Canadian Retail Sales (September 2021) - November 19, 2021

Canadian Retail Sales (September 2021) - November 19, 2021

Canadian seasonally-adjusted retail sales fell 0.6% to $56.6 billion in September. The decline was driven by sales at motor vehicle and parts dealers (-1.6%) as new car sales continued to be impacted by semiconductor chip supply shortages. According to Statistics Canada's survey, just 0.5% of retailers were closed at some point in September. Preliminary estimates, based on roughly 50% of respondents reporting so far to the agency, indicate that retail sales rose 1% in October.

In BC, sales rose 1.1% to a fresh record in September, erasing declines in July and August. Compared to the same month last year, retail sales were up 6.7% in the province. Only electronics and appliance sales and building material or garden equipment were not up on a year-over-year basis in September. In the Greater Vancouver region, sales fell 0.6% month-over-month and were up 10.3% year-over-year.

In September, Canadian e-commerce sales rose from $3 billion to $3.2 billion. As a result, e-commerce increased from 4.9% of total retail sales in August to 5.3% in September. This percentage is lower than at most points since the onset of the pandemic but is elevated compared to pre-pandemic levels.

Link:  https://mailchi.mp/bcrea/canadian-retail-sales-september-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.