The forecasted retail trade value in Canada shows a steady upward trend from 2024 to 2028. In 2023, the retail trade value was not provided, but the consistent growth in forecast values suggests a healthy expansion in the retail sector. From 2024 to 2025, the year-on-year growth is 4.1%, and from 2025 to 2026, it is 3.9%. The increase from 2026 to 2027 stands at 3.8%, and from 2027 to 2028, it is slightly lesser at 3.6%. The compound annual growth rate (CAGR) over these five years is approximately 3.85%.
Future trends to watch for:
- Impact of digital transformation on retail operations and customer interactions.
- Consumer behavior shifts towards sustainable and eco-friendly products.
- Integration of AI and advanced analytics for personalized marketing and inventory management.
- Potential challenges from global economic events affecting consumer spending patterns.
