Canadian retail sales rose 4.8% m/m on a seasonally-adjusted basis in February. Sales were higher in 9 of 11 sub-sectors, led by higher sales at motor-vehicle and parts dealers as well as gas stations. Excluding motor-vehicles and gasoline, retail sales were up 3.8% in February. Statistics Canada also released a preliminary estimate for March showing retail sales increased 2.3%.
In BC, seasonally-adjusted retail sales were down 0.1% m/m but were up 1.8% m/m in Vancouver. On a non-seasonally adjusted basis, BC retail sales were up by 12% compared to the same time last year.
In February Canadian e-commerce sales rose 92% year-over-year to $3.1 billion, accounting for 6.8% of total retail sales. The share of e-commerce was down 1.3 percentage points as more brick-and-mortar stores were open to in-person shopping.
Copyright British Columbia Real Estate Association. Reprinted with permission.