The value added of the retail trade sector in Canada, excluding motor vehicles and motorcycles, is forecasted to grow from $96.0 billion in 2024 to $101.66 billion in 2028. This reflects a steady annual growth rate, with each year seeing an increase in the value added. The compound annual growth rate (CAGR) over the five-year forecast period (2024-2028) is approximately 1.42%, indicating consistent growth in this sector.

Key trends to watch for in the future include:

Technological integration and digital transformation in retail operations.
Changing consumer preferences towards online shopping.
Impact of economic factors such as inflation and interest rates on consumer spending.
Evolving regulatory and environmental considerations affecting retail practices.