In 2023, the output of retail in Canada, excluding motor vehicles and motorcycles, was notably significant as a foundational measure for future projections. The forecasted values, expressed in billion Canadian dollars, project a gradual increase from 2024 to 2028. The year-on-year growth rates show a steady upward trend, highlighting the retail sector’s resilience and potential for expansion.

The annual growth rates suggest stability and moderate growth, with the Compound Annual Growth Rate (CAGR) indicating a consistent upward trajectory over this five-year period.

Future trends to watch for include:

Impact of digital and e-commerce evolution on physical retail spaces.
Consumer behavior shifts due to economic fluctuations or environmental considerations.
Integration of technology and sustainable practices in retail operations.
Potential regulatory changes affecting the retail landscape.