Who would have ever thought that Canada would have the busiest shopping mall in North America? Surprising right? But it’s a fact that the famous Eaton Center in Toronto has become the busiest mall in both the U.S and Canada and in 2015 received over 49 million visitors.
Reports from the Retail Council of Canada shows that in many important areas, Canadian malls are taking the lead ahead of their U.S. match.
Canadian malls including those in Vancouver, Edmonton and Montreal have also taken top positions in the list of busiest malls in Canada and the U.S.
Many might wonder why shopping malls in Canada are now becoming the busiest even though those in the U.S. have larger spaces. In 2015 Canadian shopping malls made $744 per square foot of $562 in U.S. dollars, whereas the U.S. made $466.
This figure does not answer the question why Canadian malls are surpassing their U.S. counterpart given the fact that they have smaller mall spaces. There are speculations that even though Canadian malls have smaller spaces, they are efficient in their service provision or they pay more for products in than in the U.S.
But there are other reasons why Canadian malls are making a hit. Online shopping has had a significant influence on shopping malls than expected.
U.S. shoppers according to data have given in to online shopping compared to those in Canada. For shoppers that still prefer the traditional way of doing their shopping, Canada is still the place to have the experience.
Online shopping in the U.S. has become the trend amongst shopper leaving malls to feel the pinch.
But although Canada has taken the victory for having the busiest shopping malls, the U.S.‘s malls for the rich and tourist is not match for those in Canada. The Bal Harbor Shops complex in the Miami area which is the U.S. highest earning mall has a higher earning rate than any mall in Canada.