte Avenue||Students and Young Professionals||Mid-Range||$35-$45/sqft|
|South Edmonton Common||Mass Market, Suburbanites||Low-Range||$42-$46/sqft|
|Oliver||University Students, Younf Professionals, Mass Market||Mid- to High-Range||$40-$50/sqft|
Data as of October 2016