Edmonton Retail Investment Forecast
Investors are Optimistic the Turnaround in Retail Performance Extends into 2022
Recovering energy prices and tourism key to retail market. Employers recouped all the jobs lost during the early months of the health crisis in 2021, and additional gains are expected this year. A resumption in worldwide energy demand, which still serves as the backbone of the market until a more diverse economy is established, was the primary factor in last year’s success. In 2022, the relaxation of pandemic restrictions should allow some of the most challenged sectors to take the reins of the improving retail segment. Tourism, for instance, will begin to move toward previous levels, after being hamstrung by untimely COVID-19 variants. A return of summer festivals, among other attractions that drive foot traffic, will help absorption reach the highest level since 2018. Construction, meanwhile, is not expected to impact existing operations, as deliveries fall to the lowest amount since 2016. The three-story retail platform of the latest ICE District tower accounts for the largest increase in inventory this year.