Recently, according to Forbes magazine's ranking of the most suitable countries and regions for business in the world in 2023, Canada, which ranked first two years ago, has dropped to eighth this year. Despite this, the skinny camel is bigger than the horse, and the US retail industry still sees the Canadian market entering one after another, leading to a more intense Canadian market. It is expected that supermarkets in the country will have a significant price reduction in dairy products, eggs, or frozen vegetables next year.
According to a recent report from the Canadian Chinese Network, Tushe Global conducted an annual ranking of the most suitable countries and regions for business, targeting 145 countries through eleven evaluations, including property rights, innovation, taxation, technology, corruption, as well as personal, trade, and monetary freedom, as well as performance in business restrictions, investment protection, and stock markets. Although Canada still ranks in the top ten, there has been a significant decline compared to previous years. It is reported that Canada ranks eighth this year, fifth last year, and even topped the list the year before. The first place this year was won by Ireland, followed closely by New Zealand, Hong Kong, Denmark, Sweden, Finland, and Singapore. It is worth noting that the United States has fallen to 14th place, marking the fourth consecutive year of decline, mainly due to the Federal Reserve's loose monetary policy, which has led to price distortions and long-term inflation risks.
Perhaps due to the worrying business environment in our country, American retailers are entering the relatively better environment of the Russian market. According to the food price research report made by the University of Guelph in Ontario, as Wal Mart continues to increase its food products, Target in the United States has also opened stores in various parts of Canada, resulting in competition pressure on Superstore and its parent company, Canadian supermarket leader Loblaws and Empire Co., which operates Sobeys supermarkets.
Therefore, this research report shows that cheese, eggs, milk, pasta, and frozen vegetables may all experience price declines next year; The industry's practice of lowering prices for these foods is aimed at attracting consumers to come and gain higher profits in other products. Due to competition from the US retail industry, there is room for price reductions in dairy products, eggs, and frozen vegetables next year.
Regarding this, Huang Minqiang, spokesperson for Datong Hua Supermarket, said that he has not heard of any specific product price reductions next year. However, he said that supermarket peers always compare prices with each other and do not want consumers to leave the impression that a certain supermarket is more expensive. Therefore, just as businesses adjust prices for certain products, other businesses may follow suit.
