Retail sales growth in Canada for 2017 is poised to set a 20-year high, according to Statistics Canada’s latest figures. Sales were up 7.0% as of the end of November, and according to retail consultant Ed Strapagiel, “current momentum indicates that December is unlikely to disappoint.”
However Strapagiel’s analysis notes that food and drug sales haven’t kept pace, slowing even more in recent months. The current pace stands at 3.3% and is likely to end 2017 slightly below that.
Supermarket and grocery stores are even slower, limping along at 1.0% year-to-date as of last November. Small specialty food stores are the sole bright spot for grocery, with year-to-date 2017 sales up 8%.