The forecasted retail trade sales in Canada from 2024 to 2028 show an annual increase, with values rising from 58.87 billion CAD in 2024 to 63.72 billion CAD in 2028. In 2023, the actual retail trade sales were 57.6 billion CAD. Year-on-year percentage variation indicates a steady growth trend, with an increase of around 1.98% in 2024, 2.09% in 2025, 2.03% in 2026, and 1.95% in 2027. The CAGR over the five years from 2023 to 2028 indicates an overall average growth of approximately 2% per annum.
Future trends to watch for:
- The impact of inflation rates on consumer purchasing power and retail sales.
- Technological advancements and e-commerce growth influencing in-store versus online sales.
- Consumer behavior shifts towards sustainability and how this affects product offerings.
- Economic factors such as employment rates and disposable income that might affect retail spending.
