Canadian Industrial Profile
This industry profile provides a five-year forecast for Canada’s clothing and department stores industry.
Economic Growth—Although the Canadian economy has slowed this year, wages have surged and disposable income continues to rise. This will benefit spending on discretionary goods, such as new apparel and cosmetics.
Store Closures—Over the last four years, the number of retail outlets in the industry has decreased by 4 per cent, as retailers continue to shutter their least profitable locations.
E-Commerce—Clothing and department stores continue to jump on the e-commerce trend, which makes it easier for firms to market directly to consumers and allows firms to save on costs by reducing floor space.