Good news for the retail sector in Canada as sales are up almost $42 billion dollars or 18.7 per cent from April’s record low due to COVID-19.
In the latest figures from Statistics Canada every type of retail store saw higher sales except grocery stores which went down two per cent from April’s level.
Sales of cars and car parts increased for the first time in three months, with 66 per cent increase in sales during the month.
Other stores did well like clothing stores (up 92 per cent) sporting goods, hobby, books and music (up 101 per cent) and furniture and home furnishings (up 58.6 per cent). Sales at gas stations were also 17 per cent higher than in April.
Sales were also up in every province, with Ontario’s going up 14.2% following a 30.9% decrease in April. Quebec, Manitoba and the Maritime provinces led the way with higher-than-average increases.
Online Sales Booming
Online shopping now makes up eight per cent of everything sold in Canada according to Stats Can.
Online sales came in at $3.8 billion in May, an increase of 112 per cent from last May’s level. And that figure doesn’t include sales at online-only U.S. stores.
What Is Predicted for the Future?
While May’s surge in spending looks good and June is anticipated to be even better, economists had predicted there would actually be a 20% increase in retail by now.
Overall experts say everything still is up in the air as no one knows how the pandemic will play out over time.
For the full Statistics Canada Report visit the link HERE.
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