This holiday season, shoppers can expect to see lower prices as Centretown retailers try to get customers shopping again after a tough year.
“The fear factor, the uncertainty of the recession has made people shop less or postpone major purchases despite the fact that prices are phenomenally low right now,” says Barry Nabatian, general manager of Market Research Corp.
“We are not out of the woods yet,” he says.
Wallack’s Art Supplies, for example, is opening on Boxing Day this year for the first time ever, according to Jeff Banks, the store’s retail sales manager.
Staples Business Depot on Bank Street hosted a grand "re-opening" earlier this month, offering a 10-per-cent discount on everything in the store to welcome customers back after the business took a hit during several months of construction.
Many downtown businesses continue to feel the after-effects of a series of disruptons this year – including the recession and construction on major roads.
This year’s transit strike also continues to hurt downtown businesses.
“Customers have switched their transportation habits,” says Nabatian, meaning many customers who relied on public transit to get around before the strike turned to cars and cabs instead or stayed away from certain areas completely.
However, with the official end to the recession earlier this month and the end of road closures due to construction, things are beginning to look up for retailers.
One of the reasons for optimism is the growing population of Centretown, as more people are buying property in the area, says Nabatian, which has thus increased to number of customers in the area.
A survivor of the Preston Street construction, Mina Forieri, owner of formal wear shop Vasto, says she is excited for everyone to get into the festive season.
“Everyone wants to spend more now,” she says. “I think we’re going to be OK.”
Reza Ghaffari, general manager of Canada’s Four Corners on Sparks Street, says this year’s holiday season will be better without a transit strike.
“I don’t think we’re going to have a slump compared to last year because then the bus strike began 10 days before Christmas. Being downtown that was a huge disruption for our customer base," he says
This season, however, Centretown retailers can breathe a sigh of relief as sales should go up from last year, says Nabatian.
“This year there is hope and good news. Last year, it was all bad news.”