This week marks some major changes in the Canadian retail landscape. The week kicked off with Loblaw’s announcement of its planned takeover of Shoppers Drug Mart. Loblaw’s past sales struggles are well documented, and the company is now jockeying for market position among the large U.S. retailers like Walmart and Target.
The second announcement came with the news that Honest Ed’s, the historic bargain retailer in downtown Toronto, is up for sale. Having grown up in the this neighbourhood where I still live today, Honest Ed’s has always been a part of my life. I popped into Ed’s recently, after not having set foot in the store in two decades. It was exactly the same as it has always been. But Ed Mirvish himself passed away six years ago, and the store sits on a massive chunk of prime Toronto real estate. One long-time local resident said he was “shocked” at the news that Ed’s was on the block. But after 65 years in business, can we really be shocked?
Will the merging of Loblaw’s and Shoppers Drug Mart change the way we shop and impact our choices? Will the closing of Honest Ed’s, the one-of-a-kind retail landmark, change the uniqueness of the its downtown Toronto neighbourhood? Probably. Now we might be able to buy dresses at the drug store too.
Everything has a beginning and an end. What do you think? Is change good?
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