Industry News

24/11/2009 - While many have forecasted a bleak holiday shopping season for Canadian retailers, it may not be as dismal as many expect based on the latest retail sales numbers from Statistics Canada.

Retail sales rose by 1 percent in September to reach $34.9 billion, marking the seventh increase in the past nine months.

Six of the eight retail sectors posted growth, led by the food and beverage stores sector which saw sales growth of 1.3 percent. General merchandising stores posted the largest growth, with an increase of 1.9 percent.

Possibly the most relevant to holiday sales forecasts was the fact that sporting goods, hobby, music and book stores saw the largest increase in sales since March 2008, finally rebounding after four months of flat sales.

The only two sectors to see sales decline were the building and outdoor home supplies sector and the clothing and accessories sector, Statistics Canada reported.

Merchants in any sector are advised to make the most of the holiday shopping season by making sure that their merchant accounts feature both debit and credit card processing, which have been found to increase sales and improve cash flow.