In 2023, the production of retail trade (excluding motor vehicles and motorcycles) in Canada was recorded at 156.00 billion Canadian dollars. The forecast for 2024 indicates a value of 158.33 billion Canadian dollars, with a steady upward trend up to 167.91 billion in 2028. Year-on-year percentage increases show modest growth, reflecting stability in the sector. Specifically, growth rates from 2024 to 2025 and 2025 to 2026 are expected to be approximately 1.56% and 1.51%, respectively. The compound annual growth rate (CAGR) for the forecast period (2024-2028) is projected at 1.48%.

Future trends to watch for:

Impact of digital transformation on retail operations and consumer behavior.
Shift towards sustainable and ethical consumption influencing supply chain strategies.
Potential macroeconomic fluctuations affecting consumer purchasing power.
Growth of e-commerce and changes in retail space utilization post-2024.