In 2023, the retail sector's output in Canada, excluding motor vehicles and motorcycles, stood at approximately 160 billion Canadian Dollars. The forecast from 2024 to 2028 predicts a steady increase from 164.07 billion in 2024 to 177.21 billion in 2028, showing resilience and continuous growth. The projected Compound Annual Growth Rate (CAGR) over these five years is approximately 1.9%, indicating a stable upward trend.

Future trends to watch for in the Canadian retail sector include:

Increased adoption of e-commerce and digital retail strategies.
Evolution in consumer preferences towards sustainable and eco-friendly products.
Impact of technological advancements on shopping experiences, including AI and augmented reality.
Potential shifts in economic conditions, such as inflation, affecting consumer spending power.