Canadian Retail Sales (August 2021) - October 22, 2021
Posted by Ron Neal on Friday, October 22nd, 2021 at 5:31pm.
Canadian Retail Sales (August 2021) - October 22, 2021
Canadian seasonally-adjusted retail sales rose 2.1% to $57.2 billion in August. The rise was driven by sales at food and beverage stores (4.8%), gasoline stations (3.8%), and clothing and clothing accessories stores (+3.9%). COVID restrictions were generally eased across the country in August. According to Statistics Canada's survey, just 0.6% of retailers were closed at some point in August. Preliminary estimates, based on roughly 54% of respondents reporting so far to the agency, indicate that retail sales declined 1.9% in September.
In BC, sales rose 1% to a fresh record in August, erasing a drop in July. Compared to the same month last year, retail sales were up 8.6% in the province. Only food and beverage store sales, electronics and appliance sales, and health and personal care sales were not up on a year-over-year basis in August. In the Greater Vancouver region, sales rose 2.7% month-over-month and were up 16.2% year-over-year.
In August, Canadian e-commerce sales rose from $2.8 billion to $3 billion. As a result, e-commerce increased from 4.6% of total retail sales in July to 4.9% in August. This percentage is lower than at most points since the onset of the pandemic but is elevated compared to pre-pandemic levels.
For more information, please contact:
Brendon Ogmundson Chief Economist 604.742.2796 bogmundson@bcrea.bc.ca |
Ryan McLaughlin Economist 604.366.6511 rmclaughlin@bcrea.bc.ca |
BCREA is the professional association for more than 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research, and standard forms to help REALTORS® provide value for their clients.
To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.
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The Neal Estate Group is your #1 source for all of your Victoria BC real estate needs. Get in touch with us online or by phone at (250) 386-8181 to speak with a Victoria real estate buying or selling expert today. With decades of experience as a top selling Victoria REALTOR® and ranked in top 1% globally with over 5,000 transactions and $1 Billion SOLD, Ron Neal & The Neal Estate Group have the industry experience and market knowledge to help you make smart and informed buying or selling decisions.