In the previous two weeks, we explored Surrey residents' dining preferences for restaurants and dining, as well as decking out their homes with furniture and décor. This week, we'll take a look at their preferences in apparel.
Spending on Apparel
Surrey residents are literally well-heeled. They spend $78 million on apparel each month, which is more than 53% higher than the average BC household. They’re fond of brand names and high-quality goods.
Presently, residents spend more than 21% of their fashion budgets outside the city. That means an additional $16 million could be captured by retailers within Surrey’s economy. The current top opportunity areas are in South Surrey, Cloverdale, and Newton, accounting for 27%, 16% and 16% of survey respondents who look outisde the city for their apparel needs. These areas also have some of the city's highest household incomes, with key commercial areas including South Surrey's Semiahmoo Shopping Centre & Shops at Morgan Crossing, Cloverdale's Main Street, and Newton's commercial town centre & cultural business areas.
Our survey made it clear that, for these people, style matters. Residents would like to see more retailers like Aritzia, Browns Shoes, Blue Sky Clothing, Hollister, Simons, Lululemon, Nordstrom, Winners, Zara, H&M, Eddie Bauer, as well more children’s clothing stores.
We are continually looking for feedback on what business insights you would find helpful in making your next location decision. Connect with us at firstname.lastname@example.org to give us your thoughts or for more information about retail opportunities and investing in Surrey.
Be sure to sign also up for our Invest Surrey newsletter to be the first to hear the latest intelligence. Subscribe here: https://investsurrey.ca/subscribe