Retail trade sales in Canada are projected to increase steadily from 2024 through 2028, starting at 59.81 billion CAD in 2024, reaching 66.4 billion CAD by 2028. This represents consistent growth, reflective of a healthy expansion in the consumer market. Compared to the actual data from 2023, this growth trajectory indicates a vibrant retail sector, with year-on-year variations suggesting a positive economic climate. Trends over the last two years have shown substantial increases, fostering an environment ripe for continued retail developments. The CAGR over these forecast years suggests a stable average growth annually.

Future trends to watch for include:

Technological advancements in retail, such as AI and e-commerce expansion, influencing consumer behavior.
Sustainability measures becoming more central to retail practice, affecting product offerings and supply chains.
Economic factors such as inflation, interest rates, and currency exchange rates, which may impact retail sales and consumer spending power.