Canadian Retail Sales (February 2021) - May 21, 2021

Canadian Retail Sales (March 2021) - May 21, 2021

Canadian retail sales increased 3.6% m/m on a seasonally adjusted basis in March. Sales were higher in 10 of 11 sub-sectors, led by higher sales at garden equipment and building stores.  Excluding more volatile sectors like motor vehicles and gasoline sales, retail sales were up 4.7% in February.  Statistics Canada also released a preliminary estimate for April showing retail sales declined 5.1% as enhanced "circuit-breaker" measures were implemented in many provinces to stem the third wave of COVID-19.

In BC, seasonally-adjusted retail sales were down 1.1% m/m as COVID-19 cases surged through the month of March. Retail sales fell 2% m/m in Metro Vancouver. On a non-seasonally adjusted basis,  BC retail sales were up by 20% compared to the same time last year.   

In March, Canadian e-commerce sales rose 58.5% year-over-year to $3.7 billion, accounting for 6.3% of total retail sales. The share of e-commerce was down 0.7 percentage points as more brick-and-mortar stores were open to in-person shopping.

Link:  https://mailchi.mp/bcrea/canadian-retail-sales-february-2021-may-21-2021

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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.