Marketing 2MA3Company: Hudson’s Bay Company Industry: Retail Section: 7 Simran Kang - 400123646 Biranavi Kumarasamy - 400130755 Abi Rajkumar - 400131097 Amelia Watt - 400152460 Lexxus Williams - 400146452 October 23, 2018
Introduction The Hudson's Bay Company is Canada’s largest diversified general merchandise retailer and oldest company. Starting out as a French Canadian fur trading company, the company has expanded and diversified over the years. HBC regulates and runs many different business divisions, but the most popular- namesake business is Hudson's bay, commonly referred to as The Bay. Hudson's Bay has over 90 retail locations spread across Canada and the Netherlands. Other divisions include Lord & Taylor, Urban Outfitters, and Saks Fifth Ave. The SIC and NAICS code categorizes Hudson's Bay as a department store numbered 5311, and 45211 accordingly. Canadian Industry Description and Analysis The Hudson Bay Company is a Canadian retail business that’s commonly known as The Bay. The retail industry primarily engaged in selling consumer goods and related services to the general public through multiple channels of distribution. According to 2018 Canadian Retail Forecast, The retail industry as a whole is in a state of transition. Brands continue to look for new locations to run their retail business, and retailers that have already entered Canada are now in the process of opening multiple locations in Canada. 1With the continue change of consumers taste and the rise of e-commerce, Canadian Retail Forecast has predicted that there will be no doubt to see some more bankrupts after the close down of Sears. Millennials are no longer the up and coming generation. They are the biggest 2spending cohort for retailers, with influence on the shopping habits of other age demographics. 3Therefore, Brands should really take that into considerations, if they want to increase sales. 1 2018 Canadian Retail Forecast [Analysis]." RETAIL INSIDER. Accessed October 21, 2018. .2 2018 Canadian Retail Forecast [Analysis]." RETAIL INSIDER. Accessed October 21, 2018. .3 [Report] Retail Trends In Canada 2018-2019." BDO Canada. Accessed October 22, 2018. .
We’ll no doubt continue to see e-commerce grow as a percentage of overall retail sales, though it still remains well below 10% of all Canadian retail purchases. 4Company Description and Analysis The Hudson’s Bay company’s main focus is to provide top performance of high quality stores with more than 480 stores globally. By making this promise the bay showcases the taking 5the core of their micro environment into consideration, the consumer. The company showcases 6this by taking into account that the retail landscape is drastically changing and how they are thinking outside the box to satisfy today’s customer.5. Hudson’s Bay is finding new, innovative