Apart from owning and running a media company, Craig Patterson is an experienced writer, researcher, retail analyst, retail and real estate consultant, public speaker, subject matter expert, and, more importantly, the founder, CEO and publisher of Canada’s leading retail industry news magazine, Retail Insider.
Craig has studied the Canadian retail landscape for over 25 years, holds a Bachelor of Commerce and Bachelor of Laws Degree, and is a former manager at Access Pro Bono Society in BC.
He is keenly interested in real estate, shopping centres, urban planning, demography and Canadian retailing, and regularly lecture/speak on related topics.
Craig is also an Advisor at the University of Alberta School of Cities and Communities and is a Research and Special Projects Consultant with the Retail Council of Canada.
Under his guidance, Retail Insider creates daily exclusive news articles and retail insights that reach more than 2.5 million readers annually, most being decision-makers in the competitive Canadian retail industry.
Craig has built a team of experienced writers, editors and expert analysts from across Canada who inform on the industry through the platform’s daily newsletters, which reach over 20,000 unique readers daily and whose mailing list includes senior business leaders who control billions of dollars in spending every year.
Retail Insider has two podcasts, ‘The Interview Series’ hosted by Craig, and ‘The Weekly’ co-hosted with Lee Rivett (Publication Support & Operations).
The podcasts cover the popular articles from the week with additional retail insights and expert commentary. Special edition podcasts are also recorded for notable retail events and are part of sponsored content opportunities featuring a curation of guests. Retail Insider is monetized to offer a variety of sponsorships and advertising channels that focus on particular sections of its audience or perform an integrated campaign to reach a mix of web visitors, daily newsletter subscribers, podcast listeners and social media followers.
Retail Insider is building its online presence, and as it grows, so does the demand for Craig’s insights. In the past year, he has been a special guest speaker at numerous industry events for companies like SalesForce, LVMH, and Tiffany & Co.
IN HIS WORDS
“I didn’t realize I was an entrepreneur until after I had started a blog that began to make some money through advertising. I had a dual life – lawyer by day and retail blogger at night! Back then, it would be impossible to know what Retail Insider would become as it started as a hobby.
“Retail Insider now has over 25,000 subscribers and hundreds of thousands of monthly readers.
“We publish thousands of articles yearly and have connected with the likes of Richard Baker (Governor of HBC), designers Jean Paul Gaultier, Virgil Abloh and others, not to mention well-known individuals in the retail and related industries, including some interesting billionaires.
“I have always had a fascination with retail since childhood. I fondly remember my Aunt telling me what retail I should visit in Minneapolis when I played hockey there at 13. I was impressed with the downtown stores, such as Dayton’s and Saks Fifth Avenue, and was blown away by the new Mall of America when it opened in 2002. In Canada, I became acquainted with Holt Renfrew and the retail in downtown Edmonton, which was vibrant at the time. I had already been familiar with retail. After hockey practice or a hockey game in the town of Cold Lake, where I grew up, I’d sneak to the library and read fashion magazines. It was definitely not something encouraged for a young man in small-town Alberta. I would read about retailers and brands and imagine designing stores (which I did out of Lego, when I wasn’t drawing them). I also remember being a child of about five years old visiting my Aunt who worked at a massive Woodward’s department store in Edmonton – so it really has been a life-long passion!
“Now that the world has re-opened, I would love to explore new locations, including the department stores in Japan and South Korea, see the latest on the luxury high streets in Europe, and maybe even pop into a mall in Dubai to experience the best experiential retail.
“Interestingly, due to publishing, Retail Insider invites for events worldwide began to arrive! The most surprising is the request to go to Africa to work with a team on the revitalization of a national economy. Unfortunately, I had to pass on that one – too many obligations right here in Canada.
“Like any business venture, the road has been, at times, bumpy. Early on, one of my first advertisers became a friend, and the relationship started on the wrong foot as they pitched something that I felt should have been sponsored, and this person pushed back. Eventually, they agreed it should be sponsored, and we worked together on it and are still friends today.
“One of my worst business career experiences resulted from not thoroughly vetting a business partner.
“About a decade ago, I was approached by someone who wanted to provide editorial content for my blog, and we eventually agreed to create a related publication.
“At the time, I was not aware that this person had been diagnosed with a severe mental health disorder and had chosen not to accept medical treatment. As time went on, the situation became very frightening to the point where my business and person were being threatened.
“A simple court record check would have been enough to stop the whole trainwreck that spilled into all aspects of my life, but when you are starting out, everyone seems trustworthy. The entire experience taught me to scrutinize who I associate with and the importance of protecting my business. Believe me when I say I have the Court Services Online link in my bookmarks!
“My entrepreneurial journey really began when I worked part-time at the University of Alberta and on various consulting projects in Canada and the United States to make ends meet while I was in the early days of developing Retail Insider.
“It was slow and steady as I grew the publication’s readership and advertisers. We’ve continued to grow as I’ve added some valuable employees who have helped also grow the business.
“When the daily visits to Retail Insider hit 10,000, I knew I was onto something. Retail-Insider was becoming a go-to for not only retailers but for brokers, landlords, designers, builders, and almost anyone doing business with the Canadian retail industry.
“This was evidenced by the budding relationships that I had with Martin Moriarty of Marcus & Millichap (formerly CBRE), Jay Freedman of Oberfeld Snowcap, Jeff Berkowitz of Aurora Realty Consultants, Arlin Markowitz of CBRE, and numerous other big players.
“My first speaking engagement after starting Retail Insider was in 2013, and it was my teaching classes at the University of Alberta. “I had been invited after they learned who was behind Retail Insider — at the time, the University had a retail-focused school.
“I was so terrified, I had to sit on a table at the front of the room to lecture. I’ve since become very comfortable speaking to groups and have spoken at various conferences (ICSC, Retail Council of Canada’s STORE Conference, eTail Canada Conference, DX3, and many others).
“I’ve also spoken to smaller groups, including associations and private companies, with names such as LVMH, Tiffany & Co., Cadillac Fairview, and the Canadian Jewellers Association.
“Nowadays, I love speaking to groups large and small, and I plan to expand on this and turn it into additional opportunities for growth.
“When we started the Retail Insider podcast, we aimed to reach other passionate retail enthusiasts. I am finding that we are connecting with a variety of listeners, from decision-makers to the casual observer. So far, we have completed over 215 podcasts and in 2024, we have plans for even more.
“One of my favourite podcasts was a video interview with Mark Cohen, Professor at Columbia University and former head of Sears Canada. He tore Nordstrom‘s business model apart and said he wasn’t surprised it failed in Canada, saying that the Hudson’s Bay Company had no future and that most international retailers entering Canada would fail.
“It was so educational and honest (not to mention inflammatory) that I had him on for a second time to discuss what makes a great department store! “As Retail Insider grew, I began to enjoy the freedom of being the boss while also having to learn how to keep on track because I was the boss for the first time.
“As my business grew, I met more interesting people, developed more connections, and developed something of a “glamorous” life, at least on social media, where I’ve been able to attend exciting events and go to interesting places.
“I’ll admit I neglected romantic relationships while I built the business, which was a personal choice more than anything else. “Pre-pandemic, my business was much smaller, though I was not struggling. The pandemic actually resulted in a boost for Retail Insider, given that it was already a digital business.
“We were able to pick up some high-paying advertisers that otherwise would have given money to in-person events, and today, we continue to develop relationships with new advertisers. Our pricing is higher, given precedent and demand.
“I admit that there hasn’t been a pivotal moment when I knew Retail Insider would work out, but I’ve had faith in the process and that success can be had. “Being an entrepreneur is a leap of faith in many respects, and having confidence in yourself and the world is essential for motivation and the will to keep going.
“To facilitate advertising and growth – I hired two advertising managers and two Editors-in-Chief’s – one for Retail-Insider.com (launched 2012), the new Retail Insider Magazine (2023) and the new video podcast channel.
“Canadian retail is a $800 million annual business that attracts global players. We are not a small fish in a big pond. The amount of international money flowing into the cash registers across the country is staggering, and every one of those dollars affects the communities it is spent in.”
“For our advertising clients, Retail Insider is reaching over 500,000 people monthly, and the entities that work with us include brokerages, landlords, retail tenants, design firms, construction companies, security firms, tech companies, and pretty much any company that is involved with the Canadian retail industry.
“Along this journey, so many key people have believed in what I was building. Some are long gone, but others, like Lee Rivett, who still works with Retail Insider today. Lee was instrumental in supporting the business and myself during its growth and I am grateful for his encouragement of me to be healthier, more confident, and present.
“Dustin Fuhs helped develop the news publication to something much bigger than when I was running it myself, and he continues to handle editorial decisions.
“Sean Tarry developed and produced our magazine publication, which is beautiful and engaging.
“Key team members include Darryl Julott and Tyler Mercer from our advertising team, Geetanjali Sharma for handling social media and our parallel SEO business, and our team of journalists, including Senior Editor Mario Toneguzzi, and back-end support.
“I wouldn’t feel comfortable leaving out two colleagues and long-time friends – Helen Siwak, who has been a fashion and retail inspiration, and Ritchie Po, who encouraged me to start a blog because I wouldn’t shut up talking about retail!
“Over the years, I have kept our business model simple, but with growth always comes complications. The team and I are ready to meet any new challenges that we are presented with.
“We have a news publication funded by advertisers, a magazine funded through advertisers, and podcasts, and now we’re looking for in-person events with sponsorship for 2024.
“To grow, Retail Insider needs more funding and new ideas for revenue streams to propel things forward. My goal is to develop our video channel into something more compelling, and I’d like to expand my team to begin strategizing and creating meaningful in-person events.
“By the end of 2024, I see Retail Insider as a profitable business with a solid editorial news publication, magazine, podcast/video channel and in-person events.
“While expanding revenue is part of the goal, we strive to be the best Canadian retail industry news publication possible. That said, I am in talks to co-found an e-commerce-related publication, but I’m being careful about a bigger expansion, potentially into the US, if the opportunity presents itself.”
Author Profile
- Helen Siwak is the founder of EcoLuxLuv Marketing & Communications Inc and publisher of Folio.YVR Luxury Lifestyle Magazine, PORTFOLIOY.YVR Business & Entrepreneurs Magazine, and digital women's lifestyle magazine EcoLuxLifestyle.co. She is a prolific content creator, consultant, and marketing and media strategist within the ecoluxury lifestyle niche. Post-pandemic, she has worked with many small to mid-sized plant-based/vegan brands to build their digital foundations and strategize content creation and business development. Helen is the west coast correspondent to Canada’s top-read industry magazine Retail-Insider, holds a vast freelance portfolio, and consults with many of the world’s luxury heritage brands. Always seeking new opportunities and challenges, you can email her at helen@ecoluxluv.com.
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