Pandemic conditions, which took their toll on so many businesses, proved perfectly suited for people to spend money on their homes. That was a boon to dealers across Canada over the past two years. As a result, the retail home improvement industry came off a second record year of sales growth in 2021.
But just how big were those gains? According to the 2022 Hardlines Retail Report, the industry grew by a healthy 11.3 percent last year, following even bigger growth in 2020. Over two years, retail sales by hardware and building supply dealers advanced by 26.8 percent.
(A more detailed article about the growth of the industry will appear in Monday’s weekly edition of the Hardlines newsletter. To pre-order you own copy of this exclusive report, click here now. And if you’re not getting Hardlines in your inbox every Monday, click here to start a free trial today!)