To gain a better understanding of the retail and commercial activity in the Toronto area, two different types of retail will be evaluated in the following report. The character, market orientation and location of a retail space all play crucial role in contributing to the success of the business. All three aspects of the retail spheres will be carefully assessed in order to make direct comparisons between the two types of retail businesses. The two retail systems that will be contrasted includes the ancillary retail system in downtown Toronto and the Retail Strip on Spadina, south of Baldwin.
Part A – Ancillary Retail (First Canadian Place) The ancillary retail system in downtown Toronto is one of the most unique retail systems in
This retail space is considered to be public as the entire business strip is not managed or controlled as a whole by any rules and regulations. And most evidently, the retail strip itself is located on a public street. It is possible that the city planners may have designed the street and the retail area to accommodate for the needs of the surrounding residential area. However, the actual stores and their specific styles and characteristics that each retail business offers are mainly unplanned (there might be some planned aspects). In the pedestrian count that was conducted during lunch time (around 1:30pm), a total of 327 pedestrians were counted during the 15-minute count. Chinatown is geared toward the market segment of low to mid-income individuals. Thus, most of the pedestrians are dressed in casual wear and jackets (Note: stores are located outside – winter period). The majority of consumers in this retail strip are Asians who speak Cantonese or mandarin and large portion of them are seniors.
Part C – Compare and Contrast After careful analysis of the above two retail spaces, many similarities and differences can be drawn. First and foremost, both business entities consist of multiple retail stores that offer a vast variety of goods and services. This allows customers to have and opportunity to be exposed to a great selection of goods and services, and also creates convenience for the shoppers.