"The latest numbers from StatsCan indicate swings in Canadian retail sales. For the three months ending April 2021, total retail sales increased by a record-breaking 28.3 per cent year-over-year. But there is good reason for it. In the same period last year, 2020, sales were significantly depressed as COVID began to really impact retail activity. Compared to the same months in 2019, Canadian retail sales gained 5.3 per cent per annum over the two years, a much more normal result.
"There will likely be more ups and downs in Canadian retail sales in the months ahead. COVID was and is a big shock and it will take some time for retail markets to settle down. Another factor is that the major retail sectors are all showing different instabilities, both positive and negative." - Ed Strapagiel's monthly analyses are available at Retail Insider. Read the full analysis HERE.