Trends and Facts About Retail Franchises
Canada has a strong retail industry that stays strong even during a recession. Canadian consumers continue to make shopping a priority, making for a wide range of retail franchise opportunities for you to explore. Learn more about the facts and trends of the Canadian retail franchise industry here.
1. Total retail sales in Canada increased 3.7% in 2016.
2. Ontario leads Canada’s retail industry, with 94,100 locations and $184.85 billion in sales. Quebec and Alberta follow with $109.04 billion and $75.74 billion in sales respectively.
3. Figures reported from retailers for December 2016 show that the automotive industry and food and beverage industry lead the retail sector in Canada, with other leading industries including building and outdoor home supplies, pharmacies and personal care, and clothing and accessories. Automotive retail franchises, food retail franchises, and clothing retail franchises remain the major segments of the retail franchise industry.
4. Canadians love a good bargain. Fixed-price retailers, warehouse clubs and discount store franchises like Giant Tiger are benefiting from price-conscious and bargain hunting consumers.
5. Shopping has moved online in a big way, but that doesn't spell the end of the brick-and-mortar store. Physical retail locations will just have to come up with creative ways to get shoppers into their stores, and take advantage of the growing online sales. Consumers want to be able to shop from the comforts of their own homes, making online retail sites that are easily accessed by mobile devices a huge advantage in the market.