Retailers, restaurateurs struggle through tough economic times
Last Updated: Monday, January 5, 2009 | 10:29 PM ET
CBC News
Boxing Week sales are being extended into January at some Metro Vancouver retailers. (CBC) Some businesses in Metro Vancouver said Monday they had a tough holiday season, and several retailers are expected to extend their Boxing Week sales into January.
The heavy snowfall that hit B.C.'s south coast over Christmas and then around the New Year froze up consumers' desire to spend amid the effects of a global economic storm, one retail expert said.
"The snow definitely had an effect on the sales," said Doug MacDougall, general manager of Metropolis at Metrotown, a shopping mall in Burnaby.
"Some stores are still continuing to have their Boxing Week extended sale or into January sales now."
No sales data are yet available, but it appears merchants who were counting on the final quarter for a big chunk of their profits will be disappointed.
More restaurant diners in Vancouver are opting for lower-priced menus and wines, according to people in the industy. (CBC) Restaurants are also finding ways to cope with a decrease in fine dining, according to Ian Tostenson, president of the British Columbia Restaurant Association.
Diners now seem to have a high level of interest in a lower level of price when it comes to food and beverages, Tostenson said.
"They're not purchasing the $50 bottle of wine, but they'll purchase a $30 bottle of wine — and they're still drinking wine," he said.
Joe Fortes Seafood & Chop House in downtown Vancouver is offering a special menu to lure customers.
"We are offering a price-fixed menu," said Steve Little, Joe Fortes's chef de cuisine.
"We call it the early-bird special. For $28, it's a three-course meal."
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