The Future of Business Loyalty Programs in the USA

The shortage of housing has had a lot of detrimental consequences. For starters, it has contributed to rising property costs, making it impossible for many individuals to purchase a home. This is especially true for low-income individuals and families, who are being priced out of cities and forced to relocate to more expensive suburbs or even further away.The absence of affordable housing has broader social and economic implications. It can exacerbate poverty and inequality, as well as hinder social mobility. It can also have an influence on the economy as a whole, making it difficult for firms to attract and keep people who cannot afford to live close to their offices.To address the housing crisis, Canada's main cities must boost the supply of homes. This can be accomplished through a variety of ways, including making more land accessible for development, simplifying the approval process for new building projects, and offering incentives to developers who create more affordable housing.It is also critical that the government invest in social housing programs so that low-income individuals and families have access to affordable housing options. This could involve creating additional social housing units, offering rent subsidies, and assisting community-led housing initiatives.Overall, there is an urgent need for increased housing supply in Canada's largest cities. Without action, the housing problem will grow, resulting in negative implications for individuals, communities, and the economy as a whole. It is time for governments at all levels to take decisive action to increase housing supply and ensure that everyone has access to cheap, high-quality housing

We need to discuss Indigo. As you know

it is Canada's largest bookshop chain, with 88 superstores and 85 small-format stores. It sells far more than half of all books purchased in Canadian retailers, with Walmart, Costco, and small bookstores accounting for the majority of the remainder.Indigo has one problem: it is failing. The other issue is that it is discontinuing bookselling. Yes, that sounds like a Woody Allen joke, but it is not humorous from a publishing standpoint. We rely on Indigo.The company's finances have been bleak for some time. It lost $37 million in 2019; $185 million in 2020; and $57 million in 2021. Things looked better in 2022, with a $3 million profit, but the first two quarters of 2023 are now in the books (the fiscal year ends on March 28), and Indigo has already lost $41.3 million.The fact that the company lost money during its first two quarters isn't the end of the world. Indigo is a third-quarter enterprise. All the magic happens over the holidays. The issue is that the $41.3-million loss is approximately $10 million higher than the 2022 loss during the same period. That is the incorrect way; things were meant to improve as COVID lifted its foothold on the retail sector. The company's share price, which appeared to be recovering in June, has now plunged 30 percent, to $2 (from a high of almost $20). Without an absolutely phenomenal holiday season, Indigo is likely to be back in the red for the year.

While all of this is going on, Indigo has pulled 

out of the book business. The firm's marketing emphasizes "intentional" and "purposeful" living (its press releases sound like Gwyneth Paltrow circa 2008). Indigo is deliberately seeking to re-establish itself as a general merchandise provider to young ladies.This isn't news. Indigo stated in its 2013 annual report that it was on "the early stages of a journey taking us from our position as Canada's leading bookseller to our vision of becoming the world's first cultural department store." It regarded toys, paper, home decor, fashion accessories, and gift sales as the future of the company.As far as I can determine, 2014 was the first time Indigo recorded book and general goods sales separately. Books, which had previously accounted for nearly all of company sales, had dropped to 67.4 percent, with miscellaneous items accounting for 28 percent. By last June, books had dropped to 53.6% and general items to 41.5%.Indigo has transformed about half of its shop space devoted to books, and the process is far from complete. At its flagship New Jersey site, the mix is 40 percent books and 60 percent general stuff, and it specializes in a specific type of book. "We found a niche," explained an Indigo executive. 

"We became New Yorkers' preferred place 

for coffee table books. In reality, every decorator in New York visits that store to purchase large format coffee table books for their clients' houses. We transitioned from books about décor to books as décor. "That store had an incredible year."Indigo produced this advertising photo in July for a new flagship store in Ottawa's Rideau Centre. Do you see any books there? All of the company's flagship stores are being renovated in this direction.That's about it for books on the main level; even in this area, the book tables share space with other items. I didn't take out my tape measure, but I'd assume that reading content takes up less than 20% of high-traffic space.If you want more books, you must go up to the gloomy and frightening second floor. At the very least, you can avoid the crowds.Photo credit: Ken Whyte.Indigo signed a collaboration with Adidas two weeks ago to bring sportswear into its stores.Last year, it conducted a contest in which children's and infant entrepreneurs fought for the opportunity to open their own stores inside Indigo stores.