Wednesday, October 1, 2025

Latest

Retail Sales Soar as Canadians Embark on Shopping Sprees Amid Reopening

Canadian retail sales strongly rebounded in June, as consumers flocked to brick-and-mortar stores following a lengthly period of pandemic-related shutdowns. However, July’s preliminary data suggests the momentum may only be temporary.

According to Statistics Canada, retail sales jumped 4.2% to $56.2 billion in June, as activity rose across eight of the 11 subsectors. Core retail sales, which do not account for volatile sales such as those from gasoline stations and motor vehicle and parts dealers, were up 4.6%.

As restrictions on non-essential retailers were lifted, sales at clothing and clothing accessories stores soared 49.1%, following two consecutive months of declines. Similarly, sales at general merchandise stores rose 7.4%, while sales at motor vehicle and parts dealers jumped 2.7% in June. On the other hand, sales at food and beverage stores slumped 2.6%, while sales at building material and garden equipment and supplies dealers were down 3.1%.

Despite the strong rebound in retail sales in June, it appears that the optimism was short-lived. According to Statistics Canada’s flash estimates, retail sales declined 1.7% in July, suggesting that consumers are shifting their spending patterns from goods to services as the economy continues to reopen. “Canadians probably started replacing goods purchases with services. And even with the retreat in July, retail sales are still well above pre-COVID levels,” explained CIBC economist Royce Mendes.


Information for this briefing was found via Statistics Canada. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

The Global Conflict Has Already Started | Bryan Cunningham

Silver Still At 90:1, What If It Snaps Back To 15:1? | Glenn Jessome – Silver Tiger

Why This Gold Run Could Be Bigger | Roger Rosmus – Goliath Resources

Recommended

Nord Precious Metals Conducts Geophysical Survey At Castle To Identify Historical Workings

Anfield Energy Releases First Assay Results From JD-7 Mine Drill Program

Related News

Canadian Retail Sales Increased 1.3% In November Following Surge in Online Shopping

For the seventh consecutive month, Canadian retail sales posted the fastest increase since September, rising...

Monday, January 25, 2021, 10:45:00 AM

Canada Grants Airbus Waiver to Use Russian Titanium Despite Sanctions

The Canadian government has granted European aerospace giant Airbus (EPA: AIR) a temporary waiver to...

Thursday, April 25, 2024, 10:42:25 AM

Single-Use Plastics Will Be Banned In Canada Beginning This Week

Canada’s ban on the manufacture and import for sale of single-use plastics will come into...

Monday, December 19, 2022, 02:15:00 PM

PayPal: Canadian Consumers Spend An Average of $178 Online Shopping

The pandemic has created a divergence towards e-commerce, as brick-and-mortar stores were forced to close...

Thursday, June 24, 2021, 11:42:00 AM

NATO Defense Spending Soars as Russian Threat Looms, but Some Allies Lag Behind

NATO Secretary-General Jens Stoltenberg announced on Monday that a record 23 out of NATO’s 32...

Saturday, June 22, 2024, 09:13:00 AM