Growing Retail Sector in Olds, Alberta

Sectors: Retail

Home > Retail

Retail

Home > Retail

#4 Retail

Retail: Introduction

The retail industry in Olds is an important contributor to the town's economy, providing employment opportunities and contributing to the vibrancy of the local community. While the sector has faced challenges in recent years, there are many examples of local retailers adapting and thriving in the face of changing market conditions.

Olds has a diverse mix of retail businesses, ranging from small independent stores to larger national chains. Some of the popular retail chains in the town include Walmart, Canadian Tire, Staples, the Brick, Dollarama, and Home Hardware.
The retail industry is one of the largest employers in Olds, with many residents working in retail positions. As of 2021, the retail sector comprised 115 businesses and provided approximately 630 jobs in Olds.
In 2022, there were 17 commercial building permits issued totaling $2.8 million.
Olds is expected to continue to attract new commercial and industrial development. Olds, as the major service centre in Mountain View County, combined with its population growth will result in more retail and service sector development in the Town.
Olds has a strong tradition of supporting local businesses, and many independent retailers thrive in the town. For example, the Olds Farmers' Market is a popular destination for locals and visitors, offering fresh produce and handmade goods from local vendors.
Uptowne Olds is at the heart of the downtown. Driven by group of volunteer business owners dedicated to creating fun, engaging experiences for all those who visit. Uptowne hosts a few major events through the year, primarily Summer Soulstice in June and Midnight Madness in November.
Olds is also Fair Trade Certified. Acknowledging that the products and services that are purchased affect communities, companies, and people in other countries. Olds Fair Trade has a vested interest in teaching local students, business owners, and residents that the products offered in our stores or purchased for our homes are products that come from places and companies that are ethical and care about sustainable environments.

Businesses

MM Commercial Building Permits ($)

Jobs

Retail: Profile Details

Market

Analysis

The retail industry in Olds is a vital component of the local economy, serving both the Town's residents and the surrounding rural communities. Retail sales in Olds have shown steady growth over the past several years, The retail industry in Olds faces challenges from both changing consumer preferences and the COVID-19 pandemic, which has affected consumer behavior and disrupted supply chains. Despite these challenges, the retail industry is expected to continue to grow in the coming years, driven by ongoing population growth and demand for consumer goods and services.

Supply

Chain

The supply chain for the retail sector in Olds involves a network of manufacturers, distributors, and transportation providers. The town's location along the Queen Elizabeth II Highway provides easy access to major urban centers like Calgary and Edmonton, which allows for efficient transportation of goods to and from retail locations. However, the COVID-19 pandemic has disrupted supply chains and caused significant challenges for retailers in Olds and across the province. Despite these challenges, the retail sector in Olds continues to thrive and is supported by a strong supply chain that provides access to a wide range of consumer goods and services.

Investment

Opportunities

There are several investment opportunities for the retail industry in Olds, Alberta. The Town's growing population and demand for consumer goods and services make it an attractive location for retailers looking to expand. Additionally, Olds has a favorable business climate and is supported by a strong transportation network, which provides efficient access to major markets in Alberta and beyond. The COVID-19 pandemic has also accelerated the shift towards e-commerce, which presents opportunities for retailers to develop and expand their online presence. Finally, there is a growing trend towards sustainable and locally-sourced products, which presents an opportunity for retailers to differentiate themselves by offering unique and environmentally-friendly products. Overall, there are several opportunities for retailers to invest in Olds, Alberta, and capitalize on the town's strong economy and growing population.

Industry

Regulations

The retail industry in Olds is subject to various regulations and requirements at the federal, provincial, and municipal levels. These regulations cover areas such as product safety, labeling requirements, consumer protection, and employment standards. Retailers are required to comply with federal and provincial regulations related to taxes, labor standards, and environmental protection. Additionally, retailers in Olds must comply with municipal bylaws related to zoning, signage, and building permits. These regulations are designed to ensure the safety of consumers and employees, promote fair competition, and protect the environment. It is important for retailers in Olds to stay up-to-date on these regulations to ensure compliance.

Infrastructure

The infrastructure for the retail industry in Olds is well-developed and supported by a strong transportation network. The town is located along the Queen Elizabeth II Highway, which provides efficient access to major urban centers like Calgary and Edmonton. This allows retailers to easily transport goods to and from their retail locations in Olds. The town is also home to several commercial areas, which provide ample space for retail development and expansion. The Town also has a bustling downtown core due to well maintained infrastructure systems that attract retailers and consumers. Additionally, Olds has reliable electricity and water supply, which are critical for supporting the retail industry. The town is committed to investing in infrastructure to support the growth of its economy and attract new businesses, which bodes well for the future of the retail industry in Olds.

FAQ: Investing in Olds, Alberta

Are there any incentives or support programs available to help new or expanding retail businesses in Olds?

Yes, the Town of Olds has a tax incentive for commercial/industrial development. See our Stimulus page for further details. There are also provincial and federal government programs available some of which are shown on our stimulus page or on our Business & Entrepreneur Resources pages.

What is the average cost per square foot for commercial space in Olds?

It is approximately $11.00 per square foot.

What does it cost to have Invest Olds market my business?

No cost. This is a free service to promote our local businesses and give them the recognition they deserve. We understand marketing is critically important for a new business and we want to help.

What are the requirements for Invest Olds to market my business?

You must have a current business license and be either a new business opened in the last 2 years or an established business operating in Olds for 15 years or more.

Does Invest Olds only market business?

No. Invest Olds markets available land and property in Olds and the surrounding area, as well as its listing realtors to effectively connect investors directly to the land or property’s selling agent.

What makes Olds a great place to live and work?

Olds is a welcoming and vibrant community with a high quality of life. The town is home to a variety of amenities, including parks, recreation facilities, and cultural events, as well as excellent schools and healthcare services. Additionally, Olds is located in a beautiful natural setting, with easy access to the mountains and other outdoor recreational activities. For businesses, Olds offers a supportive and innovative environment, with access to top talent and cutting-edge research and development facilities.