"No question" laundered money is being spent in stores: retail insider (BIV Today No. 267)
On BIV Today...
Money laundering, luxury retail and banning single-use plastics. On BIV Today, Retail Insider’s Craig Patterson reviews the latest trends and stories from Canada’s retail sector.
In this episode, Patterson discusses how retailers and consumers are adapting their behaviour to reduce their use of plastic, ahead of a potential federal ban of certain items.
Just as more consumers are looking to leave a smaller environmental footprint, more Canadians are choosing to shop online. Patterson discusses why Canadian e-commerce is booming.
Also growing at a fast clip in Canada is the China-owned lifestyle brand Miniso. The retailer has 50 stores in the country and counting, and has just launched a new $10-store concept.
Luxury Italian jeweller Pomelatto has closed its shop in Vancouver’s CF Pacific Centre, which was its only Canadian location. Patterson reflects on why.
He and host Hayley Woodin also discuss how B.C.’s money laundering crackdown could more broadly affect the province’s luxury retail market. (Read the BIV article on the same topic here.)