Retail sales growth in Canada is continuing to outperform much of the world so far this year, a sign of the ongoing resiliency of Canadian shoppers despite…
“We continue to expect spending to flag over the second half of this year, even with surprising resilience year-to-date,” they said.
“The tremendous growth in Alberta and muted performance of Ontario reflects significant interprovincial migration, with a record high level of leavers from Ontario, and a record high level of arrivals in Alberta,” the report said. Meanwhile, demand for travel, hospitality and entertainment has been a key driver of sales, the Colliers report noted.
Retail rents have reached all-time highs as renewed leasing demand, low vacancy rates and a lack of new developments has funnelled demand to existing shopping centres, the report found.
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