The retail trade value in Canada is forecasted to show steady growth from 2024 to 2028. The values are projected to increase from CAD 60.16 billion in 2024 to CAD 66.87 billion in 2028, marking an average annual growth rate (CAGR) of approximately 2.65% over this five-year period.
Year-on-year variations indicate a consistent upward trend with the following increases:
- 2025: 2.82%
- 2026: 2.73%
- 2027: 2.61%
- 2028: 2.55%
Future trends to watch for include the impact of e-commerce proliferation, advances in digital payment systems, shifts in consumer behavior towards sustainable products, and economic factors such as inflation and employment rates. Additionally, technological advancements in retail operations and supply chain management will be crucial in shaping the sector's growth trajectory.
