Downtown shops feeling economic pinch
Posted Jan 29, 2016 5:30 pm.
This article is more than 5 years old.
Malls in Calgary’s downtown core are feeling the brunt of the economic downturn.
According to the Calgary Downtown Association, stores have experienced a five per cent decrease in overall traffic and sales on average, with certain luxury stores seeing a higher percentage drop.
Maggie Schofield with the association told 660 NEWS businesses in the malls are working hard to keep things positive.
“Optimistic is probably a strong word,” she said. “I think most of the retailers are hoping to hold their own this year, and to just make it through.”
“So I wouldn’t call it optimistic, but they’re very committed to sticking it out.”
She added not all retailers have experienced a drop in sales.
“Places like the food courts, which some people don’t think about as retail, but they very much are a key part to retail in the downtown, they seem to be holding their own in almost all cases,” Schofield said.
Most of the numbers come from the holiday season, but Schofield believes the downward trend will continue for some time.
