06/25/2025
B.C. retail remains resilient despite ongoing disruption.
HBC’s demise, new market entrants, tech adoption, 'Buy Canadian' efforts among key shifts.
The collapse of Hudson’s Bay Co. (HBC) has raised larger questions about the future of retail real estate in B.C.
Experts say HBC’s demise may be a harbinger for traditional department stores in Canada, though retail could rebound with a “Buy Canadian” movement, cashier-less technology, new market entrants and evolving consumer behaviours.
Amid the disruption, retail real estate remains important, said David Ian Gray, principal of Port Moody-based retail consultancy DIG360 Consulting Ltd.
“The idea that the store is dead is totally nonsensical. There are always going to be exceptions, but generally speaking in retail, the store is incredibly important for sales [and] it remains so,” he said.
Still, HBC was too fixated on its real estate holdings at the expense of innovation, Gray said.
“The ownership of Hudson’s Bay Company, and many other malls, were not retailers. They were very savvy real estate investors whose unstated mission was really to extend the life of some real estate holdings as long as possible,” he said.
By embracing entrepreneurial thinking, Gray said B.C. retailers can attract more foot traffic, helping their stores remain a key part of the customer journey. This means taking risks, and integrating physical and digital platforms.
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Daniela Peeva, LLB, BA.
Vice President, Financing.
Broker License #13234
M: 416 879 7404
Peakhill Capital.
