Today, Wal-Mart Canada just announced major plans to expand. This shouldn’t come as a big surprise, considering Wal-Mart is one of the biggest brands in the world. What does come as a surprise? The fact that they are expanding into Canada, while other brands are failing miserably. Take Target as an example. Seen as Wal-Mart’s biggest competitor, they were always fretted with criticism for their lack of product and higher prices. Many thought that the popular US-brand would give consumers more choice and options, but expanding too fast and to poor locations made them fail miserably. Wal-Mart seems to have found their stride, and has been able to deliver on their commitment to offer a wide range of products and services. Moving with the times, rather than against them, the $340 million investment by Wal-Mart will include an expanding network of supercentres, accelerating e-commerce business, and in-store pick up services.
Lately, other Canadian brands have also left the marketplace. Just last week, iconic Canadian brand Parasuco announced it filed for bankruptcy and will close all seven stores in Canada. The Montreal-based retailer said that it will continue to sell its products online, and will focus their efforts on wholesale, licensing and distribution. The retailer joins a long list of other brands including Sony Corp., Mexx Canada, Smart Set, Jones New York, Jacob and Sears who are either closing all of their stores or seriously retreating in an effort to restructure.