Canada Retail Market Report and Forecast 2024-2032

Canada Retail Market Size

The Canada retail market was valued at USD 795.57 billion in 2023. The market is further projected to grow at a CAGR of 4.90% between 2024 and 2032, reaching a value of USD 1,234.15 billion by 2032.

Canada Retail Market Outlook

• As per industry reports, in 2022, Canada was home to around 236,235 retail establishments.

• A significant number of Canadian retail firms have adopted technologies, such as wireless technology and internet-based systems to enhance their business-to-consumer and business-to-business relations.

• Food manufacturers distribute their products via major chains, including Walmart, Metro, and Loblaws.

Canada Retail Market Growth

Self-service technologies and interactive staff a key to enhancing the retail experiences of Canadian consumers and solidifying their in-store shopping habits. Several grocery stores and pharmacies allow shoppers to scan and pay for their purchases at kiosks bypassing human cashiers. Fashion retailers in Canada attach radio-frequency identification (or RFID) tags to clothing. These tags automatically tabulate a shopper’s purchase when they place their basket at a self-serve checkout. The integration of smart cameras, artificial intelligence, and the Internet of Things is playing a crucial role in the Canadian retail sector.

In 2022, there were more than 27 million eCommerce users in Canada, accounting for around 75% of the Canadian population. This number is anticipated to rise to 77.6% in 2025. According to the Canada retail market analysis, Canadians widely purchase electronics, fashion goods, and furniture online. In 2022, around 59% of Canadians used credit cards when making purchases online while 20% used PayPal. The use of digital wallets is steadily rising and is expected to account for 27% of online payments by 2025.

Canada Retail Industry Segmentation

Canada Retail Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments.

Market Breakup by Product

• Food, Beverage and Grocery

• Personal and Household Care

• Apparel, Footwear and Accessories

• Furniture and Home Décor

• Toys, Hobby, and Household Appliances

• Industrial and Automotive

• Electronic, Consumer Durables and IT

• Pharmaceuticals

• Others

Market Breakup by Sector

• Organised

• Unorganised

Market Breakup by Distribution Channel

• Hypermarkets/Supermarkets

• Convenience Stores

• Online Channels

• Others

Market Breakup by Region

• British Columbia

• Alberta

• The Prairies

• Central Canada

• Atlantic Canada

Canada Retail Market Share

In 2023, the sales revenue of the Canadian beauty market expanded by 18% through September, compared to the same 9-month period in 2022. With beauty new brands entering the market and investing in product innovation, Canadians are increasingly demanding personal care and beauty products, which is aiding the market growth. The demand is also driven as consumers purchase the goods to meet their personal needs as well as for gifting purposes.

Leading Companies in Canada Retail Market

The key players in the market are investing in strategies to boost their retail network and grab a larger market share.

• Walmart Inc.

• Amazon.com Inc.

• Costco Wholesale Corporation

• The Home Depot, Inc. 

• George Weston Limited

• Empire Company Limited 

• Metro Inc. 

• Others

Key Highlights of the Report