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- Sep 25, 2007
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Hi all,An article from the October 24th edition of the Globe and Mail (Report on Business). Excerpts:
ROOTED IN GROWTH
Okotoks, which has restored its old-style main street look, is typical of the type of place that Wal-Mart targets. Crowned in the 2006 census as Canada`s second-fastest growing mid-sized community, Okotoks`s population has doubled since the beginning of the decade to about 20,000 - and is expected to reach 30,000 by 2015.
Its youthful population (average age: 32) is attractive to Wal-Mart because young people make more purchases than older consumers do. And the burst of housing construction is appealing because new homeowners buy more.
After Wal-Mart arrived, other big-box retailers soon followed, along with new restaurants and shops. Today, Okotoks officials estimate about 50 new shops, eateries and professional offices have come to town, while only a few closed.
People from outside of Okotoks flood into town to shop. Last month, another retailer - Home Depot - opened, anchoring another shopping development several blocks from Wal-Mart. "Certainly we have seen a change in the types of businesses that have come here," says Shane Olson, the town`s economic development team leader.
SPEED BUMPS
Not all communities have been as welcoming to Wal-Mart as Okotoks.
In Okotoks, as Wal-Mart prepares to expand its store, rivals are not standing still. Home Depot is drawing customers by touting its broad range of energy-efficient and environmentally friendly products, says Peter Vernon, a Home Depot district manager.
And it tries to take advantage of Wal-Mart`s popularity, he says. "The more traffic in the area, the more opportunity we have to drive people into our stores, and the better off we`re going to be."
http://www.theglobeandmail.com/servlet/sto...=marina+strauss
Keith
ROOTED IN GROWTH
Okotoks, which has restored its old-style main street look, is typical of the type of place that Wal-Mart targets. Crowned in the 2006 census as Canada`s second-fastest growing mid-sized community, Okotoks`s population has doubled since the beginning of the decade to about 20,000 - and is expected to reach 30,000 by 2015.
Its youthful population (average age: 32) is attractive to Wal-Mart because young people make more purchases than older consumers do. And the burst of housing construction is appealing because new homeowners buy more.
After Wal-Mart arrived, other big-box retailers soon followed, along with new restaurants and shops. Today, Okotoks officials estimate about 50 new shops, eateries and professional offices have come to town, while only a few closed.
People from outside of Okotoks flood into town to shop. Last month, another retailer - Home Depot - opened, anchoring another shopping development several blocks from Wal-Mart. "Certainly we have seen a change in the types of businesses that have come here," says Shane Olson, the town`s economic development team leader.
SPEED BUMPS
Not all communities have been as welcoming to Wal-Mart as Okotoks.
In Okotoks, as Wal-Mart prepares to expand its store, rivals are not standing still. Home Depot is drawing customers by touting its broad range of energy-efficient and environmentally friendly products, says Peter Vernon, a Home Depot district manager.
And it tries to take advantage of Wal-Mart`s popularity, he says. "The more traffic in the area, the more opportunity we have to drive people into our stores, and the better off we`re going to be."
http://www.theglobeandmail.com/servlet/sto...=marina+strauss
Keith