Fall 2017 Key Highlights
• Retail sales growth across the country continues to build on the positive performance of 2016, with national retail sales predicted to grow by 7% to reach approximately $590 billion by the end of 2017.
• The demise of Sears is unlikely to have a notable impact on the national retail market as it has long been a minor player among numerous strong competitors. Statistics indicative of overall retail performance display just how significantly it has already been surpassed by the likes of Walmart, Canadian Tire, and Costco.
• Colliers expects positive overall retail sales growth in each province, with particularly strong years in BC and Ontario which account for just over 50% of Canada’s total sales volume.
• A strong holiday season.
• Some of the factors that are positively affecting national retail sales include:
- The weak Canadian dollar resulting in less spending outflow to the US;
- The Liberal government’s proposed increase to the Child Benefit Grant;
- Continued strong residential real estate values and rising equities markets leading to feelings of job security and consumer confidence.