As part of Relaunch MTL, the specific challenges and opportunities to propel the recovery of 11 key sectors of the Montréal economy were diagnosed, using data and strategic information gathered in real time. The resulting action plans are intended to identify the most appropriate actions and solutions to assist decision-making within businesses and across all three levels of government.
During the Strategic Forum on Retail Trade, a number of industry players identified significant challenges, many of which have been exacerbated by the pandemic. Among the issues already affecting the sector before COVID, participants identified high fixed costs and a lag in making the digital shift as priorities. According to industry players, downtown and commercial thoroughfares are suffering the greatest impact of the crisis within Montréal’s retail trade sector.
Despite the major difficulties that still face merchants, particularly fashion businesses and restaurants, many opportunities are emerging, starting with the transformation of traditional business and operating models, as well as the acceleration of the digital shift.
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