Recent report by Statistics Canada shows that retail sales were on the rise by 2.5 per cent in August this year, compared to a year ago. Three months leading up to August saw a total retail sales rise of 4.6 per cent. Sales trends were softening for the automotive sector, which is credited to moderating the gas prices, while store merchandise was slightly on the rise with 5.3 per cent. The results show that store merchandise has benefited the most during the holiday season.
Canadian dollar has just gone under 90¢ US which is expected to decrease the cross-border shopping that has posed a threat to the Canadian retail sector.
Supermarkets and grocery stores saw a 3.4 per cent decrease in retail sales, which is the same as the previous month’s results. Specialty food stores and liquor stores also experienced sales drops, while health and personal care stores had a %4.3 increase. CJ