Retailer is a successful business story that generated $18-billion of income for Canadians in 2021
Not many companies in Canada make it to their 100th anniversary – and even fewer do so with the respected reputation and quantifiable community impact of Canadian Tire.
“There are so many moving parts when analyzing the company’s 100-year history, which is an increasingly rare example of a successful Canadian business story,” says Philip Cross, senior fellow at the Fraser Institute, a public policy think-tank.
Cross independently reviewed Public First’s Canadian Tire Corporation Economic Impact Report, which analyzes Canadian Tire Corporation (CTC) and its Associate Dealers. CTC commissioned the report from Public First, a global strategic consultancy, to mark its centenary and explore and quantify the company’s impact on Canadian consumers, businesses, workers and communities. Data in the report was sourced by polling individuals across Canada, CTC financial statements and disclosures, and other information supplied by the corporation and its Associate Dealers.
Cross spent 36 years at Statistics Canada, the last few years as its chief economic analyst. “I’ve expressed a lot of concern in my work on the Canadian business community about the decline in innovation, and [the decline] of Canada’s business presence on the world stage,” says Cross, who wrote the foreword to the report. “We’ve seen so many iconic Canadian firms falter over the past decade. So it was a pleasure to be part of a story that highlights how Canadians can innovate and succeed.”
Cross referenced major Canadian businesses that have faltered or gone out of business entirely, such as Nortel Networks Corporation, Eaton’s and Bombardier Inc., noting that Canadian Tire, on the other hand has flourished, consistently positioned at the forefront of the country’s retail industry, even amid the arrival of U.
S.-based retail giants such as Walmart Inc., Home Depot and Target Corporation.
According to the findings of the Economic Impact Report, an estimated $150-billion in economic impact over the past decade has been generated by Canadian Tire Corporation and its Associate Dealers.
Today, more than 500 stores across Canada are run by a network of independent entrepreneurs known as Associate Dealers, who are responsible for creating a retail plan, hiring staff and building a business with products that meet the needs of the communities they serve. This has resulted in a significant number of Canadians finding employment; the report estimates that 1.8 million Canadians have worked at a Canadian Tire, a SportChek or a Mark’s store (both of which are part of the CTC Group of Companies) in the past.
And Canadian Tire stores are a hub of support for other entrepreneurs and small- to medium-sized businesses. Approximately 58 per cent of Canadian Tire store customers surveyed say that they regularly shop at another business while visiting a Canadian Tire store.
In total, CTC supports more than 4,000 Canadian businesses across the country. And, for every $1 in profit earned by CTC in 2021, an estimated $14 was generated for other businesses and workers across the Canadian economy.
What really stood out for Cross was the $18-billion in gross value added (GVA) in 2021, which is equivalent to approximately one per cent of gross domestic product.
“That’s significant,” he says. “Basically, it says Canadian Tire generates $18-billion of income for Canadians. To give you an appreciation of how much that is, that’s more than all of the arts, entertainment and recreation industry in this country, which is $14-billion. It’s about the same as all the crops this country produces: $17.7-billion. Auto assemblies, including parts in this country, generate $12.5-billion of income. For one company to drive that is impressive and shows just how much Canadian Tire has worked itself into the Canadian economy.”
The numbers are one way to measure the retailer’s impact.
But the report also highlights the deep connection between Canadians and Canadian Tire.
From its humble beginnings in 1922 – when two young Toronto brothers, J.W. and A.J. Billes, launched their own business in car parking – Canadian Tire is one of Canada’s most beloved companies. With more than 500 retail locations nationwide, it remains the go-to destination for Canadians who are preparing for a trip outdoors, looking for new sports equipment, needing to service their car or taking on a home renovation project.
In the report’s customer testimonials, people talked about how their father bought their first bike using Canadian Tire money, or the time they got their first pair of skates, or how their local Canadian Tire is the place to find uniquely Canadian gifts for friends and family.
“I mean, obviously, being a statistician, the numbers strike me first,” Cross says. “But just as important in reading the testimonials is how much Canadian Tire has become an integral part of the fabric of Canadian life.
And that’s something that you really can’t capture in numbers … just the way people identify with it as a symbol of Canada. There’s not a lot of business symbols in this country that are symbolic of Canada.”
In the report, 54 per cent of Canadians surveyed agree there is no store quite like Canadian Tire. And when people were asked which stores listed in the survey they would miss if they moved away from Canada, almost half (47 per cent) chose Canadian Tire stores.
Sixty-eight per cent say they are proud of Canadian Tire as a Canadian company. Consumers see it as one of the last remaining truly Canadian companies, a company committed to stocking its shelves with Canadian-made or -designed products, scoring high under words or statements such as “trustworthy” and “care about Canadians.”
“I mean, that’s getting under people’s fingernails,” Cross says. “That’s really connecting with people on an individual and local level.”
CTC’s commitment to responsible retailing, in particular its connection to supporting amateur sports, is a big factor in that.
Hockey is Canada’s national game, and Canadian Tire is the largest hockey retailer in Canada. But sports are equally fundamental to the company’s community outreach.
In 2021, CTC and its Associate Dealers helped generate $36.7-million in charitable donations for Canadian Tire Jumpstart Charities (Jumpstart), which is dedicated to helping kids overcome barriers to accessing sport and recreation.
In the report’s polling, more than 2.5 million Canadians say that they know someone who has benefitted from Jumpstart, which has raised more than $200-million in funds since 2005.
In providing equal and inclusive access to local sports, helping communities grow and thrive, and helping children become more active, healthy and confident, the charity has contributed to the positive view Canadians have of the company.
“Being ‘Canadian’ is nice, but it isn’t enough,” Cross says. “People are not going to buy your products just because you’re Canadian. You can’t just plant a flag out front and say, this is going to make us a successful retailer.
“Canadians also want value for their money. They’re going to want you to back up the products that you sell and they’re going to want it at that competitive price. And you have to deliver on all those fronts.”
According to the report, it is estimated that Canadian Tire stores in total create $14.6-billion in consumer surplus – a measure used by economists that looks at what consumers would have been willing to pay for a product and still felt that they were getting their money’s worth.
“Canadians feel that what they are buying from Canadian Tire is giving them value almost twice as much as what they’re paying,” Cross says. “That’s value for money. That’s more than getting your money’s worth. And it’s because of that large consumer surplus that there’s this feeling that, yes, I got a real bargain, and I got more than I paid for. That’s why people go back. That’s the basis of successful retailing.”
Advertising feature produced by Globe Content Studio and Canadian Tire Corporation.
The Globe’s editorial department was not involved.
About Canadian Tire
Canadian Tire Corp. Ltd. operates as a general merchandise retailer for gasoline, automotive, sports and home products. The company operates through three segments: Retail, CT REIT and Financial Services. The Retail segment comprises of the living, playing, fixing, automotive, seasonal & gardening, apparel and sporting goods categories. The Financial segment services markets a range of Canadian tire branded credit cards, including the Canadian tire options mastercard, the cash advantage mastercard, the gas advantage mastercard and the sport chek mastercard. Financial services also markets insur... Read More
Canadian Tire Corp. Ltd. operates as a general merchandise retailer for gasoline, automotive, sports and home products. The company operates through three segments: Retail, CT REIT and Financial Services. The Retail segment comprises of the living, playing, fixing, automotive, seasonal & gardening, apparel and sporting goods categories.
The Financial segment services markets a range of Canadian tire branded credit cards, including the Canadian tire options mastercard, the cash advantage mastercard, the gas advantage mastercard and the sport chek mastercard. Financial services also markets insurance and warranty products. The CT REIT segment involves owning, developing and leasing income-producing commercial properties. Canadian Tire was founded by Alfred Jackson Billes and James William Billes in September 15, 1922 and is headquartered in Toronto, Canada. Read Less
Canadian Tire Company Stats
IndustryRetailing
Founded1922
HeadquartersToronto
CountryCanada
Chief Executive OfficerGreg Hicks
Employees33,892
#1269
#955 - SALES
#1213 - PROFITS
#1695 - ASSETS
#1787 - MARKET VALUE
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$13B
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$560.5M
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$11B
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$15.1B
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$586.6M
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$10.8B
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$12.7B
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$534M
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$11.3B
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$546.9M
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$11.4B
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$12.8B
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$544.7M
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$11.5B
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$13.2B
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$501.4M
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$10.2B
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$9B
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$8.8B
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$456.5M
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FactSet, Bloomberg, S&P Cap IQ; Forbes.
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Canada tires are a very important part of a car because they are the only part of the car that comes into contact with the road.
Every movement of the driver, whether it is turning the steering wheel or braking, is transmitted to the road through the wheels. So your car's performance will most likely be determined by the tires you ride.
There are many tire factors that affect the behavior of a car. For this reason, the price and appearance of a tire should not be your top priority when buying tires from TirePlanet. Below is a list of additional factors to consider when buying wheels.
Choosing the wrong type and size of tires in Canada can really hurt you. That is why it is important to know the size and type of wheels your car needs. You can find this information on the side of your current tires or in your owner's manual. You can search the web by filling in your car model, year and make. Tire type and size are also listed in the owner's manual.
Another important characteristic is the speed rating. The higher the speed index, the more heat the tire can dissipate.
If you don't drive long distances, choose wheels with a lower speed rating. Don't forget to check the load rating. This tells you the load capacity of a particular tire and is written on the side of the tire. Make sure you buy one with a high load capacity.
Once you have determined that your tires are wearing out and need replacing, the next thing to think about is where to buy a replacement. There are many options; You can purchase them from your local retailer or online stores.
Drivers are encouraged to purchase Canada wheels from local retailers because there will be no additional shipping charges. Their prices are also reasonable and they advise their customers on the best tires to buy. If you choose online stores, learn more about the store. Read their reviews and find out the total cost of the purchase.
The roads you drive on matter a lot. Tires for driving on asphalt are different from those that drive on city roads. Considering what you need from a tire and what you want tires to do for you, don't oversell or buy more than you need. Wheels will cost you for no reason.
When buying tires from Canada, you most likely want to save some money on the purchase and operation of wheels. One thing you should know before you go shopping for tires in Canada is that tires come with different fuel consumption (many car owners may not be aware of this as the correlation between tires and fuel consumption is not so obvious).
Choose good quality but also consider low fuel consumption. Also note that most tire manufacturers do not prioritize fuel economy. The best economy tires are the original tires that your car comes with. Choosing economical tires means long-term fuel savings for your vehicle.
ca There are many reasons why you might want to consider using used tires. The most obvious of these is the price factor. Used tires online Canada are cheaper than new tires and they have their advantages and disadvantages. Most drivers buy new tires to make them last longer and better. If you decide to buy used tires, factors such as tread wear and year of manufacture must be taken into account.
As tires age, their expiration date approaches and it can be dangerous to drive on tires near the expiration date. Choose used tires with a recent date of manufacture. They should also be cheaper than new tyres, as that's the main reason you choose them anyway. Because if they cost the same, what's the point of buying used?
Tire price Canada is one of the most important factors to consider. In terms of pricing, tires fall into three categories: premium, mid-range and budget. Since Canada's premium tires are the result of months of research and development, they cost more.
In addition, their quality, tread, materials and performance are undeniable.
Mid-price tires can still perform comparable, but material quality is not as good as premium tires. Finally, while budget tires may offer a better price, you may have to sacrifice overall tire life.
It is extremely important to check the tire code printed on the sidewall of your Canadian tire before purchasing tires. Weight and speed, rim diameter and aspect ratio are defined by this code. Understanding this code will enable you to make more informed decisions when purchasing new tires in Canada.
The first three digits indicate the distance between the sidewalls (in millimeters). Then the ratio of height to weight of the tire is indicated by a two-digit number. After these numbers, you will often see the letter "R", which indicates a radical design, followed by a number indicating the diameter of the wheel. In addition, load index and tire speed index are also available.
Reading customer reviews before buying is easier than ever, and Canada tires are no exception. While it may not be as exciting as reading other reviews, doing some research before buying tires can help you get exactly what you want.
Learn more about how the tire can help save fuel, how long it lasts for other people, how much noise it makes, how well it handles, and if there are any known issues or perceived feedback.
Heavy weather tires are essential for car owners who live in areas with harsh weather conditions. Winter tires are designed to provide increased grip when driving on snowy and slippery roads. As a result, car owners should consider investing in weather-matched wheels to improve stability, grip and performance.
When evaluating tire prices, remember to consider the manufacturer's warranty. Most tires in Canada are covered by some form of manufacturer's warranty; make sure you know what your warranty covers and what doesn't.
Surprisingly little coverage is offered by many warranties. Worth paying a little more for a tire with a good warranty if you can find one.
Car tires need to be serviced regularly. The best brands require a lot of attention because maintaining a high level over a long period of time requires caution. Consult a garage to check your tires regularly in Canada. You should also make it a habit to check your tire pressure. In this case, the convenience and cost of maintenance are important considerations.
When buying tires in Canada, remember that your safety is paramount. While price will play a significant role in your final decision, always do your research to find the best deal.
Fri, 02/14/2020 - 01:30 / 0 Comments
In North America, it's quite common for leading manufacturers to create tires specifically for large distributors, and, for example, not so long ago, spy photos of the long-awaited new Ford Bronco showed up Goodyear Wrangler Territory tires, , which were originally developed specifically for the trading company Canadian tire.
In the winter season 2019/2020, two tires for customers from this segment were presented at once by the German Continental, which entered into corresponding agreements with Canadian Tire and Groupe Touchette again. Both companies are based in Canada and both tires are designed for winter use.
Canadian Tire developed the Continental WinterContact SI Plus non-studded tire, which hit the market at the beginning of the winter season. The tires feature a directional V-pattern to help evacuate water from the contact patch, while the groove walls are ribbed for increased traction on snow, a technology the company calls Traction Grooves.
Traction Grooves
Silane additives (a technology called PolarPlus+) have been added to the rubber compound to increase traction on slippery surfaces, and the tires are also equipped with an indicator system to assess correct wheel alignment/camber.
Alignment/camber indicators
Continental WinterContact SI Plus available in 30 sizes from 185/55 R15 87H XL to 235/55 R19 105H XL.
Winter non-studded
Cars
Scandinavian type
Continental designed a studded tire called Continental IceContact XTRM 9 for Groupe Touchette, the largest tire distributor with Canadian owners.0078 . It would seem, why produce a tire for this segment, if the third generation IceContact was introduced relatively recently, and even with innovative rubberized spikes, but this model is not on the Canadian Continental website, so they were not officially brought to the local market.
“IceContact XTRM will greatly contribute to confirming our status as a leading winter product dealer,” says Frédéric Boutillier, GT COO. “The collaboration with Continental has allowed us to be actively involved in the development of a new exclusive tire. By joining forces with German engineers who are able to take winter tire technology to the next level, we are now able to offer a product designed for Canada that is of the highest quality.
