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. Per IBISWorld, total retail sales in Canada amount to $585 billion. According to additional sources, as much as 45% of all sales in the Canadian retail sector are from franchise operations.
2. Ontario leads Canada’s retail industry in locations and sales. The next three, in order are: Quebec, British Columbia, and Alberta.
3. Figures reported from retailers show that the automotive industry and food and beverage industry lead the retail sector in Canada, with other leading retail industries including grocery stores, health and personal care stores, clothing and accessories stores, as well as building and garden supply stores.
4. Canadians love a good bargain. Fixed-price retailers, warehouse clubs and discount store franchises are benefiting from price-conscious and bargain hunting consumers.
5. Since the legalization of cannabis in 2018, the retail cannabis franchise industry has been consistently growing.
6. 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. However, while shopping has moved online in a big way, it doesn't spell the end of the brick-and-mortar store. Physical retail locations are coming up with creative ways to get shoppers into their stores, and also take advantage of growing online sales.
7. The Canadian retail market structure continue to change and evolve as foreign retailers increase their presence within the Canadian marketplace.