Realtor Montreal Bonnie Meisels – Wishing Everyone An Awesome 2018!
Realtor Montreal Bonnie Meisels…just thought I would take the opportunity to wish all of my friends, colleagues and clients a wonderful holiday season and a simply awesome 2018!
As the internet and ecommerce continues to become a large sector within our global economy, many entrepreneurs are stuck wondering what online success means for offline shopping channels. It is no secret that internet has pervaded nearly all aspects of modern society, and within the online shopping realm, e-commerce has grown about 15% in last year alone.
We can see from https://love.shopping.fm statistics on the both online and offline retail that online growth is set to outpace conventional offline retail sector growth by 3 to 1. This, in a lot of cases, would suggest that online shopping will eventually lead to the demise of the traditional brick and mortar approach to stores, making many investors and entrepreneurs hesitant to set up these types of stores.
Though ecommerce is the faster growing sector, many of these entrepreneurs are unaware about the truths behind the current marketplace. Here is some key truths and data that can help point you in the right direction when choosing whether to open an actual physical store front or keep your sales channels all online.
Though internet and online commerce is big, offline still makes up nearly 90% of the overall retail market. In 2017, $459 billion was spent online, which is up from $400 billion in 2016. Though this volume is huge, it is small in comparison to offline, which saw total sales increase to $4.87 trillion or nearly 10 times the amount of its online cousin. In fact, if you compare the numbers from 2016 to 2017, online actually shrank in overall market percentage. In 2016, online revenue was generated to the tune of $400 billion and offline was $3.375 trillion. This means that, in 2016, online represented about 11.85% of the overall offline market. In 2017, though online grew to $459 billion, offline grew to $4.877 trillion, which represents about 9.4% of the total offline market.
As you can see, even though the data would suggest that online is growing faster than offline revenues, the truth is the nearly 3 times higher growth rate for internet-based commerce is actually not enough to outpace the traditional brick and mortar industry. In short, offline is so massive that it would take much more than a 3x higher growth rate for online ever to achieve the same market value as offline. Though online is a growing industry and is definitely growing, the sector as a whole is growing far bigger and faster. Online will actually make up less of the overall retail market even though it may seem otherwise.
When you look at the top reasons that each channel is used, aside from the convenience of shopping online and the fact that they can compare a wide variety of competitors, customers prefer offline. This is mainly due to a few key factors. The first is obviously the tactile differences of shopping in person. For example, a shopper can feel, try-on or quality check a product far more effectively in person than online. Though online retailers attempt to use the product review and testimonial approach to build credibility, a variety of fake ratings and reviews do exist online. This, in turn, has made many shoppers weary of the fact that a product may not be exactly as described or depicted online.
Offline, a customer does not rely on the description or reviews of a product, but can check the quality and product in person, relying on their own judgment. This fact is even more compounded when the value of the product goes up. As a product’s price increases, the vast majority of people will prefer to make those larger sales in person.
When it comes to top reasons given for shopping in conventional stores vs. online, the tactile reasons are given by 55% of people. 41% have concerns that the product looks different and 24% state the product is to valuable to buy online.
Another top reason that customers give is the shipping times. 34% of people listed longer shipping times as a reason they prefer to shop in person and 25% say the shipping costs are too high. This is partially true; however, the psychology of modern humans would suggest it has a lot more to do with the fact that we want instant gratification. In most cases, shipping and savings from buying online equate to a total savings, however, the fact that we have to wait for the purchase to arrive, is generally another top reason people prefer to shop in person.
It is a fact that 4 out of 5 smartphone users will turn to their phones for commerce informational demand. If ever you have “Google’d” a product to compare pricing or read reviews, you can attest to this fact. However, though we all have a tendency to look up products and services online, the vast majority of purchases are still made in person.
In effect, the business model looks something like this: first we look up a product we are interested in. Second, we research the product, comparing reviews and competitors. Finally, we make the decision to buy and, more often than not, we take ourselves to a local retailer to make the actual purchase. In effect, online is only boosting offline sales. For example, Wal-Mart, the American retail giant, has a lot of traffic to their site, and though people check availability and pricing online, they generally go to the store where that product is available to make the final purchase.
Due to this trend of shoppers researching online but buying in person, a new trend of Omni Channel solutions has risen to meet the market demand. What an Omni channel does is lets a consumer find you online, read reviews and then compare prices, but once a decision to purchase is made, the consumer is directed to the closest in person point of sale. This has become a growing trend and has made the entire retail experience much quicker and easier from the customer’s point of view. Additionally, it boosts conversion and keeps the sales within the brand’s specific sales funnels. This is a great option for those brands and businesses looking to maximize on the online shopping trends without losing the ability to offer tactile observation, credibility and the speed of an offline store.
Though many entrepreneurs are still caught in the space of not knowing which option is best for their new endeavor, an Omni channel is likely the best option in most cases. For those that are looking to market to a global customer base, a web-based online solution is still likely the best bet. For those looking to sell a product or service in a local or regional marketplace, an offline storefront is still likely to convert much more consistently and have better ROI. Though online commerce is definitely growing, it is simply too small at this time to make any real effect on the offline market in terms of taking overall market share. So, if you are an entrepreneur wondering if an offline store is still viable, the simple answer is yes.
The UK, is another story, with online shopping skyrocketing. The trend is only upwards, read the article
The most astonishing and predictable trend in economics just got more astonishing and predictable | Markets Insider
British consumers are leading the planet in a relentless march to switch all their shopping online. Britain is the No.1 country for online shopping. Right now, 29% of all shopping done by credit/debit card is done online in the UK. It was only 17% in 2011.
Montreal food, real estate and other cool stuff you need to know about! Let’s start with food (my favorite topic of course because my heart is in my stomache). One thing we know for sure and we can all agree on, Montreal has no shortage of great chefs! Lesley Chesterman of the Montreal Gazette just released her list of the best Montreal restaurants of 2017. Here’s the short summary;
Arthurs: Traditonal Jewish and Middle Eastern cuisine – some of the favorites “sprout-topped avocado toast, to more complex plates like challah French toast and classic bagel/lox/cream cheese. Other favourites include the cinnamon babka, the luscious Moroccan toast (think challah topped with a poached egg, marinated eggplant, tomato and cucumber salad, spiced chickpeas and tahini) and seriously piggy cottage cheese pancakes, known as syrniki”
Warning – this place is packed on weekends so be prepared for at wait!
Located at 4621 Notre-Dame St. W., 514-757-5190, arthursmtl.com
Le Butterblume: Favorites – “coffee or granola, or opt for something more substantial, such as the luscious beet soup with smoked goat’s cheese, or a tartine made with lightly smoked avocado cream or even with a dark chocolate and hazelnut”
Located at 5836 St-Laurent Blvd., 514-903-9115, lebutterblume.com
Café Cherrier: French Bistro – Favorites – “French faves like onion soup, duck confit and floating islands, and the wine list has something for everyone. Steak/frites lovers should not miss “le fameux rumsteck du Cherrier”
Located at 3635 St-Denis St., 514-843-4308, cafecherrier.ca)
Taverne on the Square: Favorites – “Caesar salad, tuna tartare, mac and cheese and rigatoni with meatballs while incorporating seasonal salads, pastas, fish and steak and an excellent wine list”
Located at 1 Westmount Square, 514-989-9779, tavernonthesquare.ca)
Bar Loïc: Cool wine bar in St Henri – Favorites – “mushroom crostini and the perfectly seasoned beef tartare. When it’s available, don’t miss the ricotta-filled ravioli topped with kale, Parmesan shavings and toasted hazelnuts”
Located at 5001 Notre-Dame St. W., 514-439-6806, barloic.ca
Oregon Bar à Vin: Wine bar in Laval
Located at 241 Curé-Labelle Blvd., 579-641-1414, oregon.restaurant
Pick Thai: Favorites – “fresh and fried rolls, satay skewers, pad Thai and pad nuea tuadin — sautéed filet mignon enhanced with galangal, kaffir lime leaves, cilantro and chilies and a great wine list”
Located at 5221 de Maisonneuve Blvd. W., 514-316-9696, pickthairestaurant.com
Tiradito: Favorites – “ceviche made with red snapper, a dish made with raw tuna blanketed in miso, tamarind, chicha Quechua beer and amarillo peppers, and octopus flavoured with Japanese chilies and Peruvian panca pepper.”
Located at 1076 Bleury St., 514-866-6776, tiraditomtl.com
Kampai Garden: Favorites – “The menu, developed by Montreal star chef Antonio Park, is Asian/casse-croûte fusion featuring tacos, tartares, dumplings, salads, a shrimp pogo, fried chicken and a gourmet hotdog topped with kimchi and potato chips.”
Located at 1616 Ste-Catherine St. W., 514-379-6161, kampaigarden.com
Laurie Raphaël: Favorites – “gravlax served with marinated juniper berries and puréed ramps, duck magret served with a strawberry compote and nasturtium leaves, and a chocolate sphere dessert filled with maple ice cream that was melted with the aid of a maple water caramel sauce, featuring a superb wine list”.
Located at 2050 Mansfield St., 514-985-6072, laurieraphael.com
Hopkins: Fine Dining – Sharing Plate Format – In NDG where Lucilles used to be – Favorites – “more meat-centric than vegetable-centric. After tasting dishes like bone marrow flan, tuna carpaccio niçoise, butter-poached lobster, scallop fish and chips, and a sublime duck ravioli,”
Located at 5626 Monkland Ave., 514-379-1275, restauranthopkins.com
Bistro Rosie: In Rosemont – Le Petit Patrie – Serving dinner and Saturday Brunch – Favorites – “menu changes weekly and is divided between hot and cold appetizers, plus some larger plates made with meat and fish.”
Located at 498 Bélanger St., 514-303-2010
LOV: In Old Montreal – Upscale vegetarian – Favorites – “Her cuisine is described as “botanical,” with an emphasis on natural, organic and gluten-free options.”
Located at 464 McGill St., 514-287-1155, lov.com
Writing this year’s roundup of Montreal’s top places to eat out, I wonder if restaurant-list fatigue has set in. When I began writing best-of lists close to two decades ago, I simply chose the five or so restaurants that got the highest star rating, waxed eloquent about why they were so good, and there you’d have it.
As the 2017 comes to a close this is a summary of what happened in our Montreal real estate market this year along with some projections for 2018.
According to the CMHC fourth quarter report, there was little evidence of over evaluation, an over heated market, and over building. The rise in demand did contribute to a tightening of the resale market, with more demand than supply.
” single family housing was the one that posted the most significant price growth acceleration. In fact, in each of the large sectors of Montréal, the growth in the average price of single-family houses hovered around 8% in the second quarter of
2017, while it did not exceed 3% in the same quarter of 2016. As was mentioned in the previous section, the strong demand, combined with a relatively limited supply of new and existing single-family homes in several sectors of the Montréal metropolitanarea, put increasingly strong pressure on prices in this segment. The price of plexes (with two to five units) in the North Crown14 also registered a considerable increase, with a gain of 8% in the second quarter. Just like for single-familyhouses, the growth had not exceeded 3% in the period from April to June 2016. The situation was different in the
condominium segment, where only the North Shore and Vaudreuil Soulanges sectors showed greater price growth in the second quarter of 2017 than a year earlier. Still, this growth, at 3%, was relatively weaker than for the other housing types.
Finally, while evidence of price growth acceleration on the Montréal existing home market remained low in the second quarter, this indicator willhave to be closely monitored over the coming quarters. With the economic outlook remaining favourable to housing demand, it would not be surprising for market conditions to tighten gradually and cause, in turn,
a faster increase in prices.”
November 2017, showed a 12 per cent increase compared to November of last year. This was the most active month of November in eight years. Watch the video to see the full stats.
“The Greater Montreal Real Estate Board says the region set a November record for condominium sales, which helped fuel a 12 per cent increase in overall residential transactions compared with the same month last year.
The number of condo sales across the region surged 23 per cent from last year to 1,137 in the month as the suburbs north and south of the Island of Montreal rose by 53 per cent and 33 per cent respectively.”
I recently read a great post by Sharon Fung who recently visited Montreal. Her must do places are:
|McGill University||Notre-Dame Basilica of Montréal|
|Mount Royal Park||Montreal Biodome|
|Old Montreal||Habitat 67|
|Bota Bota Spa||Musée des Beaux-Arts de Montreal|
|Jean Talon Market||Les Aires Libres|
and must do places to ear:
|Bouillon Bilk||St-Viateur Bagel|
|Le Garde-Manger||Ma Poule Mouillée|
|Crew Collective & Cafe||Olive et Gourmando|
|Terrasse Nelligan||Au Pied de Cochon|
|Le Mal Nécessaire||Tommy Cafe|
Just a few hours away from Toronto lies the small French speaking city of Montreal. With it’s previous European influence and historical sites, Montreal has a certain charm with its gardens, museums, art galleries and European architecture. I’ve been to Montreal in 2010 but I didn’t experience it the same way.
Montreal home improvement and renovation professionals can now be found on my new directory website, https://localmontreal.net
Over the years, clients have asked for names of professional painters, handymen, roofers, electricians, etc. Whether you’ve just moved into your new home and are looking to do some renovations or are looking to spruce up your house before listing it on the open market, it’s great to have quality local professionals you can count on.
Rather than scrolling through many pages on Google, I’ve curated a directory of tradespeople and companies that have a minimum google reviews score of 4.0 and above. Now within one site, you find local Montreal general contractors, electricians, painters, roofers, bathroom and kitchen renovation ideas, etc for free. Think of it as a realtor’s roladex online!
I hope you’ll find the site easy to use and helpful in finding you the right resource for your home improvement job. If you think your company should be added to the directory, reach out at firstname.lastname@example.org
It’s awesome to watch your home improvement projects come to life. Finding the right person for your job can make all the difference between success and endless frustration. The Montreal Home Improvement Directory allows you to find highly rated professionals. Whether you need a painter, roofer, electrician or designer, the directory has it all.