The gross income of the Canadian retail sector, excluding motor vehicles and motorcycles, is forecasted to grow steadily from 2024 to 2028. Starting at 6.51 billion CAD in 2024, it is expected to reach 7.62 billion CAD by 2028. The year-on-year growth rates showcase a consistent upward trend with variations of approximately 4.3% annually.
By 2023, the gross income stood slightly lower, highlighting a positive growth trajectory. Over a five-year period, this implies an average compound annual growth rate (CAGR) of approximately 4.3%.
Future trends to watch include the impact of e-commerce, sustainability initiatives by retailers, and economic policy changes, which could influence consumer spending patterns and further drive or impede retail sector growth.
