While declining from the heights of last year, retail sales growth in Canada continues to outpace most of the world, including the US, EU, and UK.
- Canadian Consumers have higher savings than pre-pandemic, which should help cushion the (declining) effects of inflation in 2023.
- Retail rents reached record highs for most enclosed centres in Q1 of 2023.
- Retail sales growth is strongest in areas of Canada with lower cost of living and significant migration from the rest of the country.
- Retail is increasingly dominated by private investors, who see upside in demographic trends, the lack of competition, or the value of land contained in retail assets.