Between 2024 and 2028, the forecast for self-employed people in the retail sector in Canada indicates a gradual decline in activity, decreasing from 102.79 million hours in 2024 to 99.17 million hours in 2028. This represents a cumulative annual growth rate (CAGR) that suggests an average shrinking of this metric each year. Compared to 2023, the year-on-year decline from 2024 through 2028 reflects a consistent decrease, highlighting a possible trend of contraction in self-employment within this sector.
Future trends to watch for:
- Rise of e-commerce influencing traditional retail models.
- Impact of digitalization on self-employment opportunities.
- Changes in consumer behavior and their effect on small retailers.
- Potential growth areas in niche markets adapting to digital trends.
