BCBusiness

July 2014 Top 100 Issue

With a mission to inform, empower, celebrate and advocate for British Columbia's current and aspiring business leaders, BCBusiness go behind the headlines and bring readers face to face with the key issues and people driving business in B.C.

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26 BCBusiness July 2014 ROBERT kEnnEy The $3 Doughnut and Our Gourmet Obsession W hen Cartems Donuts Inc. opened its first pop-up store on Vancou- ver's Downtown Eastside, the gourmet pastry shop routinely sold out of product by mid-after- noon, with customers waiting in line for upwards of 30 minutes to buy $3 dough- nuts. It's easy to doubt the future of a com- pany pinning its livelihood on a single item that can be bought elsewhere for a fraction of the price, but two-and-a-half years later, Cartems has opened a permanent store- front on West Pender Street. According to Tony Chapman, founder and CEO of Toronto-based marketing agency Capital C Communications LP, gourmet brands like Cartems are capturing our imagination by offering more than just a product. "They're not buying the dough- nut—they're buying the experience," he says of customers' penchant to shell out extra bucks for specialty products. In Canada a perfect storm is brewing for gourmet food uptake: an aging population is moving away from "stuff" and toward experiences; a younger generation wants to have and share unique experiences ("something gourmet is a much more interesting thing to post about than something mass," says Chapman); and a growing ethnic population is influencing our food culture with new flavours. Chapman says the individual passion behind these products contributes to the two essential elements of gourmet prod- ucts: substance and essence. People want to know exactly what they're getting, where it's coming from and the authentic story behind it. Here are some of the B.C.-based entre- preneurs successfully getting in on the gourmet action. • The specialty food business is booming worldwide and B.C. entrepreneurs are taking a run at the trend by Kristen Hilderman R E T a i L 3 1 2 p020-029-FL_july.indd 26 2014-05-29 10:12 AM

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