Retail Gap Analysis Results Released

Posted On Monday August 19, 2019

In May of this year The City of Fort Saskatchewan hired Key Planning Strategies, Colliers International and Keyfax Market Research to conduct a city-wide retail market and gap analysis. A consumer intercept survey in May allowed residents to provide their insights on retail shopping in Fort Saskatchewan. The last retail market and gap analysis was completed in 2016.

The study is complete and some key findings substantiate that Fort Saskatchewan is a regional service hub representing a $1.2 billion dollar trade market to 63,000 people. This number is projected to surpass 82,000 people by 2028.

“The successful attraction of retail over the past five years has rapidly evolved the city from a local-serving destination to a regional-serving hub,” explained Mike Erickson, Economic Development Officer.

The survey showed the top five potential businesses for Fort Saskatchewan are Winners or Marshalls, Sport Chek, Home Sense, Real Canadian Superstore and Brown’s Social House.

Retail market and gap analyses provide essential research and statistical data to support strategic commercial attraction and assist with the retention and growth of local retail business. The report states that Fort Saskatchewan currently has approximately 1.30 million sq. ft. of total retail space with a vacancy of only 5.3%. A strong growth opportunity exists with a forecast in the report showing Fort Saskatchewan could accommodate an additional 386,000 sq. ft. of retail space by 2028.

“The study is a valuable tool that will help local businesses grow and increase their competitiveness, provide the necessary data to attract targeted retailers to fill our market gaps and assist us with strategic planning,” Erickson concluded.

The full study is available at fortsask.ca/reports or at Investfortsask.ca or by calling Economic Development at 780-992-6278.