canada retail sales

Retail sales in Canada are way up as more people now shopping than before COVID-19

Retail sales in Canada are booming. Perhaps one of the ways you've been able to conquer those quarantine blues is by taking part in some retail therapy. If so, you're not alone. 

According to recently released numbers by Statistics Canada, Canadians have been shopping now more than ever.

On Friday, the agency reported that Canadian retailers earned a whooping $53 billion in June as sales increased in all types of stores. That's a 23 per cent increase from the month prior.

Sales increased 142 per cent in clothing stores, 80 per cent in furniture stores, 13 per cent in building and garden supply stores, 53 per cent in car and car part stores, and 65 per cent in hobby, book and music stores. 

These numbers mean that sales surpassed the level they were at before COVID-19 hit and are four per cent higher than they were a year ago. 

While sales fell by a third between February and April, things began to improve in May, and especially June.

Unsurprisingly, online sales have done extremely well, increasing 70 per cent from the same time last year and raking in $3.2 billion.

"It's a V-shaped recovery for retail sales despite all the doom and gloom in recent months," said Benjamin Reitzes, economist at the Bank of Montreal, in a statement

"Hard to believe anyone would have expected this just a few months ago. Indeed, those with a bearish bent will no doubt go silent, perhaps going into hibernation for the time being."

Lead photo by

Fareen Karim

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