Canadian shopping center owners have been adding more service-oriented tenants and non-retail uses to keep up with consumer preferences, according to an ICSC Research report. Called Canada’s Diversifying Real Estate, the report is based on a survey of 1,005 Canadian adults that Engine Insights conducted July 26-31, 2019 on behalf of ICSC.

RELATED: On Thursday, May 28, at 2 p.m. Eastern, an ICSC Connect Virtual Series will use ICSC’s research as a springboard to examine how the Canadian retail real estate market has changed related to COVID-19. Register here. 

New uses, most frequently residential, have been helping owners reimagine, enhance and maximize underutilized retail properties across the country. The trend aligns with public sentiment, as 87 percent of Canadian adults would consider residing in the live-work-shop-play environments, according to the survey. 

To keep pace with Canadian consumers’ increasing desire for experiences, service providers have been opening more physical stores in Canada. Wired and wireless telecommunications carriers and food services and drinking places have been growing especially fast. Repair and maintenance industries also have been growing their physical portfolios. The health and wellness segment — which includes cannabis operators, holistic medicine and fitness centers — has been adding stores, as well. 

The full report is available here.