Wal-Mart grabs 13 Target Canada locations—what does this mean for the economy?
Business Review Canada recently reported that Canadian Tire will be taking over some of Target Canada’s locations. Interesting enough, Wal-Mart seems to be following the trend. Specifically, Wal-Mart Canada will be purchasing 13 of the locations that formerly housed Targets. $165 million will spent on leases alone, while another $185 million will be used for renovations. If all goes well, renovations could actually begin in a few months. But what does this exactly mean for the economy?
When Target Canada closed their doors, many lost their jobs. However, with the expansion of Wal-Mart Canada, 1,500 trade and construction workers could potentially find employment. Furthermore, the company plans to hire 2,400 people to set up and staff the new stores, as well as an additional 1,000 for the distribution centre that Wal-Mart plans to cease, too.
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As with Canadian Tire, more Wal-Mart stores will be popping up everywhere in Canada, such as British Columbia, Ontario, Ottawa, Quebec and more. With more jobs, the economy in Canada could grow. Here’s how:
Increased consumer spending
Those who were once unemployed will not only have an opportunity to secure a job, but in doing so, they’ll also gain a paycheck that will assist with any financial issues. Increased employee earnings often lead to a higher rate of consumer spending, which helps to benefit various businesses. This, of course, can help with the overall economy and give businesses the chance to thrive.
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Promoting economic growth
Clearly, a high level of unemployment will negatively impact an economy. But if there are more jobs and more money, then consumers will most likely spend more on a variety of goods and services. And if consumers are spending more money on goods and services, then more capital stands to be available for companies and businesses in the area.
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Have a reason to hire
Though new jobs can help an economy grow, it’s important to remember to not hire employees just to hire them. Business owners need to avoid weighing down their company’s revenue, as well as avoid potentially hurting productivity with too many workers. Only hire new workers when there is need that has been proposed by the market or if your store specifically has a demand for new employees.
Giving efficiency the full throttle at NASCAR
The NASCAR organization has long been synonymous with speed, agility and innovation. And so by extension, partnerships at NASCAR hold a similar reputation. One such partner for the organization has been CDW – a leading multi-brand provider of information technology solutions to businesses, government, education and healthcare customers in the United States, the United Kingdom and Canada. CDW provides a broad array of products and services ranging from hardware and software to integrated IT solutions such as security cloud hybrid infrastructure and digital experience. Customer need is the driving force at CDW, and the company helps clients by delivering integrated services solutions that maximize their technology investment. So how does CDW help their customers achieve their business goals? Troy Okerberg, Field Sales Manager - North Florida at CDW adds “We strive to provide our customers with full stack expertise, helping them design, orchestrate and manage technologies that drive their business outcomes.”
NASCAR acquired International Speedway Corporation (ISC) in 2019, merging its operations into one, new company moving forward. The merger represents an important step forward for NASCAR as the sport creates a unified vision to embrace its long history of exciting, family-oriented racing experiences while developing strategic growth initiatives that will drive the passion of core fans and attract the next generation of race fans. CDW has been instrumental in bringing the two technology environments together to enable collaboration and efficiency as one organization. Starting with a comprehensive analysis of all of NASCAR’s vendors, CDW created a uniform data platform for the data center environment across the NASCAR-ISC organization. The IT partner has also successfully merged the two native infrastructure systems together, while analyzing, consulting and providing an opportunity to merge Microsoft software licenses as well.
2020 turned into a tactical year for both organizations with the onset of the pandemic and CDW has had to react quickly to the changing scenario. Most of the initial change included building efficiencies around logistics, like equipment needing to be delivered into the hands of end users who switched to a virtual working environment almost overnight. CDW’s distribution team worked tirelessly to ensure that all customers could still access the products that they were purchasing and needed for their organizations throughout the COVID timeframe. Okerberg adds that today, CDW continues to optimize their offering by hyper-localizing resources as well as providing need-based support based on the size and complexity of their accounts. Although CDW still operates remotely, the company commits to adapting to the changing needs of their clients, NASCAR in particular. Apart from the challenges that COVID-19 brought to the organization, another task that CDW had been handed was to identify gaps and duplicates in vendor agreements that the two former single-entity organizations had in place and align them based on services offered. CDW further helps identify and provide the best solution from a consolidation standpoint of both hardware and software clients so that the new merged organization is equipped with the best of what the industry has to offer.