It's clear the retail landscape in Canada is changing as more big name U.S. chains troll for customers north of the border.
And, according to retail experts, just who wins the competition for the pocketbooks of Canadians in 2014 is likely to be decided by who is perceived to be offering the best deals.
The competition in Canada has been intense this year as Target became the latest big U.S. chain to invade the Canadian retail space, having now rolled out 124 stores across the country.
Domestic retailers countered by consolidating at a frenzied pace in an effort to lower overall costs and increase their buying power with manufacturers as they attempt to keep up not only with Target but also the likes of Walmart and Costco.
The grocery segment was particularly active, as Loblaws struck a deal to buy Shoppers Drug Mart for $12.4 billion in cash and stock and Sobeys bought the Canadian assets of U.S. grocer Safeway for $5.8 billion.
Online retailer Amazon even got into the mix, announcing it would begin delivering food directly to Canadians' doorsteps.
In other development in the retail sector, department store chain Sears Canada announced a turnaround plan that included laying off staff and the sale of valuable assets, while Hudson's Bay Co. continued to go upscale, striking a $2.9-billion deal to buy Saks Inc. and bring it to Canada.
Luxury retailer Nordstrom is also set to enter Canada next year and moving into some of the locations vacated by Sears.
Canada isn't home to as many upscale retailers as the U.S. and that could present an opportunity for growth in the sector, especially as stock markets have improved, boosting confidence among wealthier consumers.
