Hudson's Bay is opening up a new outlet store that promises to deliver "extreme savings and "mega deals" which is good but probably says a lot about how bad the economy is going right now.
As Canada's largest department store chain, Hudson's Bay is pretty well synonymous with Canadian shopping and is bringing the deals to you, by reopening a store that already existed and turning it into an outlet.
This time, they're putting the emphasis on savings this time around. That has to account for something, right?
Who knows, let's ask the Hudson Bay Company or HBC for those who love an anagram.
On Thursday, the Greater Toronto Area (GTA, remember, anagrams.) became a loving home to the Hudson's Bay Outlet at Eglinton Square — again.
Located at Victoria Park Ave. and Eglinton Ave. East in Scarborough, the shopping space promises to offer customers a vast selection of incredible brands spanning apparel, accessories, intimates, and footwear.
The store will also supposedly bring in fresh stock every other week, which we assume means clothing and not cattle. Either way, there's a really good chance you'll stumble upon a deal every time you step in there.
Or, as Kosi Sivasankaran, Chief Stores Officer at Hudson's Bay, put it in a recent press release:
"Transforming our Eglinton Square location into an outlet store for customers creates a fun and unique shopping destination, distinct from the Hudson's Bay full-line experience. Now, customers on the hunt for extreme savings will have a dedicated store, delivering a surprise and delight experience through mega deals and offers."
What has yet to be unveiled is just how much you could potentially save, or how much items will be marked down at the new outlet store.
Still, the introduction of a savings-focused outlet amidst the backdrop of economic shifts is nice. And, it's not the only exciting news the folks at HBC had to share.
New loyalty program
The menu screen of the rewards program. Hudson Bay Company
On Tuesday, HBC relaunched its Hudson's Bay Rewards app to offer customers personalized deals based on their individual shopping habits. All you have to do is repeatedly shop at Hudson's Bay or Zellers, either in-store or online, one to build up a cache.
But, those who have fully joined the cult (as in those who possess a Hudson's Bay Mastercard don't have to try as hard) can earn points everywhere Mastercard is accepted.
As for how the new program works, It's sort of like a video game, but for shopping.
You start at 'Hudson's Bay Rewards', and level up to 'Rewards Plus', but if you're really on your shopping A-game, you'll eventually hit the 'Rewards VIP' level.
Basically, the more you shop, the more points you rack up. And just like in games, as you level up, the perks get sweeter.
Here's how the specifics break down:
- Hudson’s Bay Rewards:
- Starting point for all users.
- Earn 1 point for every dollar spent.
- Hudson's Bay Rewards Plus:
- Reach a spending threshold of $400 within a year.
- Earn 1.5 points for every dollar spent.
- Hudson's Bay Rewards VIP:
- Reach a spending threshold of $1,200 annually.
- Earn a whopping 2 points for every dollar spent.
The program also features in-app quests.
These quests highlight customers' personal milestones to enrich their shopping experience. For example, you might be challenged to assemble a complete outfit while out shopping, with valuable bonuses up for grabs upon completion.
Exclusive offers Hudson Bay Company
It's worth noting that these quests are designed with flexibility at heart. There's no rush to complete them, and one can leisurely chase the milestones over time, all while monitoring progress within the app.
Of course, none of these bells and whistles would mean anything if the actual redeeming process was anything less than swift and satisfying — an area HBC promises to deliver in.
As soon as one accumulates 1,000 points, they can claim a $5 discount. This isn't just limited to the purchased items; it can also offset taxes and shipping expenses.
Another standout feature of the Hudson's Bay Rewards program is its vast product assortment, which includes everything from beauty to home decor.
It's a pretty cool program and they know it, as proven by the very floss-worthy statement below, which was provided in a news release by one of the company's heads.
"Hudson's Bay was one of the first to introduce a Rewards program in Canada, and since then we have seen tremendous change in how people are shopping, how they are prioritizing their purchases, and what they are looking for in a loyalty program," said Kevin Parry, VP Credit and Loyalty at Hudson's Bay.
"We wanted to level up our rewards game - giving our customers an exceptional experience that essentially lets them earn more points faster, to redeem for the things they need and want for themselves and their families, and have some fun while doing it," he added.
Sarcasm aside, this dual move of opening an outlet and revamping their rewards program could be a real win for customers.
Impacts on cost of living
And this brings us to an essential context. Canada has been grappling with a noticeable spike in the cost of living. Groceries, rent, fuel – the escalating prices are palpable, and the conversations around them unavoidable. FP Canada's 2023 Financial Stress Index revealed the real, tangible impact of this financial strain.
According to the report, a staggering 48% of Canadians have lost sleep over money-related stress, a concerning rise from the previous year. The data further pinpoints that this anxiety is predominantly among those aged 18 to 54 earning below $50,000 annually.
It's not just about numbers; it's about the very real human experience of financial anxiety. These figures illustrate a troubling narrative of Canadians, young and old, grappling with the pressures of an ever-tightening budget.
Given this backdrop, Hudson's Bay's initiative could be a breath of fresh air. While it's true that shopping isn't the solution to economic woes, affordable options and rewarding experiences certainly make life a little more comfortable.
And who knows, maybe that next deal you score at the new Hudson's Bay Outlet will keep the financial nightmares away.
Now, if only you could get HBC to pay your rent.
This article's cover image was used for illustrative purposes only.