Canadian seasonally-adjusted retail sales rose 0.7% to $58.1 billion in November. The rise was driven by sales at gasoline stations (+4.9%), building material and garden equipment and supplies dealers (+3.0%) and food and beverage stores (+1.0%). Core retail sales, which strips out gasoline and vehicle and parts sales, increased 0.5% in November. Part of this growth was due to price growth--retail sales rose 0.2% in volume terms.
In BC, seasonally-adjusted sales rose 0.8% in November. Compared to the same month last year, retail sales were up 3.3% in the province. In the Greater Vancouver region, sales rose 0.7% month-over-month and were up 9.4% year-over-year.
In November, Canadian e-commerce sales rose from $3.3 billion to $4.3 billion. As a result, e-commerce increased from 5.4% of total retail sales in October to 6.9% in November. This percentage remains elevated relative to pre-pandemic levels.
Copyright British Columbia Real Estate Association. Reprinted with permission.