The Source, a successful electronics retailer with locations across Canada, announced today its expansion plans which include the opening of 20 new stores in Western Canada, Ontario, Quebec and Newfoundland in 2013.
This expansion is building upon The Source’s 2012 effort in which it opened 67 locations across Canada bringing its store count to 700.
"The Source's 'small box' format is really meeting the needs of consumers looking for electronics and mobile products," said Charles Brown, president and CEO of The Source. "The pace of change in the industry is so fast that it can make the buying experience feel complex. Our easy-to-shop store format and team of knowledgeable associates are hitting the mark in providing a very accessible and intimate shopping experience that is resonating with Canadians."
Other plans announced by The Source today include a renovation initiative of 50 of its already existing locations in 2013. Renovations will include revamping the store to have a more modern look while also showcasing merchandise such as mobility and accessories, DSLR Cameras, portable audio, streaming audio, Smart TVs and laptops. Renovations will be completed by end of 2013.
The Source expects, by end of 2013, to have renovated or opened over 200 locations, a direct result of efforts to refresh its network of retail stores.
"In spite of the cautious economic forecast, we continue to see strong consumer demand in categories like mobility, headphones and home entertainment with strong brands like Apple, Monster, Nikon, Samsung and Sony helping to drive traffic for us," added Mr. Brown.