Vancouver's Granville Island Market, once the highest-grossing retail space per square foot in North America, faces a declining share of area food sales
"Once the highest-grossing retail space per square foot in North America, the Granville Island market saw just a 1.1-per-cent increase in sales last year -- less than the rate of inflation -- while retail food sales provincewide rose 9.8 per cent, Granville Island director Lino Siracusa told tenants at the meeting.What was a retail pioneer in the late 1970s and '80s is losing market share to high-end grocers that have moved into the area such as Urban Fare, Capers, Meinhardt's, Nester's Market, IGA Marketplace, Choices and T & T Supermarket -- which are open until 9 p.m. or later. Sales are flat despite the huge population growth in nearby Yaletown and False Creek North."
Thanks to Craig Townsend
Read the full story: Granville Island merchants ponder ways to regain edge
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