WORLD HEADQUARTERS, Toronto ― Canada’s retail home improvement industry grew at a healthier rate than anticipated in 2017, but conditions affecting the industry point to a slowdown through the end of 2018. That moderation is expected to continue into 2019, as well.
According to the 2018-2019 Hardlines Retail Report, sales by hardware stores, building centres and big boxes, Canadian Tire, and related sales by Walmart and Costco, were up 5.1% year over year in 2017. But dealers’ sales are forecast to slow down to below 4.5% annually to the end of 2019.
On a regional basis, the greatest growth is forecast to come from the West, particularly Alberta, as the economy there continues to gain steam. That province’s retail home improvement sales are expected to grow by more than 5% annually. British Columbia is close behind, with anticipated annualized sales growth of 4.75% through this year and next. According to the Retail Report, Saskatchewan will also perform well to the end of 2019.
The Hardlines Retail Report features in-depth analysis of the industry’s top players, including the market shares of the top 20 players, and sales and forecasts for Home Depot, Canadian Tire and Lowe’s Canada. This year’s report features expanded forecasts both provincially and by store format. (Click here for details and to order your Hardlines Retail Report now!)