Halifax's retail sector grew in 2024, says local business observer

Halifax's retail sector continued to grow in 2024, according to a local business observer.

Arthur Gaudreau runs the website Halifax ReTales, which documents the comings and goings of businesses in the municipality.

Gaudreau said more businesses opened than closed this year. He said there were 193 opens and 104 closes, amounting to 1.86 businesses opened for every one closed.

"We're still on the up," Gaudreau told CBC's Information Morning Nova Scotia. 

He compared those numbers to 2020 — the start of the COVID-19 pandemic — when there were 1.22 businesses opened for every one closed.

Although retail turnover was low this year, Halifax still lost some local fixtures, including Canada's oldest hobby shop, Maritime Hobbies on Grafton Street, and beloved eateries like El Chino and Mary's Place Cafe 2. 

'I can't see us not growing again'

The closure of some of these businesses can be attributed to one thing, Gaudreau said. 

"A lot of what we lost was due to development," he said, using the loss of the stores located at a row of historic homes on Queen Street — known locally as vintage row — as an example. 

"That's all being knocked down. So everything that was there is gone." 

Other businesses moved locations, or are in the process of moving, like Xtreme Pizza and Jean's Chinese Restaurant. But new businesses will soon take up the old spaces. 

"There's not a lot of spaces actually opening because when something closes, something's usually right there behind it." said Gaudreau. "There's lots of opportunity and I can't see us not growing again next year." 

What's in store for 2025

Gaudreau said there are new business trends in the city that he expects will continue into the new year. 

"One of the things I'm seeing is we're seeing more of the breakup of the grocery store. So butchers, bakers, that sort of thing," said Gaudreau. "I think that's due to the fact that the grocery stores have gone and infuriated us." 

Haligonians can expect some changes to the Hydrostone Market in Halifax's north end, including a third location of Brown Hound Public House.

"LK Yarns, which was one of the first ones to open when they redid that whole Hydrostone 30 years ago, is moving a few doors down," said Gaudreau. 

Additionally, Gaudreau said people will see a No Frills in the Woodside neighbourhood and more high-end retailers will begin to appear on Spring Garden Road in Halifax in 2025.