Downtown Vancouver
Downtown Vancouver is a metropolitan area with diverse cultures. The district has a considerable number of Asian residents, and almost half of the city speaks a different language other than English, which is the National language. When an area has diverse cultures, it means that people also have different tastes and buying habits. Launching a mall in the area would make it possible to cater to the various wants and needs of the population; this will, in turn, attract more customers. According to findings from a census carried out in 2011, the city recorded a population of 54690 people, a different census carried out later in 2016 recorded that the number was 62301, this marked a 13%increase from the latter. The recent trend of population increase in the city is not expected to stop anytime soon because of the rampant immigration of people from neighboring countries.
The population trend in the city provides an opportunity for investors, building a mall in the area will allow for the satisfaction of most recurring needs of the population. The area also boasts of natural resources like the Fraser River, which is very strategic because it promotes local trade and tourism in the area. The rising population in the region comprises of people aged between 20-39 years. A census carried out in 2016 indicates that this age group makes up 50 % of the total population. A place full of a youthful population provides an opportunity for the establishment of a mall that can satisfy the variety of wants that youthfulness brings about.
Most of the people in downtown Vancouver are young professionals and laborers who have a source of steady income who are mostly interested in fitness. It would be a good idea to include a gym in the mall to attract more people. Also, previous research in the area shows that most of the population have small households. The number of families living in the region has only increased from 12500 to 14600, and this is only a tiny percentage compared to the rate of population increase. Based on the statistics, it is clear that most of the people in downtown Vancouver are mostly living alone with no families. If people have no families, it means they have fewer responsibilities, and this, in turn, allows them to have more disposable income. If the population has more disposable income, they are more likely to invest more and spend money on luxuries.