The household expenditure on home goods in Canada has shown a consistent upward trend over the past decade. From 2013 to 2023, the value rose steadily from 54.93 billion to 86.95 billion Canadian dollars. Significant growth was observed particularly in 2021 with a year-on-year increase of 11.99%, followed by a CAGR of 5.39% in 2023. The year 2023 recorded a household expenditure of 86.95 billion Canadian dollars, marking a 5.39% increase from the previous year.
Looking ahead, the forecast indicates continued growth, with household expenditure expected to reach 107.63 billion Canadian dollars by 2028. This forecast reflects a 5-year CAGR of 3.37% and a total forecasted growth of 18.05% from 2024 to 2028. Key trends to watch include the potential impact of economic shifts, consumer confidence, and technological advancements in home goods that may drive further growth.
