Market Visit Report: PriceSmart Foods – Burnaby, BC
If you are reading this anywhere other than the Lower Mainland of British Columbia, you may not have ever heard of PriceSmart Foods. While this chain has undergone quite a bit of change in the past few years, shrinking considerably; the format is a key gem in the crown of Overwaitea Food Group’s growth strategy.
While Overwaitea is driving its growth and expansion with its flagship Save On Foods banner, PriceSmart Foods appears to be the banner chosen to go head to head with Loblaw’s ethnic chain T&T Supermarkets in the multicultural market surrounding Vancouver, BC.
The second PriceSmart Foods store is located in the Metrotown area of Burnaby, BC home to a large population of Chinese-Canadians.
The new PriceSmart Foods store is designed based on its first hybrid store launch in Richmond, BC. The hybrid design integrates a full ethic offering complete with in-store communications in Chinese language along with a traditional supermarket product offering – a retail two-for-one!
It looks like PriceSmart Foods will continue to play a supporting role in the growth strategy of Overwaitea in key markets with high ethnic population all the while innovating
We hope you enjoy this Virtual Store Tour!