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Canadian Retail Sales (Sept) - November 20, 2020

Posted by Ron Neal on Friday, November 20th, 2020 at 6:40pm.

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May30-1
 

Canadian Retail Sales (Sept) - November 20, 2020

Retail sales rose for the fifth consecutive month in September by 1.1% on a seasonally-adjusted basis, which is higher than Statistic Canada's preliminary estimate of no change. Sales were up in 9 of 11 subsectors, representing 93.2% of retail sales. The increase was led by higher sales at auto dealers. General merchandise stores increased for the first time in three months, while sales bounced back at furniture and home furnishing stores. Compared to the same time last year, retail sales were up by 8%.    

Sales were up in eight provinces in September, with notable increases in PEI (4.4%), New Brunswick (3.8%) and Alberta (2.5%). In BC, seasonally-adjusted retail sales were up by 1.7% ($7.8 billion) and by 0.9% ($3.6 billion) in Vancouver. Retail sales were up in almost half of the subsectors, driven by increased sales at auto dealers, while a notable decline was reported at grocery and liquor stores. 

Growth in e-commerce was back up in September by 74% year-over-year, after two consecutive months of declines. In September, e-commerce sales totaled $3.2 billion, accounting for 5.6% of total retails sales, up from 5.1% in August. This excludes Canadians purchasing from foreign e-commerce retailers.  
    
This was a good news report. Nonetheless, rising cases of COVID-19 have led some provinces such as Ontario, Quebec, Manitoba and BC to tighten restrictions, which includes discouraging non-essential travel. This could put a damper on brick and mortar retail sales as we enter the holiday season, while e-commerce could see another boost. Early estimates provided by Statistics Canada suggest that retail sales were unchanged in October.  

Link: https://mailchi.mp/bcrea/canadian-retail-sales-sept-november-20-2020

For more information, please contact:

Brendon Ogmundson
Chief Economist
604.742.2796
bogmundson@bcrea.bc.ca 
Kellie Fong
Economist
778.357.0831
kfong@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. 


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