Merrier Xmas In Store for Retailers
This morning, we caught up with Colliers Retail SVP Mary Mowbray about the Colliers International's hot-off-the-presses retail report, which touches on projected holiday sales volume across Canada. The scoop: Retailers can look forward to 5% growth this year compared with 2012. One caveat: last year was down so this year's projections are actually just a return to a statistical norm, Mary tells us. Canadian retailers will increasingly move holiday-related deals into late November, to "jump the queue," which will impact December numbers. (That means we have to stare at that wrapped present in the closet for a whole week longer. What is it?!)
"Generally there's more confidence here than in the US," Mary tells us. In the US we are hearing this morning that sales dipped on Black Friday for the first time in seven years. Yet the trend for this country seems to be positive. While Ontario, BC and Quebec account for 70% of Canada's total retail sales, it's Alberta, Newfoundland and Labrador, and Saskatchewan that are leading the charge when talking about projected growth. Forecasted holiday sales volume compared to the same period in 2012 is expected to grow by 8.42% (Alberta), 8.19% (Newfoundland), and 6.14% (Saskatchewan). BC is projected at 3.39%, Ontario 4.13% and Quebec 4.29% (the national average for December is projected at 4.83%).