Retail kept accelerating in September, following a solid trend that started in July. While most of it is likely seasonal, the volume of transactions has far exceeded 2023 levels, which allows us to speculate on the beginning of a recovery, and more hirings in the retail trade sector.
Details per type of retailers
Looking in the details, sales were up in 6 of the 9 subsectors of retail trade. Companies in the 2 following subsectors have seen an substantial increase:
Building material and garden equipment and supplies dealers (+3%), as we approach the seasonal year-end.
Food and beverage retailers (+3%), led by supermarkers and grocery retailers, along with liquor retailers (up for the first time in 3 months as we are entering holiday season as well).
Some increase (although not materially high) have been seen in:
General merchandise retailers,
Health and personal care retailers,
Funirture, electronics and applicances retailers.
On the other hand, gas stations and fuel vendors have seen a significant slowdown, at -2.3%. While volume increased by approximately 3%, lower prices have driven the sector down this month.
Among the two other subsectors that declined, motor vehicle and part dealers (-0.7%), and clothing retailers (-0.8%).
Details per geography
Five provinces have seen an acceleration, with the largest being in Alberta (+2.3%).
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