What went wrong? Analysts say Hudson’s Bay couldn’t compete [Video]

Retail experts say the looming demise of Hudson’s Bay Co. as a national presence would be a “historic loss” but not surprising, given the retailer’s inability to draw customers into stores.

“The Bay in particular … really struggled to adjust to changes in consumer shopping habits, preferences and the demand for goods,” Jamie Hyodo, an assistant professor of consumer behaviour at Western University, said in a recent interview.

Founded as a fur-trading company in 1670, Hudson’s Bay’s modern heyday was in the 20th century when the store served as a one-stop shop for Canadians looking for quality clothing, cosmetics and home wares, Hyodo said.

But as the retail landscape changed — discount retailers started to become more prevalent in the 1960s and ’70s and luxury brands opened stand-alone stores where they could sell …