News   GLOBAL  |  Apr 02, 2020
A Message to Our Readers
 9.7K     0 
News   GLOBAL  |  Apr 01, 2020
EarthCam Time-Lapse Documents Rafael Viñoly-Designed New Stanford Hospital Construction
 41K     0 
News   GLOBAL  |  Apr 01, 2020
Resort Town
 5.5K     0 

pw20 said:
Except I've continued to use Chicagoland income ($57,000) versus Greater Toronto Median Income (of which there is only a $10,000 disparity). And after tax - with a $10,000 lower median salary - most Chicagoland residents would have a higher net income than GTA households. And low housing cost jokes aside - housing is most people's number one cost of living. So cheap housing would have a significant impact on disposable spending.

And... the real statistic that you can't seem to grapple - is disposable income.

Disposable income in Canada (according to OECD) is $27,000 (source: http://www.oecdbetterlifeindex.org/topics/income/)
It's $37,000 in the United States...

That's a HUGE difference.

As Canadians spend more, (which you can see on page three of the colliers report I linked to earlier), they are doing, and as they save less (traditionally Canadians have saved more than Americans although this is changing), luxury retail in Canada will continue to grow. That being said - until our disposable incomes become more aligned I do not think Toronto's luxury retail market will not match our US counterparts.

To me that's a fact.

If you want to actually provide any statistics ACT7 that would pinpoint otherwise - happy to read them.
Click to expand...

Here are additional interesting statistics on the percentage of Canadians who earn 100,000+ (its under 10% in most provinces, 8% in Ontario) versus 15% of American income tax filers (http://www.businessinsider.com/7000-millionaires-paid-no-income-tax-2012-9)


The business insider article is also interesting because it highlight some of the tax loopholes that exist that allow high income Americans to pay almost zero income taxes. So to your point about Gross Media Income in Chicago being 20K lower... then Toronto's - when there are as many tax loopholes as exist in the US - looking at Gross Median income isn't so helpful.
 
This isn't a Toronto vs Chicago debate, rather Canada vs America, and I completely agree !
 
Can we please get back to discussing Yorkville? :)
 
We absolutely can. I actually am quite tired of these inane conversations about whether or not Toronto can support more luxury retail. The answer to me is a resounding yes, so when I hear random, general, anecdotal comments around population, tourism, etc, it gets me going. Humble apologies.
 
If I can quickly add one thing. From what I've seen over the years, foreign retailers finally open a store in Toronto and it ends up being near the top of their worldwide performers. I've heard that a number of times and it would indicate there are flaws in their market research and they seriously underestimate the Toronto market. You also have to take into consideration that a lot of Torontonians and people in the surrounding areas regularly go shopping in the States. I think I read today that overnight visits to the U.S. were at a 40 year high. That's a lot of $ flowing out of Toronto and it's something you probably wouldn't see in your average American city.
 
Okay to be fair to the poster from a couple pages ago, took a more recent stroll through Yorkville for the icefest.

I now agree (and take back what I said before), there are more vacancies then I recall last summer (granted some are leased, you can see the lease sign down) but still more vacancies in general in Yorkville proper.
 
I walked by an noticed it yesterday but I didn't see that anyone had posted it..I even searched!
 
An article in flare magazine about d and g opening an 835 sq meter space on bloor in 2013. They've never been to Canada and they're curious. Has anyone seen Any activity at their site???
 
vatche said:
An article in flare magazine about d and g opening an 835 sq meter space on bloor in 2013. They've never been to Canada and they're curious. Has anyone seen Any activity at their site???
Click to expand...

Is that the old LV spot? 835 sq metres = around 2800 square feet.
 
" when Dolce & Gabbana’s store—835 square metres of black glass, smoky mirrors, walnut wood and Bordeaux-velvet and damask-silk furniture—joins Burberry, Prada, Tiffany & Co., Gucci, Chanel, Louis Vuitton and Holt Renfrew on Toronto's Bloor Street."

This is what it says, don't know where it is. And 835 sq meters is roughly equivalent to 8300 sq ft.
 
You must log in or register to post here.

Back
Top